Top Companies Offering Child Insurance Plans
Updated On Jul 13, 2021
Table of Contents
- Why is it Important to Purchase a Child Insurance Plan?
- Top 5 Companies and their Best Child Insurance Plans
When it comes to creating a stable Financial Future for your Child then Child Insurance Policies are the answer to all your questions. It provides an Investment Corpus at the time of Maturity even in your Absence. So, whether you are around or not there will be Funds available for the Future of your beloved Child.
Why is it Important to Purchase a Child Insurance Plan?
These plans not only protect your Child's Future but also provide Additional Benefits.
The reason it is called Guaranteed Benefit is because It provides something that no other Investment does. Many Child Insurance Plans have a built-in incentive called Premium exemption or Waiver of Premium of Benefit. This Benefit offers to pay the Sum Assured even in the absence of the Parent.
As mentioned the Child Insurance Plan is a two-pronged Investment-cum Insurance Plan. The Financial Corpus is particularly for a Child and the Second aspect is the Investment which is directed towards crucial achievements that will come in the Child's Future.
Top 5 Companies and their Best Child Insurance Plans
Following are the top life insurance companies and their child plans -
HDFC Life YoungStar Premium Plan
This is a well-known name in the Insurance Market. The Banking and Insurance Institution offers one of the Best Child Policy Plans in the Market. Comes with two Death Benefit Options. Save-n-gain preference gives the Benefit that only 50% of the Premium will be charged in case the parent dies. Four fund Investment Options available. An Alternative Cover is available for severe Diseases.
ICICI Smart Life Plan
This is another plan offered by a Banking and Insurance Institution. Gives options to choose between two Investment Portfolios. Loyalty Incentives and Asset Boosters increase the portfolio up to 40 times the Annual Premium.
Bajaj Allianz Young Assure Plan
A Plan that offers you support for future expenses and also helps you fulfill the Financial Goals. The gain from the Maturity can be taken in 3 Installments. Additional Bonuses are paid on Maturity. An Accidental Lifetime Disability gain available. Options to choose between 5 Different Riders. Premium rebates for Higher Amounts of Guaranteed Maturity Value of the Guaranteed Amount which is 10 times the Annual Premium.
LIC New Children's Money Back Plan
Who does not know the Plans offered by LIC? This is another great Policy Plan by LIC that offers Security and Funds for your Child's Future.
Protection for Children between the age of 0 to 12. Accrued Bonuses paid at Maturity. 20% of the Amount covered is charged while the child is 18, 20, and 22 years of age. Optional Premium exemption for Riders. Promises a Sum Assured of 1 lakh and above.
Max Life Future Genius Education Plan
With this Plan, you can be sure about your Child's Future Goals and Dreams. Provides a Lifetime Cover even after the Death of the Insured. Your Child's Dreams will not be aborted due to any Financial Issue. Offers 4 Money Backs which are paid in the last 4 Policy Years. Provides flexibility to choose Premium Payment Terms and Policy Terms.
These are the companies that are offering the best Child Insurance Plans in the Insurance Market. With this list, you will be able to make note of the Benefits which are provided by these different companies, and then you can choose the plan that suits you better. Because what can be a better gift for your child than creating a secure future.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.