HDFC Child Double Benefit Plan: Benefits & Calculator

Before purchasing a plan, the policyholder can compare the many varieties that are offered using an online tool called a kid plan calculator. The HDFC Child Double Benefit Plan Calculator aids in determining the premium needed to finance the child's ongoing expenses.

Before determining the premium rate, the online kid plan calculator takes into account a number of variables, including interest rates, inflation, and the child's current age. The online tool also provides the user with information on how much life insurance is required and how much money the client will get overall after the policy term. To know more about HDFC Child Double Benefit Plan, read on.

What Is A Child Insurance Plan?

It is a well-organised plan that enables parents to set aside money consistently to meet their children's milestones, such as marriage and school. It includes insurance coverage for either the parent or the child.

HDFC Child Insurance Plans in 2024

The HDFC Children's Plan is a conventional child insurance policy that offers the policyholder a wide array of advantages from which to pick. The parent's life is insured under this plan, but the kid is the only beneficiary. It makes sure that the child's future is protected in all three scenarios so that even if something were to happen to the father during the policy's term and prevent him from finishing it, the child's future would still be protected by giving him the guaranteed benefits.

This is a complete protection strategy that is guaranteed for your youngster. If you want to provide your kid with the essential benefits, you may choose an Accelerated Benefit Plan. Under this plan, your child would get the Sum Assured + Bonuses at the maturity of the policy or upon an early death within the policy term. This guarantees that your child will always get the lump sum payment you had set up for her future.

What Is The Need For HDFC Child Double Benefit Plan Calculator?

Following are the reasons for the need for HDFC Child Double Benefit Plan Calculator -

1. The user can calculate the premium rate necessary to achieve the kid's milestones using the child plan calculator.

2. It aids the consumer in determining the risk associated with selecting an appropriate plan. More risk-averse customers can choose a unit-linked plan, while those who are more cautious can opt for a term or savings plan of their choosing.

3. Using the kid plan calculator again, the consumer may choose a premium that is long-term reasonable for them.

4. Customers may also put riders in the kid plan calculator to observe how the premium and benefit amount vary.

5. The calculator for the HDFC Child Double Benefit Plan provides a thorough understanding of the assured enhancements as well.

Why Should Anyone Buy HDFC Child Double Benefit Plan?

Following are the reasons for anyone to buy the HDFC Child Double Benefit Plan -

1. Death Benefit

• The nominee of the life insured will receive the death benefit as well as any promised enhancements and extras if the life insured passes away as a result of unforeseeable circumstances.
• All upcoming due premium payments for the insurance will be waived by the insurer under the Classic Waiver Death Benefit Option. The payouts will carry on as planned throughout the policy period.

2. Maturity Benefit - Three alternatives are available for the maturity benefit, and they are as follows -

1. Goal - A lump amount when I reach adulthood
2. Education - A five-year payout that includes 15% of the sum promised every year for the first four years and 30% of the money assured in the final year.
3. Professional life - For the first five years, 15% of the sum insured is paid out annually; the remaining 40% is paid out at maturity.

3. Certain Additions - If the time for paying the premiums is 10 years or more, the plan offers the option for extra boosters to the policyholders.

Endnotes

HDFC’s child savings programmes provide a pair of advantages by protecting beneficiaries with life insurance and building a fund for the children's future.