Every parent dreams of providing the best for their child - a bright education, endless opportunities, and consistent support for their dreams. However, these dreams lie the financial responsibility, which, if left unaddressed, can become a significant burden.

Child plans cover everything providing financial security and peace of mind to ensure that your child's future remains secure, even in uncertainties.

What is a Child Plan?

A Child Plan is a specialized insurance designed to secure the financial future of your child, particularly for education and other significant life milestones. It combines the benefits of insurance and investment, providing a comprehensive solution to meet the evolving needs of your growing child. This insurance provides a safety net to your child in case of uncertainties making it an ideal choice for responsible parents to secure their child's future.

Discover various options and choose the best child insurance plan from Policy.Online. Compare quotes and prices and choose a policy tailored to meet the unique requirements of your child's journey.

5 Major Reasons to Invest in Child Plans

Regular Income Availability

Life is unpredictable, and we understand this. That's why we offer the best child plans with the potential to offer regular income throughout the policy term or even after the insured parent's demise. This provides a consistent financial support system for your child without the obligation of further premium payments.

Premium Waiver Availability

At Policy.Online, we understand the importance of alleviating the financial burden on the surviving parent. Premium waiver availability options ensure that the financial responsibility of policy continuation doesn't fall on the shoulders of the parent. This means that the plan remains active without the need for the parent to continue paying premiums. Therefore, it makes your child's future remain secure, regardless of the uncertainties life may present.

Increasing Existing Cover

Child plans often have the flexibility to increase the existing coverage through riders like the Term rider. This allows parents to enhance the Sum Assured with a nominal additional premium, providing an extra layer of financial protection for the child.

Collateral

Planning for the higher education of your child involves financial commitments. That's why we offer a child education plan that you can use as collateral when applying for an education loan. This eliminates the financial burden on the parents while making your child's academic dreams come true.

Partial withdrawal

In times of medical emergencies, child Plans offer the flexibility of partial withdrawal. This enables policyholders to access a lump sum amount from the yet-to-mature policy. This pay-out will act as a supplementary fund to your health insurance plan.

Tax benefit

Under existing tax laws, premiums paid toward child plans are exempted under Section 80C of the Income Tax Act. Additionally, the maturity benefits are also tax-exempt under Section 10(10D). This dual benefit makes these plans an attractive and tax-efficient investment option for securing your child's future.

What to Know Before Buying a Child Insurance Plan

Funds Requirement

Before selecting a child insurance policy, evaluate the funds required for your child's futureto support their dreams and aspirations in life. Utilize child plan calculators to determine the right amount covering the cost of education to give them the best opportunities for their potential and growth.

Support girl child education and let them reach great milestones in life with Policy.Online. Discover various coverage options and choose what's best for your child.

Time Period

Child Plans vary in duration, aligning with the different stages of your child's life. Consider the time horizon for your child's financial goals for securing their future. A longer duration allows for the power of compounding to work with a customized approach potentially increasing the plan's returns.

Risk Appetite

Risk is the part of success. That's why the HDFC child plan offers the flexibility to choose from four funds catering to different risk profiles:

Income Fund: Higher potential returns due to increased duration and credit exposure.

Balanced Fund: Dynamic equity exposure to enhance returns with reduced volatility from debt allocation.

Blue Chip Fund: Investments in large-cap equities for stability.

Opportunities Fund: Investments in mid-cap equities for potential growth.

Coverage

Child plans covered by Policy.Online offers extensive coverage that completes the financial needs of their future. These plans provide comprehensive security that covers everything including education and other stages of life so that their dreams are not compromised due to financial constraints.

Conclusion

Securing your child's financial future is a responsibility that requires careful planning and foresight. Policy.Online serves as a reliable partner in this, offering financial security and investment growth for your child. Don't wait, Invest in child plans today. Because every child deserves equal opportunities.