Fixed Deposit for Child in HDFC

It becomes imperative to secure the children’s future financially to fulfil their future needs and expenses in the long run. HDFC has come up with insurance plans that have been designed exclusively for your children. Underneath are the features and benefits to help you choose the most viable option at your disposal.

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

Wealth Boosters

Get rewarded with Wealth Booster and Loyalty Bonus for staying invested with us

Zero Commission

We charge no commission when you buy from us. Also buy online & get extra

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

We are rated^~

7.7 Crore

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Insurance Partners

4.2 Crore

Policies Sold

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr^# Tax-Free* on Maturity

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We are rated^~

7.7 Crore

Registered Consumer

Insurance Partners

4.2 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.

HDFC Life Click 2 Wealth – Premium Waiver Option

A unit-linked insurance plan with market-linked returns and life protection for you and your family.

Key features of the plan:

Two charges, one for the fund's management and the second as mortality charge towards life cover.
Multiple premium options of single pay, regular pay, and limited pay.
Premium waiver benefit
Three plans to choose from (a) Invest Plus Option for Insurance cum Investment, (b) Premium Waiver Option to protect milestones for dependents, and (c) Golden Years Benefit Option for Retirement Planning with Whole Life Cover.

Premium payments and policy term

Points to know	Invest Plus	Premium Waiver Option	Golden Years Benefit Option
The plan	A plan that provides accumulated fund value at maturity.	In case of the policyholder's demise, all the future premiums are waived, and the life assured is paid the sum at maturity.	A combination of retirement planning and/or leaving a legacy behind.
Maximum premium	No limit	No limit	No limit
Minimum premium	Monthly: INR 1,000/- Quarterly: INR 3,000/- Half-yearly: INR 6,000/- Annual: INR 12,000/- Single: INR 24,000/-	Monthly: INR 1,000/- Quarterly: INR 3,000/- Half-yearly: INR 6,000/- Annual: INR 12,000/- Single: INR 24,000/-	Monthly: INR 1,000/- Quarterly: INR 3,000/- Half-yearly: INR 6,000/- Annual: INR 12,000/- Single: INR 24,000/-
Term of the policy	10 to 40 Years	10 to 40 Years	99 minus age at entry
Maturity age	18-75 Years	18-75 Years	99 Years
Age at entry	30 days to 60 Years	30 days to 60 Years	30 days to 60 Years

Sum assured:

Premium	Single pay	Regular & limited pay	Top-Up
Minimum	1.25 x single premium	10 x annualized premium	1.25 x top-up premium
Maximum	As per board approved underwriting policy	As per board approved underwriting policy	As per board approved underwriting policy

HDFC SL YoungStar Super Premium

Valuable financial protection for your child, with yearly payouts to your family in the event of your unforeseen death. It allows investing in various funds and also provides flexible payment preferences as enumerated underneath:

Choice of premium and level of protection

Minimum: Minimum of INR 15,000/- as premium and a minimum sum assured of 10^annualized premium in case the age is less than 45 years; whereas 7^annualized premium in case of age equal to 45 years and above.

Maximum: No limit on premium payments and a maximum sum assured of 40^ annualized premiums.

Plan options

Life option for death benefits
Life & health option for the death benefit in addition to critical illness benefit

Benefit payment preference:

Save benefit	Save and gain benefit
HDFC pays the assured sum to the nominee.	HDFC pays the assured sum to the nominee.
Your family will not pay any further premiums, and 100% of the premiums are payable by HDFC towards your policy, and all risk covers will cease.	Your family will not pay any further premiums. HDFC will pay 50% of all the future premiums of your policy, and the balance 50% will be paid to the nominee as, and when due on an annual basis, and all risk covers will cease.
On maturity, the fund value is payable to the nominee.	On maturity, the fund value is payable to the nominee.

Choose your investment funds: You can choose among the Income, Balanced, Blue Chip, and Opportunities Fund. Furthermore, you can move your accumulated funds from one fund to another available fund anytime or choose to put your premiums in future in a different fund as per your needs.

Eligibility:

Parameter	Life and health option	Life option
Minimum age to entry	18 Yrs	18 Years
Maximum age on entry	55 Yrs	65 years
Maximum age on maturity	65 Yrs	75 Years
Minimum policy period	10 Yrs	10 Years
Maximum policy period	20 Yrs	20 Years

Receipt of your money:

On maturity: The policy matures at the end of the policy term you have chosen, and all your risk cover ceases. You can redeem your balance units at the then prevailing unit price and take the fund value. You can take your fund value in periodical instalments over a period that may extend to a maximum of 5 years.
On death: In case of your demise during the policy term, the benefit payable to your beneficiary will be determined by the benefit payment preference chosen by you. The minimum death benefit will be at least 105% of the total premiums paid.
On critical illness: In case you are diagnosed with any critical illness covered before the end of the policy term, the benefit is determined based on the benefit payment preference. The death benefit protection ceases immediately.
By partial withdrawal: You can withdraw lump sum amounts from the fund after 5 years of the policy provided,
- The minimum withdrawal amount is INR 10,000/-
- The maximum amount which can be withdrawn is 300% of the original regular premium.
- After the withdrawal, the fund value should not be less than 150% of the original premium.
On discontinuance: The plan has a grace period of 30 days. You are expected to pay your annual premium throughout the policy term. During the grace period, the policy is considered to be active without any interruption along with the risk cover.

Unique Triple Benefit

Future premiums paid by insurer on parent's death

Monthly income to fund child's education on parent's death

Lumpsum payout to family on parent's death

Returns

Return as of Apr 2024
12%-15%
8.2%
7.1%

Availability

Availability
Girl Child or Boy Child
Girl child only
Girl Child or Boy Child

Max Entry Age
Upto 18 years
Upto 10 years
No Age Limit

Flexibility

Invested Amount can be Withdrawn after
5 years
21 years
15 years

Conditions for Premature closure
Anytime after 5years
Extreme Compassionate Grounds
Serious Ailments or for education

Penalty on Premature Closure
No Penalty after 5 years
Returns reduced to Post Office Savings rate
1% reduction in interest rate

Max deposit amount in an year
No Limit
1.5 Lacs
1.5 Lacs

Documentation

Documentation Required for Withdrawal
Low
High
Low

View Plans

HDFC Life Youngstar Udaan

A plan designed for parents who are keen to vouch for the academic expenses of their children before a college education or have specific goals in mind like college fees or marriage expenses.

It has the following features:

It is readily available with a short medical questionnaire-based underwriting.
The insurance coverage is available throughout the policy term, even after paying premiums for a limited term.
Three distinct maturity options are available.
Manifold premium options.
Participating in a money-back and endowment plan with multiple options.

Premiums: Multiple premium options are available annually, half-yearly, quarterly, or monthly. The minimum limits specified are as under:

Period	Minimum instalment premium	Maximum instalment premium
Annual	INR 24,000/- (+ applicable taxes)	No limit
Half-yearly	INR 12,000/- (+ applicable taxes)	No limit
Quarterly	INR 6,000/- (+ applicable taxes)	No limit
Monthly	INR 2,000/- (+ applicable taxes)	No limit

Policy Term: The minimum policy term is 15 years with a maximum of 25 years. Furthermore, the term can range from 7 years, 10 years, or the policy term minus 5 years.

Eligibility criteria:

Eligibility criteria	Death benefit options	Maturity benefit options	Minimum	Maximum
Age at Entry	Classic	Option 1: Aspiration	0 Years (30 days)	60 Years
	Classic	Option 2: Academia	8 Years	60 Years
	Classic	Option 3: Career	8 Years	60 Years
	Classic Waiver	All options	18 Years	55 Years
Age at Maturity	Classic	Option 1: Aspiration	18 Years	75 Years
	Classic	Option 2: Academia	23 Years	75 Years
	Classic	Option 3: Career	23 Years	75 Years
	Classic Waiver	All options	33 Years	75 Years

Death benefits: The policy offers two different options as per your requirements; the same has been enumerated underneath:

Classic death benefit option: The death benefit shall be higher of (a) Sum assured on death and (b) 105% of the total premium paid.

Where the sum assured on death shall be higher of (a) Sum assured on maturity and (b) 10 times annualized premium for entry age up to 50 years and 7 times annualized premium for entry age greater than 50 years.
Furthermore, accrued guaranteed additions, accrued reversionary bonuses, interim bonuses, and terminal bonuses would be payable.

Classic waiver death benefit option: The benefit shall be higher of (a) Sum assured on death and (b) 105% of the total premium paid.

Where the sum assured on death shall be the higher of (a) sum assured on maturity and (b) 10 times annualized premium for the entry age up to 50 years and 7 times annualized premium for entry age greater than 50 years.

Maturity Benefits: At the time of maturity, the policy provides benefits such as reversionary bonus, interim bonus, and terminal bonus, along with accrued guaranteed additions, last guaranteed payout for money-back options, or sum assured on maturity for endowment option.

Maturity benefits options: There are three maturity benefit options available which are of two types:

(a) Endowment option (Option 1) – whereby a lump sum is paid at maturity. The option is termed Aspiration.

(b)Moneyback options (Option 2 & 3) – These options are termed as Career and Academia, whereby the payouts are offered in the last 5 years before maturity.

Option 1: Aspiration

Year of Payout	Lump-Sum Paid at maturity
How Much?	100% of sum assured + GA (25% of sum assured)
How can the payouts be used?	A lump sum that can be used to pay for marriage expenses or starting up a business venture.
Guaranteed payout amount for INR 5 Lakhs of sum assured on maturity	INR 6,25,000/-

Option 2: Academia

Year of payout	How much?	How can the payouts be used?	The guaranteed payout amount for 5 Lakhs of sum assured on maturity
At maturity	15% of SA + GA (25% of SA)	Further education	INR 2,00,000/-
1^st year before maturity	15% of SA	Course fee or hostel expenses	INR 75,000/-
2^nd year before maturity	15% of SA	Course fee or hostel expenses	INR 75,000/-
3^rd year before maturity	15% of SA	Course fee or hostel expenses	INR 75,000/-
4^th year before maturity	15% of SA	Course fee or hostel expenses	INR 75,000/-
5^th year before maturity	30% of SA	For professional course	INR 1,50,000/-

Option 3: Career

Year of payout	How much?	How can the payouts be used?	Guaranteed payout amount of INR 5,00,000/- of sum assured on maturity
At maturity	40% of sum assured + GA (25% of SA)	Further education abroad, marriage expenses, or higher post-graduation studies	INR 3,25,000/-
1^st year before maturity	15% of sum assured	Graduation	INR 75,000/-
2^nd year before maturity	15% of sum assured	Graduation	INR 75,000/-
3^rd year before maturity	15% of sum assured	Graduation	INR 75,000/-
4^th year before maturity	15% of sum assured	Higher secondary or junior college	INR 75,000/-
5^th year before maturity	15% of sum assured	Higher secondary or junior college	INR 75,000/-

FAQ's

Why should you invest in child policies?

The college fees of your children can be a huge burden. Private schools are expensive, and the foreign university fees are touching the skies. Further, marriage expenses can dry your savings. This is where investing in a child policy becomes all the more important.
How much should you be saving for your child’s future?

The amount you need to save for your child’s future is subject to several factors, such as their aspirations, expectations, future goals, and dreams.
What are the documents required for purchasing the plan?
- Proof of age can be a passport copy, birth certificate, or your education mark sheets
- Proof of identity: KYC documents such as Pan Card, Aadhaar Card, Driving License, Voter Id
- Proof of income like salary slips, Form 16, Income Tax Returns
- Proof of address: Any document like passport, driving license, Aadhaar card
How to select the right child insurance plan?

Compare all the available options subject to your requirements and expectations. Work with an expert to determine and clarify all the terms and conditions the policy is subject to and then make your purchase.
Do the policies provide income tax benefits?

Yes, the premiums paid are allowed as deduction under Section 80C of the Income Tax Act, 1961, subject to a limit of INR 1,50,000 only.

†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 based on past 10 years’ fund performance (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
*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.