Best Child One Time Investment Plan

A child plan comes with the option of the single premium payment that provides the dual benefits of insurance and savings. Furthermore, child plans in the form of ULIPs allow opportunities to significantly maximize your savings. Such child education plans act as one-time investment options that serve to address the different financial needs of a policyholder and his/her kids once the plan matures.

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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Zero Commission

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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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7.7 Crore

Registered Consumer

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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.

With the comprehensive benefits of child education plans along with wealth creation, can you think of a better deal to ensure a bright future for your child? This article features some of the best child education plans as one-time investment options*. Investing in one of these could prove to be the most sensible decision in financial planning for your child's future.

While the list may not be exhaustive, it should give you an understanding of the kind of child plans to invest in. Read along to make the best investment decision that will ensure a better tomorrow for your child.

How Is the Best Child Plan a One Time Investment?

Raising a child is not an easy task. With rising inflation, you must have good financial backup to save yourself from burning your pockets. Choosing a one-time investment plan for your child’s future will help ensure that they receive sufficient funds for each milestone of life. It is advised to purchase the best child education plan as a one-time investment that protects them after your demise and also creates enough capital to fund their educational pursuits. Potential buyers should invest in one at their earliest to let the power of compounding take effect and maximize their returns.

Key Highlights

Today the Indian market is flooded with innovative child education plans as one-time investment options offering diverse features and benefits. The key to making the best choice is to make an informed decision timely. Choosing the best one-time investment child plan ensures that it provides coverage and adequate benefits that give wings to your child's dreams.

The following are some important points you must consider while choosing a child plan:

The child plans’ benefit amount should be sufficient for those individuals who have an unsteady cash flow and payouts manageable in the case of fortune received from a fount.
The child plan premium is less when compared to any other regular policy premiums. This is so because the policy is bought in cash rather than making the prospective payments as installments. There are, however, several child education plans that offer the benefit of periodic premium payments as well.
The other highlight is in regards to the taxation benefit wherein you obtain the advantage of Section 80C in the initial year for the single premium plan against regular plans.

The table below highlights the child education plans^†† – one-time investment options offered by various insurance companies in India:

Name of the Plan	Entry Age	Maturity Age (Maximum)	Sum Assured
Aditya Birla Sun Life Child’s Future Assured Plan	18 to 65 years	75 years	Minimum- Rs 4,00,000
Aegon Life Rising Star Insurance Plan	18 to 48 years (Parent) 1 day to 15 years (Child)	65 years	Maximum Cover:For age less than 45 years - 18 x Annualised Premium For age above 45 years - 10 x Annualised Premium
Aviva Young Scholar Secure	21 to 50 years (Parent) 0 to 12 Years (Child)	71 years	Death Benefit: Higher of (10 X Annualised Premium) or (105% of paid premiums)
Bajaj Allianz Lifelong Assure	10 to 55 years	NA	Minimum- Rs 1,00,000
Bharti AXA Life Child Advantage Plan	Regular - 18 to 50 years Limited - 18 to 55 years	Regular - 71 years Limited - 76 years	Minimum - Rs 25,000
Canara HSBC Future Smart Plan	18 to 60 years (child must be below 18 years of age)	NA	Below 45 years of age: For 10,15 and 20 years policy term - 10x AP 25 years policy term - 12.5x AP 45 years of age and above - 7x AP
Edelweiss Tokio Life Wealth Secure+	Base: 0-50 years Life Partner: 18-50 years Child: 18-40 years	Base: 18-70 years Life Partner: 23-55 years Child: 23-55 years	Minimum: 7 x AP
Exide Life New Creating Life Insurance Plan	18 to 45 years	60 years	NA
Future Generali Assured Education Plan	21 to 50 years (Parents) 0-10 years (Child)	67 years	NA
HDFC Life YoungStar Udaan	Classic: For Aspiration - 30 days to 60 years For Academia and Career - 8 to 60 years Classic Waiver: 18 to 55 years	Classic: For Aspiration- 18 to 75 years For Academia and Career: 23 to 75 years Classic Waiver: 33 to 75 years	NA
ICICI Prudential SmartKid Solution	20 to 54 years	64 years	7x AP
IDBI Federal Life Insurance Dream Builder Plan	21 to 50 years	72 years	Rs 2,15,000
IndiaFirst Life Little Champ Plan	21 to 45 years	For 7-12 years: 65 years For 13-14 years: 70 years	Minimum - Rs 1,50,000
Kotak Headstart Child Assure	18 to 60 years	70 years	Minimum - Entry age < 45 yrs: Higher of (10 X AP) OR (0.5 X Policy Term X AP) Entry age >= 45 yrs: Higher of (7 X AP) OR (0.25 X Policy Term X AP)
LIC’s New Children’s Money Back Plan	0 to 12 years	25 years	Minimum - Rs 1,00,000
Max Life Future Genius Education Plan	21 to 45 years	66 years	For 8 pay Variant- Rs 3,27,000 (min.) For Limited Pay Variant- Rs 2, 12,000 (min.)
PNB MetLife Smart Platinum	7 to 70 years	NA	NA
Pramerica Life Rakshak Gold	18 to 60 years	65 years	Rs 75,000
Reliance Child Plan	21 to 55 years	65 years	Rs 50,000
Sahara Ankur Child Plan	0 to 13 years	40 years	For 10 years and below- Rs 15 lakh For 11 years and above - Rs 24.75 lakh
SBI Life – Smart Scholar	18 to 57 years	65 years	Limited Premium- 10 x AP Single-Premium- 1.25x Premium
Shriram Life New Shri Vidya	18 to 50 years	70 years	Rs 1,00,000
SUD Life Aashirwaad	18 to 50 years	70 years	Rs 4,00,000
TATA AIA Life Insurance Super Achiever	25 to 50 years	70 years	10x AP

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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

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How to Make the Best Child Education Plan a One Time Investment?

The key is to make an informed decision timely to reap the best benefits. The one-time investment child plans ensure that it provides adequate coverage that gives wings to the dreams of your child.

The following are some important pointers that every parent must consider while choosing the child plan in 2023:

Take the Decision Timely

It is prudent to act as early as possible. A timely decision works in your favor and helps you retain adequate coverage until your child is ready for higher education. Moreover, an unsaid rule in the insurance industry states that the earlier you buy insurance, the lower the premium rates are.
Beat the Inflation

When choosing a one-time investment child education plan, make sure that you select an adequate sum assured for guaranteed protection. In case it does not happen, the accumulated corpus may not be sufficient for the days of high inflation. The sum assured decided by you should be inclusive of projected inflation for the coming years.
Waiver of Premium

Most child insurance companies generally offer the option of waiver of premiums. In case your child's plan does not include this feature, you can add it as a rider option. It ensures that if the policyholder passes away, the nominee or child receives the waiver of premium benefit along with the sum assured.
Option of Partial Withdrawal

The partial withdrawal feature act as the safety cushion in case an emergency fund is required. You can get in touch with your insurance company to claim this offer during times of need. It is a crucial feature to have while buying a child's education plan.

The Bottom Line

The journey of parenthood is not easy, but rather full of responsibilities where you must take care of your child and fulfill their needs. Choosing an adequate child plan as a one-time investment can assure the financial safety of your child even after your death.

You can buy the best child insurance plan as a one-time investment option online, and compare the features, quotes, and make a wise decision to secure your child's prospects.

†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.
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^^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.