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Which is the Best Child Insurance Plan in India 2021?

Published On Jul 03, 2021 1:00 PM By InsuranceDekho

Life will bring the same challenges to your child that you faced during your own life and that is why it becomes your responsibility to make sure that when such challenges arrive your child is ready and has the required resources to tackle these problems. A Child Insurance Plan not only secures your child's future but also gives you an investment structure. If you're not around at the time of the plan's maturity, you will be leaving behind funds to empower your child's future.  

In this article, we will discuss reasons to purchase Child Insurance Policy and Best Child Insurance Plans in India in 2021.

Reasons To Purchase a Child Insurance Policy

There are certain reasons why you should purchase Child Insurance Plans. The reason is as follows: 

  • Offers Guaranteed Benefits At The Time Of Maturity

There's something special about a child policy that you will not find anywhere in any other type of policy plan. It is a guaranteed sum assured that will be received by the insured even if you are not around at the time of maturity of the plan. It is called a premium exemption benefit, this ensures that this profit can be used to empower your child's future and dreams.  

  • Double Assurance In The Form Of Insurance And Investment

These Child Insurance Plans come with two values included in one package. The first part is the insurance cover which is particularly for the child and the second part is the investment structure which aims to provide funding for the child's future. Be it school fees or expenses of higher studies, all will be covered and will help you to meet the plans of the child's future requirements. 

Best Child Insurance Plans Available In The Market

Some of the Best Child Insurance Plans available in the market are as follows:  

  • ICICI Smart Life Plan

This plan offers you to choose between two different investment structures. Loyalty incentives are available when premiums are paid on time with no overdue. Asset boosters to increase the worth of your portfolio up to 40 times the annual premiums.  

  • Max Life Future Genius Education Plan

This plan by Max ensures that even in case of sudden demise or in absence of the parent the child's aspirations are not affected financially. Life coverage and policy continuation benefit in case of death of the life assured. You will get to choose the premium payment structure and policy term as per your comfort. This plan also offers a money-back benefit during the last 4 years of the policy tenure.  

  • Lic New Children's Money Back Plan

This Plan offers protection to children between the age of 0 to 12. A Guaranteed Sum Assured of Rs. 1 lakh and above. Bonuses will be added during the term. When the child is 18, 20, and 22 only 20% of the amount will be charged with the cover.  

  • Bajaj Allianz Young Assure Plan

Bajaj Allianz offers guaranteed bonuses and additions at maturity. This plan also includes accidental and absolute disability benefits. Up to 5 riders can be added to the existing plan. The gain from the maturity may be taken in three instalments. 

  • HDFC Life Youngster Super Premium Plan

HDFC offers two different death benefits. In case the parent dies during the term then only 50% of the premium will be charged. You can choose from 4 investment fund options. Critical disease cover is also available but as an alternative.  


As a parent, you want to make sure that your child's future is secured. There are various child plans which are available in the market and it is advisable to compare all the plans and choose them according to your comfort and preference.

Also Read: 

How Child Plan Helps You Plan For Your Child’s Future?

The Most Important Plan of All Investment Options: Child insurance

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.

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