Find your suitable insurance plan
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6 min read
Updated on Mar 01, 2023
Raising a child is not easy at all, especially when inflation is on the rise. This is why you need to start investing as soon as you become a parent. Wondering what plans you can invest your money into? The most sought-after option these days is a one time investment plan for child. Wait! Before you go ahead with the one time investment plan for child, you must however first try to understand what it is. Well, in that case, keep reading to know!
As the name suggests, a one-time investment plan for the child means you pay a lump sum amount one-time through a policy term. Along with the life cover, the money keeps growing. As the child grows, the investment plan will keep supporting the child in each of his or her milestones in life.
There are many one time investment plan for child in India and all of them come with benefits. Before we discuss the advantages of one time investment plan for child, let us discuss their significance.
Education is one of the most important things that we can give to our children. And when we are planning a bright future for our child, we need to think about what may happen after 12 years. This is when a one-time child plan helps. Even if the fees charged by educational institutions get higher by then due to inflation, it will not impact your child’s education. The return you get will cover it all.
Also Know: 10 Best Child Insurance Plans in India
During the important stages of your child’s life, you can make partial withdrawals. This way you can be prepared for your child, whether it is their education or marriage.
The one time investment plan for child work like a life cover as well. Even in an unfortunate event, you will have the assurance that your child is protected financially.
As the advantages of a one time investment plan for child are concerned, here are some of them mentioned below:
| Name of the plan | Entry age | Maturity age | Sum assured |
| Tata AIA Life Insurance Super Achiever | 25-50 years | 70 years | 10XAP |
| SBI Life – Smart Scholar | 18-57 years | 65 years | Limited Premium- 10 x AP Single-Premium- 1.25x Premium |
| Reliance Child Plan | 21-55 years | 65 years | INR 50,000 |
| SUD Life Aashirwaad | 18-50 years | 70 years | INR 4,00,000 |
| Shriram Life New Shri Vidya | 18-50 years | 70 years | INR 1,00,000 |
| Sahara Ankur Child Plan | 0-13 years | 40 years | For 10 years and below- INR 15 lakh For 11 years and above – INR 24.75 lakh |
| Aditya Birla Sun Life Child’s Future Assured Plan | 18-65 years | 75 years | Minimum- INR 4,00,000 |
| Aviva Young Scholar Secure | 21-50 years (Parent) 0-12 Years (Child) |
71 years | Death Benefit: Higher of (10 X Annualised Premium) or (105% of paid premiums) |
| Aegon Life Rising Star Insurance Plan | 18-48 years (Parent) 1 day-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 |
| Bharti AXA Life Child Advantage Plan | Regular: 18-50 years Limited:18-55 years |
Regular – 71 years Limited – 76 years |
Minimum – INR 25,000 |
| Canara HSBC Future Smart Plan | 18-60 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 |
| Aegon Life Rising Star Insurance Plan | 18-48 years (Parent) 1 day-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 |
| 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 |
| Future Generali Assured Education Plan | 21-50 years (Parents) 0-10 years (Child) |
67 years | NA |
| Exide Life New Creating Life Insurance Plan | 18-45 years | 60 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 |
| IndiaFirst Life Little Champ Plan | 21-45 years | For 7-12 years: 65 years For 13-14 years: 70 years | Minimum – INR 1,50,000 |
| IDBI Federal Life Insurance Dream Builder Plan | 21-50 years | 72 years | INR 2,15,000 |
| ICICI Prudential SmartKid Solution | 20-54 years | 64 years | 7x AP |
| Kotak Headstart Child Assure | 18-60 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 | 0-12 years | 25 years | Minimum – INR 1,00,000 |
| Max Life Future Genius Education Plan | 21-45 years | 66 years | For 8 pay Variant- INR 3,27,000 (min.) For Limited Pay Variant- INR 2, 12,000 (min.) |
| Pramerica Life Rakshak Gold | 18-60 years | 65 years | INR 75,000 |
| PNB MetLife Smart Platinum | 7-70 years | NA | NA |
Here are some of the important considerations to be made while you are purchasing a one time investment plan for child.
Read More: What is a Child Insurance Plan and How do Child Plans Work?
To sum it up
A one time investment plan for child can be very helpful for your child. You can rest assured that your child will not have to worry about finances even if you are not around.
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Best investment plans that you can buy for your children can be Canara HSBC Future Smart Plan, Edelweiss Tokyo Life Wealth Secure+ Future Generali Assured Education Plan, etc. Some of the best one–time investment schemes in India are Tata AIA Life Insurance Super Achiever, Sahara Ankur Child Plan, Bharti AXA Life Child Advantage Plan, Aegon Life Rising Star Insurance Plan, etc. Yes, there are several one-time investment plans for a child in Post Office such as National Saving Certificate (NSC), Kisan Vikas Patra (KVP), Public Provident Fund (PPF), and Post Office Recurring Deposit Scheme (RD). For the girl child, the top schemes are Sukanya Samridhi Yojana, Post Office Time Deposit Account, and Post Office Savings Account. For a boy child in India, you can buy investment schemes such as National Savings Certificate (NSC), Kisan Vikas Patra (KVP), Post Office Monthly Income Scheme (POMIS), and Public Provident Fund (PPF).
Which investment plan is the best for children?
Which is the best scheme for a one-time investment?
Is there a one-time investment plan for a child in the post office?
What are the investment schemes for a girl child in India?
What are the best investment schemes for a boy child in India?
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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