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Child’s Plan

Childu2019s Plan is designed to financially secure your childu2019s higher education and other future milestones<br><br>https://www.sbilife.co.in/en/individual-life-insurance/child-plans

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Child’s Plan

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  1. Child’s Plan An Overview

  2. What is Child’s Plan? Child’s Plan is designed to financially secure your child’s higher education and other future milestones; even if you are not around to see them. The policies are individual life insurance products. They come with premium waiver benefits and are reliable and flexible for your ease.

  3. What are the Various Child Plans? There are two top child plansavailable in India: • Conventional Plans: Traditional participating plan that secures the educational needs, through guaranteed maturity proceeds. • Unit-Linked Insurance Plans: This offers dual benefits of market-linked returns on the invested money, and security of life cover for your children.

  4. Why Should You Buy a Child Education Plan? • Child insurance plan helps you finance key milestones of your children’s lives; even in your absence. • Comes with accidental, total and permanent disability coverage. • Guaranteed benefits and riders available. • Premiums are waivered in case of eventuality. • Liquidity with partial withdrawals from 6th year of the policy. • Payment frequency is flexible : Single, Yearly, Half Yearly, Quarterly and Monthly.

  5. Benefits of Taking a Child Education Plan • With child education plan, you need not worry about funding higher education abroad for your child. • The child is covered in the event of parent’s death. • Partial withdrawal is permitted 6th year onward. This can help children or parents meet any cash requirements. • Tax benefits under Section 80C and 10(10D) of the IT Act 1961 • Advantage of starting the plan right from the time a child is born. • You can switch between funds in a unit-linked plan as per your child’s changing needs.

  6. How to Use Child Education Planner Child education planner is an important tool to plan your investment. It can help you know approximately how much will be required for fulfilling the future needs of your children. It can also help you figure out the amount to save daily. Just provide details like your name, age and gender, along with those of your child’s. Choose your premium frequency and sum assured. You will be able to see estimated maturity benefit.

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