What is the Maximum Age to buy a Child Insurance Plan?
Updated On Jul 05, 2021
Table of Contents
- Different Child Insurance Policies and Their Maximum Entry Age
A Child Insurance Plan is a combination of savings and insurance cover. After buying these plans you can be assured that all of your child's requirements can be taken care of with just this simple step even if you are not around. Choosing the right plan is necessary and the major factor that plays a vital role is the age criteria. The Minimum and Maximum Age limit of the child varies from policy to policy.
In this Article, We have listed out the 10 best Child Insurance Policies and their age limit and other benefits which will help you to decide which one suits you better.
Different Child Insurance Policies and Their Maximum Entry Age
We have listed Some Best Child Insurance Plans below along with their eligibility
Bajaj Allianz Young Assure
This Plan offered by Bajaj has the entry age of 18-50 years and the maximum maturity age is 60 years. The sum assured promised under this plan is 10 times the annualized premium.
Exide Life Mera Ashirwad Plan
Under this plan the insurance entry age is 21-50 years and the maximum age limit is 65 years with a sum assured of a maximum of Rs. 3.5 lakh.
HDFC SL YoungStar Super Premium
HDFC is known for its insurance plans and this Child Insurance Policy has an entry age limit of 18-65 years and the maximum age limit is 75 years. Apart from the major benefits, it offers a sum assured of 10 times the annualized premium.
ICICI Pru Smart Kid Assures Plan
Another banking and insurance institution with a benefit plan with an entry age of 20-54 years and maximum age limit of 64 years. And it offers a minimum sum assured of Rs. 45,000.
MAX Life Shiksha Life Super
The plan has an entry age limit of 21-50 years and a maximum age limit of 65 years. With guaranteed benefits, it promises a minimum sum assured of Rs. 2.5 lakh.
Metlife College Plan
This plan has an entry age limit of 20-45 years and the maximum age limit is 69 years. The plan offers a minimum sum assured of Rs. 2,15,000.
Reliance Life Child Plan
The plan offered by Reliance has an age limit of 20-60 years with a maximum age bar of 70 years and it includes the minimum sum assured which is equal to the policy amount.
SBI Life Smart Champ Insurance Plan
Another great plan by SBI offers an entry age limit of 21-50 years with a maximum age bar of 70 years and the sum assured promised by the plan is a Minimum of Rs. 1 lakh.
TATA AIA Super Insurance Plan
TATA is another big name in the market and this particular plan has an entry age limit of 20-50 years and a maximum age bar of 70 years. The best part of this premium is 10 times the yearly premium.
Smart Future Income Plan
This is not much known in the market but still has great potential. This plan has an entry age limit of 18-55 years and a maximum age bar of 80 years. But the best part of this plan is the sum assured which according to the company is 100 times the monthly income.
As you can see all these plans have their pros and cons, so it becomes necessary to compare all the plans briefly either by yourself or with an expert. You need to keep in mind the duration that you want to stay invested and your income stability. Once you go through all these checks you can buy the best plan that suits you and secure your child's 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.