Compare  Child Insurance Plans

Nowadays, the most important responsibility of parents is to secure their children’s future. Inflation is going up and up everyday and it seems that it is hitting education sector the most at this time. So if you are a parent, then you need to get your child’s future secure so that you can meet rising needs of your children.

To secure your child’s future you can take any child insurance policy which is being served by almost all insurance companies. These insurance policies will secure your child’s future and will also meet the rising cost of your child’s education.We at RupayaBazaar.com provide you all information regarding child insurance. Thus, we recommend our viewers COMPARE BEFORE TAKEN CHILD INSURANCE.

Company Name Insurar & Plan Name Entry Age Maturity Age Policy Term Sum Assured Premium Payment Term Premium Mode Download Brochur More Detail &Apply Online
   
Aegon Life EduCare Advantage Insurance Plan
Min: 20 Years
Max: 55 Years
75 Years 14 Years, 16 Years, 20 Years Min: 1,00,000/- 10 Years, 12 Years, 16 Years Annually, Half Yearly & Monthly  Download   Apply
  Aviva Young Scholar Secure For Parents
Min: 21 Years
Max: 50 Years
For Child
Min: 0 Years
Max: 12 Years
71 Years 21 Minus Entry age of Child As per Term & Age  For entry age 0-8 years of child – 13 minus age of child, For entry age 9-12 years of child: Fixed 5 years Yearly, Half-yearly and Monthly  Download  Apply
  Bajaj Allianz Young Assure Min: 18 Years
Max: 50 Years
Min: 28 Years
Max: 60 Years
10 Years, 15 Years, 20 Years 10 times Annualized Premium 5 Years, 7 Years, 12 Years, 15 Years, 20 Years Yearly, Half yearly, Quarterly and Monthly  Download  Apply
  Bharti AXA Life Child Advantage Min: 18 Years
Max: 55 Years
71 Years for Regular Pay
76 Years for Limited Pay
Min: 11 Years
Max: 21 Years
Min: 25,000/- For Regular Pay: Same as Policy Term
For Limited Pay: Policy Term minus 5 years
Annual, Semi annual, Quarterly, Monthly  Download  Apply
  Birla Sun Life Insurance Vision Star Plan Min: 18 Years
Max: 55 Years
75 Years Min: Option A 14 Years, Option B 16 Years
Max: Option A 21 Years, Option B 23 Years
Min: 1,00,000/- 5 - 12 Years Annual, Semi-annual, Quarterly & Monthly  Download   Apply
  Smart Junior Plan Min: 18 Years
Max: 50 Years
70 Years 12 to 25 years Minimum Sum Assured :
Annual Mode: 3,00,000
Monthly Mode: 5,00,000
Maximum Sum Assured: No limit
Policy Term minus 8 years (for policy term 13 - 25 Years)
5 Years (for policy term 12,15,20 Years)
10 Years (for policy term 19 to 25 Years)
Annual & Monthly  Download  Apply
   Edelweiss Tokio Life – EduSave  Min: 18 Years
Max: 45 Years
60 Years Min: 10 Years
Max: 30 Years
Minimum : Rs 2.25 lakhs
Maximum : no limit
Policy term -  Premium Paying Term
10 - regular pay
11 to 14 -  regular pay
15 - regular pay, 10 pay
16 to 30 -  regular pay, 10 pay, policy term less 5 years
Annual, Semi-annual, Quarterly & Monthly Download  Apply
  Exide LifeMera Aashirvad

For Parents
Min: 18 Years
Max: 45 Years

For Child
Min: 0 Years
Max: 15 Years

For Parents - 65 Years

Min: 36 Years

PPT + 5 Years

Min:
For PPT (10-14) years :- 350,000
For PPT (15-20) years :- 450,000

Max: No Limit

Age of the child-PPT
0-13 to 20
1-12 to 20
2-11 to 20
3-15 to 20              10-20
Annual, Monthly  Download  Apply
  Future Generali Assured Education Plan  Age of the child: 0-10 years
Age of the parent: 21-50 years 
Min: 35 Years
Max: 67 Years
minimum of 7 years, if the child’s age is 10 years to maximum of 17 years in case of a new born child.   Will be same as Policy Term Annual, Monthly  Download   Apply
  HDFC LIFE YOUNGSTAR UDAAN Min : 30 Days
Max : 60 Years
Min: 18 Years
Max: 75 Years
15 Years to 25 Years As per Term & Age • 7 years
• 10 years
• Policy Term minus 5 Years
Annual, Semi-annual, Quarterly & Monthly  Download  Apply
  ICICI Pru Smart Kid Regular Premium Age of the child: 0-12 years
Age of the parent: 20-60 years 
70 Years 10 Years to 22 Years

Minimum : Rs 1,00,00

Maximum : Rs 30,00,000

Will be same as Policy Term Monthly, Half-Yearly and Yearly  Download  Apply
  Childsurance Savings Protection Insurance Pl

For Parents:
Min: 18 years
Max:
Regular payment option: 40 years
Limited payment option: 50 years

For Child
Min: 1 Month
Max: 18 Years

Min : 28 Years
Max:
Regular payment option:
65 Years
Limited payment option: 75 years
Min: 10 Years
Max: 25 Years

Min: Subject to above minimum premium

Max: No limit, subject to underwriting 

Regular payment option: Equal to policy term
Limited payment option: 5 years less than the policy term 
Yearly, and monthly by ECS, standing instructions or direct debit only  Download   Apply
  LIC’s NEW CHILDREN’S MONEY BACK PLAN Min : 0 Years
Max : 12 Years
25 Years [25 –Age at entry] years

Minimum : Rs 1,00,000

Maximum : no limit

Will be same as Policy Term yearly,  half-yearly,  quarterly  or  monthly mode  Download  Apply
  Max Life Future Genius Education Plan Minimum : 21 years
Maximum : 45 years
66 Years From 13 Years to 21 Years

Minimum:
 8 Pay variant : Rs. 3,27,000
Limited Pay variant : Rs. 2,12,000

Maximum:
 No limit, 

Two premium payment term options available
1. 8 Pay variant  -  8 years or
2. Limited Pay variant -  Policy Term less 3 years
annual, semi-annual, quarterly and monthly   Download   Apply
  Kotak Headstart Child Assure Min: 18 years
Max: 60 years
Min: 28 years
 Max: 70 years
10 years, 15 to 25 years    Regular: Equal to Policy term
Limited: 5 years available with policy term 10 years
10 years available with  policy terms 15 to 25 years 
Yearly and Half-yearly  Download  Apply
  MetLife College Plan Min: 20 Years
Max: 45 years
69 Years From 12 Years to 24 Years Min : 212040/-
Max : 5 Crore
Will be same as Policy Term Annually, Semi Annually, quarterly and monthly  Download  Apply
  Reliance Education Plan Age of the child: 0-18 years
Age of the parent: 20-50 years 

For Parents -
Min: 29 Years
Max: 65 Years

For Child -
Min : 9 Years
Max : 30 Years

For PPT 5 & 7 Years & Regular
Min : 9 Years
Max : 20 Years

For PPT 10 Years
Min : 12 Years
Max : 20 Years 

Min : 50,000/-
Max : No Limit
Limited Pay: 5/7/10 Years
For Regular : Equal to Policy Term
Annually, Semi Annually, quarterly and monthly  Download  Apply
  SBI Life - Smart Champ Insurance Life Assured
Min: 21 years  Max: 50 years
Child
Min: 0 years  Max: 13 years
Life Assured
Max: 70 years
Child
Max: 21 years
21 minus  Child’s Age at entry
Min: 8 years  Max: 21 years
Min: Rs.1,00,000
 
Max : Rs. 1 Crore
18 minus  Child’s Age at entry
Min: 5 years  Max: 18 years
Single Premium / Yearly / Half-yearly / Quarterly / Monthly  Download  Apply
  Tata AIA Life Insurance Good Kid Life Assured
Min: 25 years  Max: 45 years
Child
Min: 0 years  Max: 17 years
70 Years 12 Years to 25 Years Min: Rs.2,50,000
 
Max : No Limit
Policy Term less 5 years  Annual/Half-yearly/ Monthly  Download  Apply

How to choose the right child plan?

As per survey report most parents start planning for their child's future quite late. The need to meet the rearing priorities usually leads to overlooking the financial planning. In order to reap the benefits of insurance plan, it is strongly advised to start planning for the child's future during his/her formative years, i.e, between 1-3 years to ensure that sufficient funds are available when the child is ready to embark on a career path. There is no dearth of good child insurance plans in the market. If chosen carefully, a child's plan can become a solid long term vehicle to manage the future of a child. So, how do you choose the right child insurance plan? Below are some tips to guide you-  

  • Know your goals= Planning is the first step to be taken before starting out investments for a child. We should understand how much money would require for child’s education, marriage, etc. The other vital factor to consider is the expected inflation rate and its effects on value of investments. So, you should quantify your objectives with a reputed financial planner and choose an apt child insurance plan.

  • Invest in child plans that offer premium waiver benefits= On the death of a parent, insurer waives all future premiums and continues funding the policy till its maturity. The premium waiver benefit ensures that the maturity benefit that was set for the certain age remains intact.

  • Carefully read product brochure and understand the additional costs involved in the product compare all available child insurance plans before picking the one.

FAQ on Child Insurance

As a responsible parent, you would always want your child to get the best of everything. To ensure that you full fill all the dreams that you have for your child, financial planning for their secured future is imperative. Child Insurance Plan is the right way to ensure that you have a safe future for your child, which offers strong financial security for your child’s future in your absence. Child insurance plan is an endowment plan which offers both death and maturity benefits.
A child plan comes loaded with following features. Have a look at major features- • Flexibility to choose the policy term which can be anywhere between 5-25 years • Freedom to opt for a premium amount suiting your pocket as well as sum insured as per your preference • You are allowed to choose any mode of premium payment- monthly, quarterly or yearly instalments • Partial withdrawal benefit is available
Child ULIPs- The premium paid by each insurer flows into a collective pool of funds that is invested both in debt and equity instruments. Being a market linked product, the potential for returns is high. This type of plan is ideal for longer policy term (more than 10 years). Child Endowment Plans - The premium paid by each insurer flows into a collective pool of funds that is invested only in debt instruments. The returns are steady, but not so high. This type of plan is ideal for shorter policy term (less than 10 years.
Generally, all insurance companies ask for the following documents- • Age Proof • Identity Proof • Address Proof • Income Proof • Duly filled proposal form