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Which is the Best Policy for a Child?

Child plans are undoubtedly the most widely suggested and efficient ways to save and grow for the financial freedom and stability of your child. Investing in child plans is the best and efficient way to provide your child a financially safe future not only when you are around but also after you are gone. Investing in a child can be confusing. Selecting a nice plan to invest in for your child to enjoy the best of the benefits is the most important step.

There is a wide range of options you can choose to invest in for your child. You must make sure that you have carefully considered all the factors and various child plans before you invest in your child for a comfortable alignment of the policy with your lifestyle. This ensures that your child is financially stable and independent of any outside factor.

You may also like to read:- Is Waiver Of Premium Rider Necessary While Purchasing A Child Life Insurance?  

3 Best Child Plans To Invest In 2021

Some of the child plans that ensure a comfortable investment and benefits for your child are -

  • HDFC Life YoungStar Super Premium Plan

A unit-linked Child Plan whose main goal is to ensure a child’s financial future securely by providing increased return rates and longer life coverage.

The plan also provides benefits like -

  •  Provides a regular Unit-Linked plan payment mode.
  • 2 cover options are available in this plan, the life option, and the ‘health’ option.
  • The beneficiary payment can be chosen by the life assured. There are two options, namely, Save benefit and Save-n-Gain benefit.
  • ICICI Pru Smart Kid Plan

This plan provides financial security to your child. In case of the parent/ guardian’s sudden death, the child receives a lump sum amount to cover the loss.

The following benefits come alongside the plan

  • In unfortunate events like the sudden death of the life assured, the beneficiary is paid a lump sum payment of the entire Sum assured to take care of immediate expenses of the family.
  • When the life assured passes away and all the due premiums are paid successfully and in time, the waiver of future premiums is also paid to the nominee.
  • liquidity is an advantage available in this plan.
  • When invested over a long time, The life assured can avail of additional loyalty benefits provided by this plan.
  • Tax deductions under the Income Tax Act, 1961 are applicable.
  • Bajaj Allianz Young Assure Plan

 This plan is a limited premium payment Endowment plan that requires participation. The plan comes with the following benefits.

  • There are multiple premium payment methods and policy term options. The life assured is offered to choose one from the options available according to their flexibility. This is to make sure that you have the money required at times of crisis.
  • It provides good returns due to guaranteed maturity benefits and additions.
  • You can also increase the effectiveness of your life cover by choosing additional riders and add-ons that are provided along with this plan.
  • Female buyers are offered a special rate to buy this plan.
  • You can choose from three different payment options you can choose from to align the policy comfortably with your lifestyle.

Also Read:- How to Choose the Best Child Insurance Plan? 


There are many ways to fulfill one of your most important responsibilities as a parent. You must choose wisely by comparing all the different options available in the market. You must consider your financial status before you start investing in your child.

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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