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Investment Plans For A Girl Child

By : Bajaj Allianz Life

The American poet, E.E. Cummings, wrote about his daughter - ‘You are my sun, my moon, and all of my stars’. While he expresses his love and adoration for his daughter, he is not alone. Daughters hold a special place in parents’ hearts and every parent may want to ensure they save up for their child, to give them wings to fly.

If you are looking for investment plans for your daughter, you may want to consider life insurance plans that offer dual benefits of life cover as well as a savings component. Different plans have different features and benefits. You can check out the available options and then pick an investment plan suitable for your girl child.

Here is a list of the available life insurance plans that can double up as an investment plan for your girl child:


Some of the Investment Plans For Children:



1. Endowment Assurance Plans1:


Endowment assurance plans are savings-oriented life insurance plans that help you to create a corpus for your child. Under these plans, you can save and also enjoy life insurance coverage.

In the case of death during the policy tenure, the endowment plan usually pays a death benefit that can help the child meet his/her financial needs. Alternatively, if the plan matures, you get a maturity benefit which can be again used for your child’s financial needs.


Features of some endowment plans-


  • Some plans are offered as participating plans. These plans earn bonuses, if declared by the insurance company and help in enhancing the corpus.
  • Some endowment plans offer additional benefits in the form of loyalty benefits, etc.


2. Money-Back Plans1:


Money-back plans are like endowment plans, but they offer liquidity in the form of regular money-backs. The money-back benefit is paid at predefined intervals during the policy tenure.

Usually, a part of the sum assured is paid as money-back benefits, and on maturity, the remaining sum assured is paid.


Features of Money Back Plan -


  • Some plans allow you to choose the interval after which the money-back benefit will be paid.
  • You can opt for this plan if you want regular inflows to meet your daughter’s expenses.
  • Some money-back plans allow bonus additions, depending from insurer to insurer.


3. Unit Linked Insurance Plans (ULIPs)1:


ULIPs are insurance-cum-investment plans that allow you to earn market-linked returns, associated with risk. You can choose a fund of your choice. These funds invest in equity and/or debt securities, or combination of both, whose values change depending on market movements.


Features of ULIPs:


  • ULIPs allow you to choose the investment market-linked fund and also change the chosen fund through switching or premium redirection option, which can be availed under ULIP subject to policy terms & conditions.
  • Subject to the terms and conditions of the policy, some ULIPs also allow for additional investments in the form of top-up premiums, over and above the base premium.
  • Partial withdrawals, subject to terms & conditions of the policy, allow liquidity, ensuring you have funds for use when needed or in times of financial crisis.
  • There’s a lock-in period of five years, which refers to the time period during which you are unable to withdraw your investment.
  • ULIPs are exposed to market risks and do not have fixed returns as it depends on the performance of the market.


How To Get An Investment Plan For Your Girl Child?


Now that you know the different types of investment plans for a child offered by life insurers, the next question is how to choose the suitable plan.

To do so, here are some tips that you can follow -


1. Choose a Suitable Plan:


Compare the different types of life insurance plans based on your goals, risk appetite, needs and investment horizon. Then, choose a suitable policy.

For instance, if you are risk-averse, you can pick endowment or money-back plans. On the other hand, if you want to avail yourself of market-linked returns, ULIPs could be a suitable choice. You can also opt for a child insurance plan to create an exclusive corpus for your daughter.


2. Opt for A Suitable Tenure:


The tenure of the policy should align with your daughter’s financial needs. If you are building up a corpus for your child’s higher education, career or marriage, ensure that it is available when needed.

For instance, if your daughter is 5 years old and you want a corpus for her higher education when she attains 15 years of age, you may choose a term of 10 years. On the other hand, if you need funds for her marriage, you may opt for a longer tenure. So, assess your needs and then choose the policy tenure.


3. Choose an Optimal Coverage:


The sum assured of the policy should ideally be sufficient to meet your daughter’s needs, including the cost of higher education or marriage. So, you could choose a suitable sum assured that will give your child the corpus that she needs.


4. Opt for Suitable Riders:


Riders are additional coverage, in addition to your base policy, that enhance the scope of the policy. These can be opted on payment of additional nominal premium. So, choose suitable riders to make your plan more comprehensive.




Start early so you can save up for a longer tenure and build up a sizeable corpus for your girl child. Plan for your daughter’s future financial needs so that her dreams are fulfilled. After all, as parents, that’s what you want, don't you?





1. How to choose an investment plan for a girl child in India?


There’s no universal answer. Different parents have different needs and want different plans. To find the plan that suits your needs, you need to assess your financial requirements, risk appetite, the corpus needed, and the investment horizon and then make your choice.


2. How to invest a small amount of money monthly for your girl child?


Life insurance plans allow the monthly premium payment mode. You can opt for this mode and save a small amount monthly, to create a suitable corpus for your daughter.


3. Which riders are available with a child plan?


The choice of riders depends on the insurance company and the plan that you buy. However, some of the common riders available at nominal extra cost are as follows1:

a. Accidental Death Benefit Rider- This rider pays an additional sum assured in the case of accidental death during the policy term.

b. Accidental Permanent Total/ Partial Disability Benefit Rider- This rider covers disablements suffered in an accident and pays a benefit for the same.

c. Critical Illness Benefit Rider- The rider covers a list of critical illnesses. If the insured suffers from any covered illness, the rider sum assured is paid in a lump sum.

d. Waiver of Premium Benefit- This rider waives the premium if the policyholder or life insured dies during the policy tenure, but the policy continues. Usually, some child insurance plans offer this rider by default or as an additional feature, depending on the insurer.



Endowment Assurance: Page 146

Money-back: Page 147

ULIP: Page 163

Riders: Page 139


#Survey conducted by brand equity – Nielsen in March 2020

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*Conditions Apply – The guaranteed benefits are dependent on the purchase price & annuity option chosen. For more details please refer to sales brochure.

**Past performance is not indicative of future performance.

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 is 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 sales brochure & policy document (available on carefully before concluding a sale.