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Safeguard Your Child's Financial Future With A Child life Insurance Plan

By : Bajaj Allianz Life

Parenthood is, without any doubt, one of the surreal experiences that one could ask for. The moment you look at the infant for the very first time, there is a sense of love, warmth, and the urge to plan for the child’s future. Since they take centre stage in your life after their arrival, it only makes sense for you to provide them with everything possible. You can provide them with a secure financial future by buying a child plan.

It is always preferred to plan well in advance. You may consider buying them a plan that will take care of their financial security even when you are not around. This might be a suitable gift you may consider buying for your children.

What is a Child Plan?

Raising a child may sometimes be financially challenging if you do not take the required steps at the right time. For example, the cost of education from a preferred institute may cost you in lakhs in the current scenario.

To make your life a bit easier, you can take the help of a child education plan calculator. The sole purpose of a child education plan calculator is to help you deduce the total expenses of education in the future for your child.

There are several online tools available where you need to enter some basic information, and the tool will provide you with the estimated details regarding corpus needed for the same.

This is where a child's plan can help. Simply put, a child plan is made exclusively for the future of your children so that their future financial needs are well taken care of even in your absence. The plan usually consists of investment and insurance as the two components.

The investment component of a Child Plan invests your money in various instruments, thereby ensuring that your child has a corpus to rely on for higher education or marriage or other expenses. On the other hand, the insurance component helps in the case of the demise of the parents. Children will receive a fixed payment to cope with various expenses.

Some insurance providers offer ULIP-based child plans which provide the feature of premium waiver in the absence of the parent. This feature ensures that the corpus continues to build even after the death of a parent and help to create a secure corpus for a child’s financial future.

How does a child insurance plan benefit your child?

Investing in a child insurance plan offers financial benefits for your children, both in the present and in the future. Some of the major benefits of investing in the plan are as follows.

1. Cover for Education

It is no secret that the rising cost of education is a concern for a lot of parents. Education in schools in Tier 1 or Tier 2 cities might cost you around Rs.1.25 to Rs. 1.75lakhs per year for primary education2. The cost will go up for higher education. Investing in a child insurance plan will help you secure funds for your higher education.

2. Cover For Health

A few child plans offer health coverage as well.. Investing early will ensure that your children have adequate coverage for any medical needs.

3. Cover After Death Of Parent

One of the features of a child plan is the continuation of the benefits in the absence of a parent. Upon the untimely death of the parent(s), the insurance company may waive the future premiums of the policy, depending on the policy terms and conditions. In other words, your children will continue to receive the benefits of the plan.


Life is uncertain. However, careful planning and execution might ensure that some of these occurrences do not impact the financial well-being and future of your children. Investing in a child insurance plan may be one such step. The plan will help you build a corpus for the future while offering some of the other benefits as well as mentioned above.





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The above information is for general understanding and is meant to educate the general public at large. The reader will have to verify the facts, law and content with the prevailing tax statutes and seek appropriate professional advice before acting on the basis of the above information.

The views stated in this article are not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. For more details on risk factors, terms and conditions please read the sales brochure & policy document (available on carefully before concluding a sale.