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What is Child Insurance Plans?

Child Insurance Plans are the best way for investing in your child's future. From a very early age of the child, the parent can invest fixed amounts every year which can be timed to mature when the child attains a certain age, say 18 years. Major events in the child's life, like marriage or higher studies can be planned and financed by Child Insurance Policies if the parent takes adequate plans at the right time. Plans can be purchased as soon as the Child is born.

In certain Child Plans there are built-in flexibilities which keep the policy active and waive off the premium even after the death of the parents. These options are extremely useful as no other financial instrument offers such flexible options. Most plans come with built-in riders or add-on covers such as Waiver of Premium benefit.

Types of Child Insurance Plans?

Child Insurance Plans come in 2 variants:

Traditional Plans

Traditional plans in which the amount of payout is guaranteed. Here the investments are usually made in safe and low yielding products. The returns will not be great but they will be stable and predictable.


ULIPs - here the investments are more into equity markets and the chances of returns over a longer period of time are much higher. The policyholder can even choose to invest in debt instruments, in which case it becomes similar to the traditional plans investments. The flexibility is completely in the hands of the investor and one can switch between the types of funds also.

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