How to Find Child Plan That Suits ME + Best Child Insurance Plans List in India

How to Find a Child Insurance Plan That Suits ME

As a new parent, finding good Child Insurance plans can be confusing. When you are looking for your first life insurance plan, the vast number of options in the market can make the whole process pretty intimidating. Add to that, many parents may not even think of buying child insurance till very late, as late as middle school. And that’s honestly a tad bit late though it is still a good idea to explore your options.

Why is a child plan important for you and your child? You could read all about it on How much should I invest in a Child Insurance Plan? What age to Buy?

So, how to find the best Child Insurance plans in India that suits you?

It’s not actually that difficult, trust me. Technical terms aside, buying Child Insurance is pretty easy, affordable and can really be done online. Here is how you can go about selecting the plan that suits you best by reading the next 4 sections.

How to find best insurance plans for child?

  • Get the quotes online from any top 3 insurers in India
  • Selects all the riders next that you feel are necessary
  • Go ahead with one that fulfils all your rider requirements and at the same time fits in you budget.

How to select the best insurance service provider for Child Plan?

Check the claim settlement ration (CSR) of the insurance provider. A higher % is preferable   as there is a better change of your claim and settlement being processed smoothly.

What to remember while buying a Child Insurance Plan?

Apart from the premium and sum assured, make sure that the tenure chosen is right. Say, When I buy the plan at the time of birth, a tenure of 20 years is right as my child will receive the amount at the time of university admission. However, if I am starting when my child is 5 years already then, a tenure of 15 years would work better.

The Don’ts to keep in mind before buying a Child Insurance

  • Avoid investing almost all money with you into various loan and insurance premiums.
  • Never make an investment decision based on unsolicited and unreliable information.
  • Check the history and proven track record of the insurance provider in claim settlement, avoid making investment based on only on promise of lucrative returns

Also read My Kadam Chhota, Change Bada MomentIs there any point in buying so many toys, one after the other?  and Kids Shows on Netflix That Are Actually Awesome

Best Child Insurance Plans in India

Best Child Education Plans in India in 2020
  • ICICI Prudential Smart Kid Solution Plan
  • HDFC Life Young Star Udaan Plan
  • LIC Jeevan Ankur Plan
  • Birla Sun Life Insurance Vision Star Plan
  • Reliance Nippon Life Child Plan
  • Birla Sun Life Insurance Vision Star Plan
  • Aviva Young Scholar Advantage Plan
  • Bajaj Allianz Young Assure Plan
  • SBI Life Smart Champ Insurance Plan

What are the features of a Child Insurance Plans in India?

I feel child Insurance plans go beyond just funding the child’s education or marriage. Here is how.

Sum assured

Incase of sad demise of the parent during the term of the policy, the sum assured, which about 10x, is still paid to the child once she turns 18.

Partial withdrawal

This is especially relevant when you buy a plan later, say about middle school years. You can opt for this feature which allows you to withdraw part of the sum assured once child turns 18, hence helping with undergrad university expenses.

Premium waiver

Child plans are usually designed for premium waiver, in unfortunate case of demise of the parent.

Fund options

Child Insurance plans offer a variety of investment options from equity, to debt and hybrid.

Why buy Child Insurance?

That’s a very important question. If you see yourself nodding in agreement to the points listed below, then it’s a good idea to invest in a child insurance plan

  • Build a kitty dedicated for child’s future, with minimal extra financial burden
  • Be prepared for medical emergency
  • Plan for the parent’s absence

Do you find buying insurance an important decision? Or do you have a handy tip to share when it comes to buying best insurance plans for child in India? I would love to hear your thoughts in the comments below.

PS: Author has worked in the insurance industry before taking a deep dive into the world of blogging.


Pin it for later!

You may also like to read ‘SuperHero U’ Competition by GlobalShala,| Prizes worth $90,000, Scholarship Opportunity,

Factors to consider when buying Child Insurance Plan in India

“I’m taking my blog to the next level with Blogchatter’s My Friend Alexa”

View this post on Instagram

*21 places to go in 2020-21⛵ + GIVEAWAY🎁 | Lofotan Islands, Norway* 16/2020-21 : Lofotan Island , Norway | hottest emerging destination – (Swipe right to see the BEST pics from the series👉) . Continued from previous post… . 🏖 A holiday in Norway is perfect for 🛵 Hiking and cycling 🚞Taking the most scenic train journey in the world, we were lucky to book into the family coach which also had a fully equipped PLAYAREA for children ! ❄If you fancy exploring Stave churches and Olaf ⛴Going on a cruise holiday 🚡Skiing trip ☃️Winter wonderland . . Norway is NOT the right place if 🛵 You are looking for global hotel chains, there are just a handful ⛈ If you cant handle sudden rain showers 👨‍🍳At most family run accommodations, which by the way was absolutely stunning, we were expected to clear our own plates and organize the chalet before checking out. . . Trivia: Here in Norway, we often found 1 single person, often also the owner, managing the check-in desk, filling up the buffet tables, laying the linen and setting the tables ! One man army & very very efficient! . Stay : Mosly boutique hotels & homestay Useful handles:@visitnorway #dreamnowvisitlater . . *GIVEAWAY 🎁 1st Winner announced* Comment, tag friends & share each post in this series on your story to WIN big🛶 FINAL winner gets a hamper on my 21st post . . #virtualtravel #travelfromhome #anUrbanNomadic #travelblogger #mumbaiblogger #cntravellerindia #beautifuldestinations #worldtravelpics #traveler #traveldames #cntgiveitashot #shuttersofindia #travelstroke #gramslayers #_desi_wanderer  outlooktraveller @visitnorway #dreamnowvisitlater #indianblogger #traveltheworld #wanderlust #lifestyleblogger  #lifestyleblogger #europetravel #CNTGiveItaShot #livetravelchannel #speechlessplaces @lonelyplanetmagazineindia @cntravellerindia  #roamtheplanet #awesomepix #sheisnotlost #imtb #virtualtrip #girlsaroundworld

A post shared by Mandavi Jaiswal (@anurbannomadic) on

Be a part of our community! Follow us on InstagramTwitterFacebook and YouTube


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.