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Secure Your Child’s Education and Future Milestones

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

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Second paragraph125 words

Secure Your Child’s Education and Future Milestones

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

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Don't Just Survive, Thrive

3 Plan options Life cover + Guaranteed income Get Total Premiums at maturity Early income from 2nd policy year

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Don't Just Survive, Thrive

3 Plan options Life cover + Guaranteed income Get Total Premiums at maturity Early income from 2nd policy year

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Save, Dream, Plan. Live Peacefully

5 Plan options Option to choose PPT Get Tax benefits

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Save, Dream, Plan. Live Peacefully

5 Plan options Option to choose PPT Get Tax benefits

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Popular Searches

Child Education Child Insurance Plan Children Money Back Policy Insurance Policy For Newborn Child Protection Rider How Child Insurance Works? Sukanya Samriddhi Yojana Child Insurance Calculator

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Popular Searches

Child Education Child Insurance Plan Children Money Back Policy Insurance Policy For Newborn Child Protection Rider How Child Insurance Works? Sukanya Samriddhi Yojana Child Insurance Calculator

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Popular Searches

Buy Best Child insurance Plan Best Investment Plan for Girl Child Child Education Insurance Plan Best Fixed Deposit for Child Types of Child Insurance Child Education Insurance

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Popular Searches

Buy Best Child insurance Plan Best Investment Plan for Girl Child Child Education Insurance Plan Best Fixed Deposit for Child Types of Child Insurance Child Education Insurance

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Fixed Returns, Zero Risks & Worries

4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover

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Fixed Returns, Zero Risks & Worries

4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover

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Child Insurance - Top Selling Plans

We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.

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Child Insurance - Top Selling Plans

We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.

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Build for the Future Education:

From the age of 18 years, s/he can receive annual pay-outs that can help finance undergraduate education. Moreover, on maturity, you will receive the guaranteed sum assured along with accrued bonuses, if any. This can be utilized for post-graduate studies or marriage.

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1. Create a Fund for your Child’s Future

Moreover, on maturity, you will receive the guaranteed sum assured along with accrued bonuses, if any. This can be utilized for post-graduate studies or marriage.

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Build for the Future Education:

Both policies offer limited premium payment term. So, you don’t have to keep investing throughout the policy tenure. For example, if your child is 5 years old and you buy a child plan for 15 years, you can opt to pay premiums for, say, 10 policy years, i.e., until your child attains 15 years of age.

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1. Create a Fund for your Child’s Future

For example, in the Promise4Growth Plus Plan offered by Canara HSBC Life Insurance, if your child is 5 years old, you can opt to pay premiums for, say, 10 policy years, i.e., until your child attains 15 years of age. From the age of 18 years onwards, you can opt to receive annual pay-outs that can help finance his/her education.

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Loans and Collateral for Loan:

Higher education is costly and more so if your child aspires to study in western Universities. Despite generous scholarships offered to meritorious students, there is bound to be a shortfall in funds that have to be self-financed. Banks and Non-Banking Financial Companies (NBFCs) offer education loans only if there is strong collateral along with a co-signor. Insurance policies are the best form of investments that not only give milestone-based pay-outs but also stand as credible collateral to avail loans.

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4 Things to Consider While Buying a Child Insurance Plan

Collateral for Loans: Higher education is costly and more so if your child aspires to study in global private Universities. Despite generous scholarships offered to meritorious students, there is bound to be a shortfall in funds that have to be self-financed. Banks and Non-Banking Financial Companies ( NBFCs ) offer education loans only if there is collateral. Insurance policies can be placed as collateral for such loans.

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Tax Benefits:

Premiums you pay into the child insurance plans, up to Rs. 1.5 lakhs are eligible for deduction under section 80C of the Indian Income Tax Act. Also, the maturity value and any partial withdrawals you make after the lock-in period is tax-free.

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3 Tips to Buy the Best Child Plan

Tax Benefits: Most child plans allow tax savings immediately on investment of up to Rs. 1.5 lakhs in a financial year under section 80C . The withdrawals and maturity proceeds from these policies are also tax-free. However, you should check while investing if that will be the case with the child plan you have selected.