Which Is The Best Plan For Girl Child?^~

Picking the best plan for your daughter may seem like a task but it is important that you do your research before deciding. Most parents look for a comprehensive plan that offers well-rounded coverage as well as wealth creation prospects. A child plan with a ULIP component might prove to be the best option for your daughter.

Investing in your child's future:A wise decision & a loving choice

Benefits of Investing In Child Plan

Waiver of Premium Benefit

Future Premiums are paid by the insurer upon death of policyholder

Flexible Payout Options

Your premiums help your child achieve their dreams through lump sum or regular payouts

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Tax Benefits^

You get tax benefits under Section 80(C) and no tax on returns under Section 10 (10D)

Investment Flexibility

It offers the flexibility to invest at regular intervals or as a one-time contribution

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We are rated⁺⁺

9.7 Crore

Registered Consumer

Insurance Partners

4.9 Crore

Policies Sold

Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

How To Choose The Best Plan For Girl Child?^~

Your daughter deserves the best and she should be secured with the best financial instruments out there. To know which is the best plan for your girl child, you need to identify what your goals are. Take into consideration the rate of inflation, her age, your annual income, time till she attends school or college, cost of education, and living expenses if she chooses to pursue a field in a foreign country. All of these factors influence the choice of plan.

Why Should You Choose ULIPs For Girl Child?

Ideally, ULIPs can earn you the best returns as well as offer financial respite in case of eventualities. Some of the key benefits of ULIPs are:

These plans invest a part of the premiums in equity and debt funds that generate significant returns to grow a huge corpus.
Although the investment risk is borne by the parent, ULIPs come with a range of low and high risk fund options which balances out the risk involved.
Moreover, the insurance component of these plans makes sure that your family is taken care of in your absence.
Notably, most child ULIPs waive off future premiums payable in such cases but keeps the money invested till the end of the term to continue generating returns for the child.

In addition to growing your savings, you should also consider buying a term insurance policy that offers financial assistance to your family in case of your demise. A combination of these policies for your girl child can give her comprehensive protection, without her struggling to finance her education or other needs.

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Invest ₹8K/Month YOU GET ₹80 Lakhs^* For Your Child View Plans

Invest ₹5K/Month YOU GET ₹50 Lakhs^* For Your Child View Plans

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Best Plans For Your Girl Child^≈

The table lists the best investment plans for a girl child along with child savings plans for parents with varying risk appetites. The following plans can be the best fit for your girl child and help give wings to her dreams and aspirations:

Plan Name	Type Of Plan	Eligibility Criteria (Premium, SA, Entry Age)
Aviva Young Scholar Secure Plan	Savings based Insurance Plan	Minimum Annual Premium - Rs. 50,000/- Minimum Sum Assured - 10 X annual premium Entry Age - Parent: 21-50 years; Child: 0-12 years
Bajaj Allianz Young Assure	Savings based Insurance Plan	Minimum Annual Premium - NA Minimum Sum Assured - 10 X annual premium Entry Age - 18-50 years
HDFC SL YoungStar Super Premium	Child ULIP	Minimum Annual Premium - Rs. 15,000/- Minimum Sum Assured - 10 X annual premium Entry Age - 18-65 years
ICICI Pru SmarKid Plan	Child ULIP	Minimum Annual Premium - Rs. 45,000/- Minimum Sum Assured - Higher of (10 x Annual Premium) or (0.5 x Policy term x A.P) Entry Age - 20-54 years
Max Life Shiksha Plus Super	Child ULIP	Minimum Annual Premium - Rs. 25,000/- Minimum Sum Assured - Rs. 2.5 Lakh Entry Age - 21-50 years
SBI Life Smart Champ	Savings based Insurance Plan	Minimum Annual Premium - Rs. 6,000/- Minimum Sum Assured - Rs. 1 Lakh Entry Age - Parent: 21-50 years; Child: 0-13 years
SBI Life Smart Scholar	Child ULIP	Minimum Annual Premium - Rs. 24,000/- Minimum Sum Assured - Higher of (10 x Annual Premium) or (0.5 x Policy term x A.P) Entry Age - Parent: 18-57 years; Child: 0-17 years

Disclaimer: ≈ Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is done in alphabetical order (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

Summing Up!

The best plan for girl child will give you the assurance that your daughter is well taken care of in the case of emergencies. While ULIPs offer the best of both worlds viz. insurance and market-linked returns through investments, these come with certain risks. Therefore, it is important that you do your due diligence and pick a plan per your risk appetite. Further, it is equally important that you get a term insurance cover to compensate for the loss of income in your absence. If you have multiple children, be sure to assign different funds for each child.

˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CARG 8%; ₹50,45,591 @ CAGR 4%
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.