Top 3 Child Education Plans In India

Life will provide your kid with the same obstacles that you encountered in your own life, and it is your job to ensure that when such issues arise, your child is prepared and has the necessary tools to deal with them. A Child Education Plan not only guarantees your child's future but also provides you with a financial foundation. If you are not alive when the plan matures, you will be leaving assets to empower your child's future. jeopardized this article, we will outline an ideal Child Education Plan that you may choose as a parent for your child's bright future.

Top 3 Child Education Plans

The following are the top three child education plans:

1. HDFC LIFE YoungStar Premium Plan

HDFC Life provides one of the top Child Policy Plans available in the industry. It comes with two different Death Benefit choices. In the event of the policyholder's untimely death, only half of the premium will be charged. Four distinct fund investments are available. Additional protection against serious illnesses.

Features of HDFC SL Youngstar Super Premium Plan 

• The plan allows you to invest in one of four distinct fund types.
• The plan allows you to pick the amount of your premium.
• The plan helps to select a policy tenure of 10 years, 15 years, or 20 years.
• The plan helps to evaluate the sum assured.

Benefits Offered by HDFC SL Youngstar Super Premium Plan

• The policyholder can modify the plan to their own needs and preferences.
• The plan provides both insurance coverage and investment opportunities.
• Tax advantages are accessible under Section 80C of the Income Tax Act.

2. ICICI Prudential Smart Kid Assure Plan 

This is a Unit Linked Insurance Plan that helps to build a financial corpus for the children's better future while simultaneously providing insurance coverage. The following are the policy's characteristics and advantages.

Features of ICICI Pru Smart Kid Assure Plan

• The plan provides two premium payment options: regular pay and single pay.
• The insurance has a maximum maturity age of 64 years.
• The plan provides several fund alternatives for investment.
• The policy tenure spans from ten to twenty-five years.

Benefits Offered by ICICI Pru Smart Kid  Assure Plan

• The plan provides full protection to ensure the child's financial future.
• The plan provides two portfolio strategies from which to pick.
• The advantage of loyalty addition and wealth booster is provided under the policy of long-term investment.
• Tax breaks are available.

3. Bajaj Allianz Young Assure Plan

The Bajaj Allianz Young Assure plan helps you meet your financial objectives by providing support for future costs. The maturity benefit can be received in three installments. Additional Bonuses in addition to the Sum Assured upon maturity Accidental Life Disability gain is available. There are 5 distinct Riders available.

Features of Bajaj Allianz Young Assure

• The policy allows for a minimum admission age of 18 years and a maximum entry age of 50 years.
• The policy's maximum maturity age is 60 years.
• The insurance provides several premium payment and policy term choices.
• For a greater sum guaranteed amount, the insurance provides a premium rebate.

Benefits of Bajaj Allianz Young Assure 

• When the insurance matures, the policyholder receives a guaranteed maturity bonus in addition to the guaranteed additions.
• The insured individual receives the vested bonus plus any terminal bonus at the policy's maturity.
• The policyholder can opt to receive the maturity benefit over three, five, or seven years, based on key life events for the kid.
• The policy has additional rider benefits that supplement the policy's coverage.
• Tax advantages are available under Sections 80C and 10(10D) of the Income Tax Act.

Conclusion 

These are the most effective child education plans on the market. The offered advantages ensure that your child's aspirations are not jeopardised due to financial difficulties.

You may also like to read - Reasons Why You Must Invest In A Child Life Insurance 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.