In this fast running world, education has become a major and important aspect in every one’s life. With this, every child’s parents are quite concerned for their children future. Like every parents, one should have ideas for their child with the best teaching. As thoughtful parents, one will constantly want their child to get the preeminent education.
Also, as the cost of education is getting higher and higher day-by-day, these education plans can really help one to make their child’s future better in advance. This plan will not only provide one the better future only but also provide the funds on the right time.
With the rising standard of living of the people, the everyday expenditure for educating the child is also increasing. If one wishes to do the education planning or want to do saving for their child’s education expense in the advance to make their future more secure, safe, enhanced and better, it will always help to look at the insurance as it is considered as one of the better endeavor avenues. It is as well offers the guarantee to the people that delivers the money for the child’s better future right on time.
In order to get his/ her child’s future more secure and protected, one needs to know about the given below some most helpful and important child education plans which will definitely help one’s parents to bring a bright prospect of their kid and these plans can also make the parents free from the unnecessary and untimely worries due to their child future:-
Aviva Youngster Secure
This is the very first plan for child’s education. This is a certain plan having an assured guarantee. Under this, the assured returns are granted yearly for children aged 13- 18 years. Also the payment of the premium can also be stopped after completing the age of 18.
- Entry age: for Parent: 21-50 yrs & for Child: 0-12 yrs
- Policy term: 21 minus age at entry of the child. (if child is 1 year then 20 yrs)
- Premium payment term: 1) entry age 0-8 years of child – 13 minus age of child. 2) For entry age 9-12 yrs of child: Fixed 5 years
- Premium Payment Frequency: Yearly, Half-yearly and Monthly
- Annual Premium: Silver – Rs. 25000, Gold – Rs. 50000, Diamond– Rs. 1,00,000;
Platinum (5 options) – Rs 2,00,000/4,00,000/6,00,000/8,00,000 or 10,00,000
Check this link for further information on this plan.
Check this link for further information on this plan.
HDFC Child Gift Saving Plan
This is also a special type of child education plan. Under this, the sum invested is cracked and invested as 53% to bonds and 18.4 to share (the remaining is kept in to the cash). The majority of these bonds which are invested will be of 3 star rating. This fund also has performed consistently well from the time it was started. Its previous year alone return was approx 14.45%.
Find more information about HDFC Child Gift Saving Plan.
LIC Jeevan Anurag
This is another plan or the child’s education which can be done to make one’s future brighter and safe. Under LIC Jeevan Anurag, 20% maturity compensation is done 3 years before the rule period ends. At this, maturing year 40% + bonuses are also given. Last year the bonus was Rs. 44 for every Rs.1000. This policy is best suited for the parents who have their children of age less than 7 years.
If you are looking for further information on LIC Jeevan Anurag then you can visit this official link of LIC.
ICICI SmartKid Child Plan
This is also a good ULIP plan that makes available the coverage to the parents as well If any one of the parent passes away then its profits are also provided to their child even after their death. To get the good returns at least 10 years investment is essential.
- Minimum/Maximum entry age (Parent): 20 -60 years
- Minimum/Maximum Entry Age (Child ): 0 -12 years
- Premium paying frequency: Monthly, Half-Yearly and Yearly
- Minimum Premium: Rs. 8,400 per annum
- Minimum/Maximum Sum Assured: Rs. 1,00,000 – Rs. 30,00,000
- Maximum age at Maturity (Parent): 70 years
- Tax benefits: Premium paid for this policy will be eligible for Tax benefit under Section 80 . Any benefit amount received under this policy will be eligible for tax benefits under Section 80C.
You can download this PDF brochure if you want full details about this SmartKid Plan.
AEGON Religare Rising Star
This policy offers triple life cover to the child education’s plan. In case of a parent’s loss either a sum guaranteed or 105% of the premium is paid without any delay. From the day of the death, child would also be given a sum equal to the annual premium until the plan period ends. The premium sum would be paid by the corporation itself to the finance. When the policy period is completed, child will be given the entire fund value.
Here is the link to the Rising Star plan to understand this & know the benefits.
Met Bhavishya Child Plan
This plan can also help one to make their child future more secure and enhanced as well. It provides funds on the right time i.e., as and when one needs for it.
Plan at Glance
Option A Option B Minimum Entry Age of the Child 0 years 0 years Maximum Entry Age of the Child 8 years 12 years Minimum Entry Age of the parent 20 years 20 years Maximum Entry Age of the Parent 50 years 50 years Policy Term 21 years 25 years – Age at Entry Minimum Sum Assured Rs 1,00,000 Rs 1,00,000 Maxim
um Sum Assured
No Limit No Limit
Find more information on Met Bhavishya Child Plan.
SBI Child Education Plan
The Child education plans offered by the SBI Life are one of the best in the industry and in case you want to calculate the amount that you would require for spending on your child’s education then you can also take help from the Child Education Planner option available on their website.
Find further information here.
Bajaj Child Gain
Bajaj a leading name in the financial sector also offers different Child plans and you can compare the plans offered by them with other plans that are offered with the help of comparison calculator available on their website.
- Limited Premium Payment Term – Premiums are payable till your child attains age 18 years.
- Growth in Contributions by the way of compounded annual bonuses.
- Tax Benefits are available under Section 88 and Section 10 (10 D) of the Income Tax Act.
- Assuring Your Child’s Future: We have built in some added benefits in all our plans to protect the interests of your child’s future.
- Option to Purchase Further Insurance at Maturity.
Birla Sun Life
Birla Sun Life allows you to plan for your child’s education in a unique way and that unique way is to calculate for your child’s future education with the help of a unique calculator available on their official web portal.
Check this link to get more details about this plan.
Max Life Insurance
Max Life Insurance offers different types of Child Plans and these plans are very useful when it comes to planning for your child’s education and future planning needs. Their main aim is to offer a bright future for your Child and to ensure that you are able to collect enough corpuses for your child’s future needs and his security.
Here is the link for further information.
So, given above are some of the major and the most important child education plans which can really help one to have a bright, more secure, tension free future in the life as well.