Child Insurance Plans for Securing Your Child’s Future
What: Insurance plans designed to secure your child’s future.
Why: Provides financial protection for education, marriage, and other milestones, regardless of unexpected circumstances.
Types:
Endowment Plans: Lump sum payout after a specific period.
ULIPs: Market-linked insurance plans offering higher returns.
Money-Back Policies: Partial payouts at regular intervals.
Term Plans with Child Rider: Pure insurance coverage with additional benefits.
Key Features:
Premium waiver benefit.
Flexibility in premium and coverage.
Bonuses and returns for financial growth.
Top Plans: HDFC Life Click 2 Protect, ICICI Prudential Smart Kid, SBI Life Smart Scholar, Max Life Shiksha Plus, Bajaj Allianz Young Scholar.
Tax Benefits: Premiums qualify for deductions under Section 80C and maturity benefits are tax-free under Section 10(10D).
Conclusion: Secure your child's future with a child insurance plan that combines financial protection and long-term wealth building.