A Child Plan helps parents save and protect money for their child’s future — especially education, health, and financial security.
A Child Plan is an insurance + savings/investment policy designed to provide financial support for future expenses like school fees, college education, and emergencies.
It also ensures the child remains financially protected even if something happens to the parent.
You should consider a Child Plan if you want to:
Save money for long-term goals
Protect your child’s education
Create funds for college or skill training
Ensure financial stability even in your absence
Build disciplined savings habits
✔ Education fund for school & college
✔ Insurance protection for your child
✔ Waiver of premium if the parent dies
✔ Lump sum payout at maturity
✔ Partial withdrawal options for emergencies
✔ Tax benefits depending on the country’s tax laws
There are mainly three types:
Guaranteed returns
Low risk
Fixed maturity amount
Market-linked returns
Higher growth potential
Flexible fund options
Pure insurance
No maturity amount
High coverage, low cost
Most Child Plans offer long-term terms like 10 to 25 years, depending on when your child will need the money (e.g., for college at age 18).
If the parent dies during the policy term:
The child continues to receive all benefits
The remaining premiums are waived
The plan stays active without any further payment
This is one of the most important features of Child Plans.
There are usually two types of payouts:
A single large amount is paid when the child reaches a specific age.
Money is paid at different stages of the child’s life (e.g., age 12, 15, 18).
Yes. Many Child Plans allow partial withdrawals for:
School fees
Medical emergencies
Coaching or training
Tuition or supplies
Terms vary by plan.
Your policy may:
Become paid-up (reduced benefits)
Lapse (no benefits)
Be revived within a certain time by paying overdue premiums
Usually yes — depending on your country’s tax regulations.
Many plans offer:
Tax deductions on premiums
Tax-free maturity benefits
Check your local tax rules for exact details.
Traditional plans: Low risk
ULIP plans: Moderate to high risk (market-linked)
Choose based on your comfort level and financial goals.
The earlier the better.
Starting early allows:
Lower premiums
Higher returns
Longer time to grow savings
Most parents start when the child is between 0–5 years old.
No.
Parents or legal guardians are the policyholder.
The child is the beneficiary or insured child, depending on the plan structure.
You can use:
Partial withdrawals
Policy loans (depending on plan rules)
But this usually applies only after a minimum lock-in period.
Usually, parents may need medical tests.
Children generally do not require medical tests unless the plan specifically asks for it.
Common documents:
Parent’s ID proof
Parent’s income proof
Child’s birth certificate
Address proof
Passport-size photos
Some plans offer dual-protection:
Both parents can be covered
If either parent dies, the plan continues
At maturity, the plan pays the guaranteed or investment amount to help with:
College fees
Higher education
Skill development
Overseas studies
You can choose how the money is paid (one-time or in parts).
Child Plans are specifically designed to:
Provide insurance + savings
Protect funds even if the parent dies
Offer long-term growth
Regular savings accounts do not give these protections.
Look at these factors:
Your budget
Risk level (safe vs. investment)
Your child’s future goals
Premium waiver feature
Flexibility of withdrawals
Maturity age options
