What is Child Plan?
Child Plan is insurance cum investment plan that serves two purposes – Financially secure your child’s future & finance the turning points in his/her life such as higher education and marriage. So, like a double-edged sword, the best child plan is designed to protect the future of your child in case of your unfortunate demise and at the same time, builds a corpus over a term to be utilized to finance prime moments in his/her life.
Child education plan gives you various benefits such as life cover, building a corpus for the child’s future needs and the option of adding specific riders.
|Child Education Plans||Entry age||Maximum Maturity age||Policy Term||Minimum Sum Assured|
|Aviva Young Scholar Advantage Plan||21 – 45 years||60 years||10 year – 25 years||10 times the annual premium|
|Max Life Shiksha plus plan||21 – 50 years||65 years||10 years or 15 – 25 years||10 times the annual premium|
|MetLife College Plan||20 years – 45 years||69 years||12 year – 24 years||Rs. 2,12,040/-|
|SBI Life Smart Scholar||18 years – 57 years||65 Years||8 years – 25 years||10/7 times the annual premium (regular pay)|
1.25times single premium (single pay)
|Aegon Life EduCare Advantage Insurance Plan||20 years – 60 years||75 years||14, 16 , 20 years||Rs. 1 lakh|