1. Child plan

2. Child Plan
A child insurance policy is
a saving cum investment The Maturity amount of
plan that is designed to a child life insurance
meet your child‘s future Policy is tax-free.
financial needs.
Whoever has children
dependent upon them
Tax benefits are offered
can buy child plans. They
under section 80C and
can be parents,
10(10D) of the Income
grandparents or legally
Tax Act, 1961.
assigned guardians of the
child.

3. Why Child Plan
A child insurance policy
allows children the freedom
Children's Plans helps you
to realize their future dreams
save so that you can fulfill
like higher education, study
your child's dreams and
abroad, etc.
aspirations. Securing your
Child insurance policy gives
child's future by financing the
the advantage to start
key milestones in their lives
investing right from the time
even if you are no longer
the child is born and
around to oversee them.
withdraw the savings once
the child reaches adulthood.

4. Points to consider before you buy
policy…
Riders Available: To ensure
Payer benefit and waiver of
that the child plan does not
premium: Premium waiver in
lapse in case the payer does
a child plan implies that if the
not survive the policy term,
parent does not survive the
there are certain riders
policy term, all future
available with it. The most
premiums will be waived off
important child plan riders
and the policy will still
are payer benefit and waiver
remain in force.
of premium.

5. Allocation Charge: Allocation
charge is the amount Guaranteed Benefit:
deducted by the insurance Guaranteed benefit is a
company from the premium percentage of sum assured
before investing in various that is guaranteed by the
funds. Allocation charges insurance company in
may be negligible in addition to the maturity
traditional plans but more amount.
prominent in ULIPS.

7. Types of Children's Plans
Conventional Plans Unit Linked Insurance Plans
•HDFC Children’s Plan •HDFC SL YoungStar Super II
•HDFC SL YoungStar Super Premium
•Conventional Plans are traditional •Unit Linked Insurance Plans offered
insurance plans. They usually invest in by insurance companies allow policy
low risk return options and offer holders to direct part of their
guaranteed maturity proceeds along premiums into different types of
with declared bonuses funds (equity, debt, money market,
hybrid etc.) Here the risk of
investment is borne by the
policyholder.

8. Eligibility conditions in HDFC Life Children’s
Plan
Entry Age of
Premium
Policy Term (in Policyholder (in
Payment Term
years): years):
(in years): Equal
Min/Max-10/25 Min/Max –
to Policy Term
18/65
Regular Pay Payment
premium (in modes: Yearly,
Rs.):Min/Max - Half-yearly or
No Limit Quarterly

9. Eligibility conditions in HDFC SL Young Star Super Premium Plan
&
HDFC SL Young Star Super II Plan
Entry Age of
Premium
Policy Term (in Policyholder (in
Payment Term
years): years):
(in years): Equal
Min/Max-10/20 Min/Max –
to Policy Term
18/65
Regular Pay
Payment
premium (in
modes: Only
Rs.):Min/Max -
Yearly
15,000/No Limit

10. HDFC Standard Life insurance
Children’s Plan
HDFC SL Children’s Plan is traditional child plan with a large
amount of variety provided to policyholder.
In this plan, the life of the parent is insured but the child is
the sole beneficiary.
There are 3 Plan Options that can be chosen:
Accelerated Benefit Maturity Benefit Plan Double Benefit Plan
Plan

11. Benefits of Policy
Income Tax Benefit -
Life Insurance
Maturity Benefit – premiums paid up to
On maturity, Sum Rs. 1,00,000 are
Death Benefit Assured + Bonuses allowed as a
are paid under all 3 deduction from the
Plan Options. taxable income each
year under section
80C
Maturity Benefit Plan- Double Benefit Plan-
Accelerated Benefit Nothing is paid but the Sum Assured is paid and
Plan- Sum Assured + policy continues such the policy continues
Bonuses and the policy that the future such that the future
is terminated premiums are waived off premiums are waived off
and paid by the insurer and paid by the insurer.

13. ICICI Pru SmartKid Regular
Premium
(Traditional plan)

14. Minimum Premium Rs. 8,400 p.a.
Modes of Premium Payment Yearly / Half yearly / Monthly
Minimum / Maximum Sum Assured Rs. 1,00,000 / Rs. 30,00,000
Minimum / Maximum age at entry
20 / 60 years
(Parent)
Minimum / Maximum age at maturity
50 / 70 years
(Parent)
Minimum / Maximum age at entry
0 / 12 years
(Child)
Minimum / Maximum age at maturity
22 / 25 years
(Child)
Minimum / Maximum Policy Term 10 / 25 years

15. Additional features
Guaranteed
Death benefit
educational benefits
SA paid immediately
Option 1: Benefits at critical
educational milestones Future premium paid by
company
Option 2: Avail of benefits in
the last 5 years of the policy Income Benefit Rider
Accident and Disability
Benefit Rider

16. ICICI Pru SmartKid Premier
(ULIP Plan)

17. Premium payment option Minimum annual premium (Rs.)
Regular pay 18,000
minimum Premium Limited pay 5 48,000
Limited pay 7 36,000
Limited pay 10 18,000
Maximum Premium Rs. 100,000 per annum
Modes of Premium Payment Yearly / Half yearly / Monthly
Premium payment option Premium payment term
Regular pay Policy term
Premium Payment Term (PPT) Limited pay 5 5 years
Limited pay 7 7 years
Limited pay 10 10 years
Policy Term 10 / 15 / 20 / 25 years
Higher of (10 × annual premium) and (0.5 × Policy Term × annual
Minimum Sum Assured
premium)
Maximum Sum Assured As per the maximum Sum Assured multiples
Minimum/ Maximum age at entry
20 / 60 years for Single Life, 55 for Joint Life
(Parent)
Maximum age at maturity (Parent) 70 years for Single Life, 65 years Joint Life
Minimum/ Maximum age at entry
0 / 15 years
(Child)
Minimum/Maximum age at
18 / 25 years
maturity (Child)

18. Additional Benefits
Loyalty Additions: Loyalty additions
Maturity benefit: At maturity, the shall be allocated at the end of every
Fund Value including the Top up fifth policy year, starting from the end of
Fund Value (if any), shall be the 10 policy year, provided all due
payable. Alternatively, you can opt premiums have been paid. This loyalty
addition will be calculated as 2% of the
for the Settlement Options
average of Fund Values on the last d ay
available
of the eight policy quarters preceding
the said allocation.
Death benefit: In the unfortunate event of death of the parent (Life Assured) during the
term of the Policy, the following benefits are payable:
Higher of Sum Assured and 105% of the total premiums (including top-up
premiums) paid till date would be paid
All future premiums payable under the policy will be waived by the Company
If the joint life option is chosen, the death benefit shall become payable on death of
either of the parents, whichever is earlier

19. SBI LIFE

20. SBI Life - Smart Scholar Plan
(ULIP Plan)
Age at Entry * Child: Min: 0 years Max: 17 years
Proposer: Min: 18 years Max: 57 years
Max. Age at Maturity 65 years
Policy Term Min: 8 years
Max: 25 years less child’s age at entry
(On Maturity, the age of child should be between 18 to 25
years)
Premium Payment Terms • Single Premium
(PPT) • 5 to 25 years (subject to the limits of policy term)
Premium Amounts(x100) Minimum:
PPT Frequency Minimum(Rs)
SP Single 75,000
Yearly 50,000
Half Yearly 25.000
5 years to 7 years
Quarterly 12,500
Monthly*** 4,500
Yearly 24,000
Half Yearly 16,000
8 years or more
Quarterly 10,000
Monthly*** 4,000
Maximum : No Limit
Sum Assured For Single Premium:
Minimum Maximum
Across all ages Age<45 years Age=>45 years
1.25 * SP 5 * SP 1.25 * SP
For other PPTs:
Minimum Maximum
Age<45 years Age=>45 years Across all
Higher of: 10 *
7 * AP 20 * AP
AP or ½ * T * AP
Partial Withdrawals Upto 15% of Fund Value can be withdrawn each year, from 6th
year onwards, subject to conditions. 1 free partial withdrawal
in a policy year

21. Additional Features
Dual protection for your family, in case you are not around
• Dual protection for your family, in case you are
Payment of base Sum Assured and
not around
Inbuilt Premium Payor Waiver benefit to ensure continuance of your benefits
Accident Benefit which includes Accidental Death benefit and Accidental Total and
Permanent Disability (Accidental TPD) benefit, is an integral part of the plan
Enhanced investment opportunity through 9 varied fund options including P/E
Managed Fund, Index Fund & Top 300 Fund
Liquidity through partial withdrawal(s).
Free allocation of units by way of regular Loyalty Additions, giving periodic boosts to
your investments.
Twin benefits of market linked return & insurance benefit

22. SBI Life - Scholar II
( A traditional participating plan)
Term
Premium Payment Term ( PPT) 18 - Childs Age at entry
Policy Term 21 - Childs Age at entry ( You are covered till the
child attains 21 years of age)
Premium
Premium Mode Monthly / Quarterly / Half Yearly / Yearly ( Single
Premium also available)
Age ( As on Last Birthday)
Entry Age ( Life Assured ) Minimum: 18 years ; Maximum: 60 years
Entry Age ( Child) Minimum: 0 years ; Maximum:15 years
Maximum Age at Maturity (Life Assured) 70 years
Sum Assured
Minimum Sum Assured Rs 50,000/-
Maximum Sum Assured Rs 1 Crore
Riders Available
SBI Life - Dhanavantri Supreme - Individual Critical Illness (CI Rider) (UIN : 111C004V02)
SBI Life - Accidental Death and Permanent Disability (AD & PD ) Rider (UIN: 111C001V01)
SBI Life - Premium Waiver Benefit (PWB) Rider ( Individuals) ( UIN : 111B005V01)

23. Additional benefits
Twin benefit of saving for your child’s education and securing a bright future despite the
uncertainties of life.
Full risk cover throughout the policy term irrespective of payment of survival benefits
installments.
Option to receive the installments in lump sum at the due date of first installment of
Survival benefit
Rebate for Female lives and High Sum Assured