Secure a Bright Future for Your Child with a Customized Child Plan

Ensuring your child’s future is no game. Our life is uncertain, and thus it needs a fool proof plan to secure your child’s future. As a parent, it is a big responsibility to ensure that your child gets a bright and promising future. The question is what is the best child plan that will secure your child’s future? You will compare the child plan, contrast the features and work on every pros and cons of every plan before investing in a child policy. However, every plan offers various benefits, it is still better to go for customized child plans.

Customized Child Plan-

When you opt for a customized child plan, you will not have to compromise on the rate of interest that can otherwise help you to earn a regular investment of your assets. You can determine the returns that you would want to earn while customizing an online child plan. Even the policy that seems best to you may not reap the best dividends while you consider the long term scenario.

A customized child plan is tailor-made that suits your own requirements and circumstances and increases your earning potential, without compromising on the insurance part. While comparing child plans that would give you a return of 6% to 8%, customized child plan with proper planning and consideration would get you returns that are equal to the very best investments options available in market. You can neglect the disadvantages as premature withdrawal charges or switching charges related with a move from one option to another on the basis of market conditions.

While planning for a long term around 20 years, online child plan could get you dividends which are more than what you can get from any other traditional form of the child policy.

Types of Child Plan-

There are two types of child plans- traditional child plans and Unit Linked Insurance Plans. Further there are riders that are add on to your child policy to customize it to your needs.

  • Traditional Child Policy-

This policy is offered by insurance firms and is similar in nature to endowment plans. An online child plan would have an investment and an insurance component which gives you a planned payout in advance.

  • Unit Linked Child Plan-
    This plan gives you the benefits of insurance plans cover with investments that provides high rates of returns. There could be an initial lock-in period, the withdrawal options tend to be flexible and the rate of returns on the long run is also reasonable. While comparing child plan, you will understand that unit linked child policy tends to fluctuate with time.
  • Riders in Child Plan-

Online child plans provide you the freedom to choose and ensures that you could also compare the child plan. The bets child plan offers riders such as waiver of premium rider which comes into action in the event of death, disability or dismemberment of the policy holder.

Right Time to Buy Child Plan-

It takes longer to pay better and grow whether it is traditional or ULIP plan. When you buy child plan, is an important factor for the policy to be effective in terms of premium paid and the returns. The early you start to plan your child’s life, the more manageable and affordable premium plans you can make to decide upon corpus. If your child is in his or her teenage, the child plans may not be very effective. As these plans have fixed maturity date, it is better to buy the plan when your child is still young; this way your funds can grow for ample of time.

Child Plans in India

Child Plans Entry age Maximum Maturity age Minimum Annual Premium Minimum Sum assured
Bajaj Allianz Young Assure 18 – 50 years 60 years N/A 10 times Annualized premium
Birla Sun Life Insurance Vision Star Plus 18 – 55years 75 years N/A Rs. 1.00,000
Max Life Shiksha Life Super 21 – 50 years 65 years Rs. 25000/- Rs. 50000/-
ICICI Pru Smart kid Assure plan 20 – 60 years 75 years Rs. 15000/- 5times the annual premium
Aegon Life EduCare Advantage Insurance Plan 20 – 60 years 75 years N/A Rs. 100000/-
MetLife Smart Child Plan 18 – 55 years N/A Rs. 18000/- 10 times annual premium
Shriram New Shrividya Plan 18 50 years 70 years N/A Rs. 100000/-
Bharti AXA Life Child Advantage Plan 18 – 55 years 65 years N/A Rs. 25000/-
HDFC SL YoungStar Super Premium 30 – 60 years 75 years Rs. 24000/- Subject to underwriting
Exide Life MeraAshirvaad Plan 21 – 50 years 65 years N/A Rs. 3.5 Lakhs
SBI Life Smart champ Insurance Plan 21 – 50 years 70 years Rs. 6000/- Rs. 1 lakhs
Edelweiss Tokio Life Edu Save Plan 18 – 45 years 60 years Rs. 6968/- Rs.225000/-
Aviva Young Scholar Advantage Plan (Child Education Plan) 21 – 45 years 60 years 10 – 25 years 10 times the annual premium
Future Generali Assured Education Plan (Child Education Plan) 21 – 50 years 67 years Minimum : 17 years minus the age of the child N/A
MetLife College Plan (Child Education Plan) 20 – 45 years 69 years 12 – 24 years Rs. 2,12,040/-
SBI Life Smart Scholar (Child Education Plan) 18 – 57 years 65 Years 8 – 25 years 10/7 times the annual premium (regular pay) 1.25 times single premium (single pay)


Child plan is investment cum insurance plan that financially secures your child’s future and finance the major turning points in his or her life such as marriage, career and higher education. Customized child plan gives you the chance to tailor made your plan according to your needs.