The best safety deposit for your child’s future is here!

Are you looking for the best safety deposit for your child’s future?

Look no further than a child savings plan!

Hema works as a housewife, while her husband works for a private limited corporation. The couple had a baby girl and wanted to ensure she lived. However, they are having difficulty selecting insurance coverage since so many options are available. They decided to conduct some internet research, and after comparing numerous plans on an insurance broker site, they could choose a plan that met their needs.

Purchasing investment plans for child presents various obstacles since it must meet the demands of the parents. It should secure a child’s future from financial difficulties while their parents are away.

However, one must choose the right company while purchasing a child savings plan from the market. Those looking for the best insurance plan for their kid should keep the features, advantages, and limits in mind to make an educated selection.

Best Child Savings Plans in India

1. Canara HSBC Life Insurance – Invest 4G Plan

Canara HSBC Life Insurance Invest 4G is a ULIP plan that offers savings and protection. By selecting these investment plans for child, you can build money for the future and achieve your long-term life objectives. This child savings plan provides seven different funds and four portfolio techniques to invest your money. As a bonus, there are Loyalty Additions and Wealth Boosters to help you save more money.

It allows diverting and switching fund alternatives to capitalise on market movement or decrease risk. Partial withdrawals are offered to assist you in meeting unanticipated costs resulting from any unforeseen incident or meeting the family’s changing demands. You may change your investment from one fund to another at any time.

2. HDFC Life Youngstar Super Premium Plan 

Parents may choose this child savings plan since it includes insurance coverage and investment choices, making it one of the top investment plans for child in India. Furthermore, it is a unit-linked insurance plan that is excellent for many stages of a child’s life, such as schooling, marriage, etc.

The essential advantage of this strategy is that it allows for the customisation of the features. Furthermore, the strategy includes four investment funds, which significantly contribute to boosting revenue. Furthermore, if the parent dies during the term insurance, it pays 100 per cent of future premiums and levies 50 per cent of premiums as yearly income.

3. ICICI Pru Smart Solutions

This unit-linked insurance policy seeks to give a kid complete protection to guarantee a safer future. Parents may invest in insurance based on their child’s evolving requirements. During an unfortunate situation, a kid will get a lump-sum payment under this plan. The insurance has a term of 10 to 25 years, making it a popular option.

4. Bajaj Allianz Young Assure plan

Bajaj Allianz is a prominent insurance company that provides the best child savings plan at reasonable prices. Furthermore, it offers discounts to consumers who purchase a plan with a bigger sum guaranteed amount.

Another characteristic of this insurance is that it provides policy customers with add-ons, demonstrating methods to improve coverage. Aside from that, it enables a person to reach his or her financial objectives in life.

5. Max Life Shiksha Plus Super Plan

Max Life is a well-known insurance business in the industry that offers the best investment plans for child. It provides coverage in addition to a child’s schooling. At the conclusion of the policy term, the insurance provides maturity benefits.

In the event of a financial emergency, parents may take a portion of the funds. Aside from that, it comes with six fund alternatives and adds extra units after the 11th year.

6. LIC’s New Children Money Back Plan

LIC is a public insurance corporation that provides many sorts of coverage for children at the most competitive pricing. The company’s New Children Money Back Plan is the best child savings plan since it covers schooling, weddings, and other expenses.

It also offers the option of taking out a loan in the event of a financial emergency. After a certain age, an insured individual will additionally get a survival benefit.

7. Bharti AXA Life Child Advantage Plan

Bharti AXA is a prominent insurance provider in India that tries to meet the requirements of parents looking to purchase a child savings plan. The company’s life child advantage plan has a built-in waiver premium benefit. Parents may also purchase this coverage with money return and endowment options.

After selecting a policy term, the organization devises viable strategies for purchasing the best investment plans for child in India. Furthermore, it explains how to get a life insurance payout in the event of the untimely death of parents.

8. Kotak Head Start Child Assure Plan

Head Start Child Assure plan by Kotak has seven distinct fund alternatives, allowing a child to secure financial stability throughout their life. Based on the selections, the plan presents an opportunity to generate money for a child’s future. It even provides a maturity advantage to a youngster in achieving his or her objectives.

Birla Sun Life Vision Star Plan

Birla’s Sun Life Vision Star plan is India’s best child savings plan, providing death and maturity payouts. It rewards earned incentives on maturity by meeting specific demands. Additional riders may be added to a policy to provide more comprehensive coverage. After five years of the policy term, the plan offers monthly payouts.

Aegon Life Rising Star Insurance Plan

Aegon Life Rising Star Insurance Plan is one of India’s top children’s insurance plans, featuring four fund alternatives.

After five years, the plan allows for a partial exit. It provides financial stability for a kid’s education by giving triple benefit insurance coverage until the youngster reaches the age of 25. Top-ups allow parents to pay an additional fee.

Wrapping It Up

When parents are not there, they should prepare for their children’s future. These are the top ten investment plans for child for 2022. Before making any investment, carefully review the terms and circumstances of each plan and choose the best child savings plan. Then, establish a prudent investment strategy to guarantee that your kid is adequately protected.

Remember that the ideal investment strategy for your son should provide the highest returns in the form of educational advantages for your kid in the future years. Before investing in a child savings plan, evaluate the features and benefits of several options.