Know All About ICICI Pru Smart Kid Solution Plan

ICICI Prudential Life Insurance has curated a plan specifically to fund your child’s higher education. This plan lets you grow your investments and provide for higher education for your child. ICICI Pru Smart Kid Solution is a specially designed plan for people who want to grow their wealth to provide for their child’s higher education expenses. This is a unit-linked insurance plan. 

This plan is a mix of insurance and investment opportunity. This plan offers multiple fund options that you can choose from, and invest in a fund option that will help you reach your desired goals. This plan also provides you with life cover and provides your family financial security in your absence.

Key Features of ICICI Pru Smart Kid Solution Plan

Following are the the key features of ICICI Pru Smart Kid Solution Plan:

• Comprehensive Life Cover
• Offers Multiple Fund Options
• Offers Flexibility to Choose Premium Payments Options
• Offers Partial Withdrawal

Benefits of ICICI Pru Smart Kid Solution Plan

Following are the benefits that you can avail under ICICI Pru Smart Kid Solution Plan:

1. Life Cover: ICICI Pru Smart Kid Solution plan offers life cover and an opportunity to invest money in market-linked fund options. Since it is a type of life insurance, this plan provides a death benefit. In case of an unfortunate demise of the life assured during the policy term, the insurance company will provide a death benefit to the nominee.
2. Wealth Appreciation: Under ICICI Pru Smart Kid Solution plan the company may add wealth boosters, through which you can grow your investments without investing your money in additional investments. 
3. Option to Choose an Investment Strategy: ICICI Pru Smart Kid Solution plan offers 2 investment strategies to choose from, which are Fixed Portfolio Strategy and Life-cycle based strategy. Under the fixed portfolio strategy you can choose to manage your wealth by investing it according to your risk tolerance. 
4. Multiple Fund Options: ICICI Pru Smart Kid Solution is a unit-linked insurance plan, it offers flexibility to choose from multiple investment options such as equity funds, cash funds, debt funds etc. 
5. Partial Withdrawals: From the sixth policy anniversary, you are eligible to withdraw a part of your money as per your requirements. After policy completes its 6th year you can make partial withdrawal to ensure you have access to your money but at the same time the invested money is growing.

Eligibility Criteria of ICICI Pru Smart Kid Solution Plan

Following is the eligibility criteria of ICICI Pru Smart Kid Solution plan:

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.