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First documentCan a Child Insurance Plan Ensure Your Child’s Future Financially?Open original ↗
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Second documentBuy Child Education and Insurance Plans Online in india 2026Open original ↗
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First paragraph107 words
Types of Child Insurance Plans
Moneyback Child Plans: If you wish to receive certain amounts at various stages of your child’s growth, the money-back child education plan is the best option. It offers fixed instalments of your sum assured at regular intervals as selected by you in the form of cashbacks. Such child insurance plans are also suitable if you need a certain amount over multiple years of your child’s education. For example, a 5-year integrated MBA program involves payment of an annual examination fee. Apart from that, money-back child plans are participating plans, i.e., they offer bonuses to you that add to your maturity amount.
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Second paragraph88 words
Types of Child Education Plans
Child Money-back Plans: Child money-back plans offer a long-term, safe investment option for your child’s future. These plans are ideal for long-term financial goals, such as funding a four-year undergraduate degree. Child Money-back plans also offer bonuses to aid the growth of your investment. These bonuses add to your plan’s maturity value. These are some of the best child plans, as you enjoy the benefit of a life cover while getting a portion of the sum assured at regular intervals.
First paragraph204 words
How Does a Child Insurance Plan Ensure Your Child’s Future?
Bonus Additions: Child insurance plans often reward long-term commitment through various forms of bonus additions. These benefits differ based on the type of plan: Participating endowment and money-back plans offer annual bonuses such as reversionary bonuses and terminal bonuses, which are declared based on the insurer’s performance. While endowment plans accumulate these bonuses throughout the policy term, money-back plans may offer bonuses along with periodic payouts, though these are typically not guaranteed. Unit-linked insurance Plans (ULIPs) do not provide traditional bonuses. Instead, they may offer loyalty additions and wealth boosters, which are additional units added to your fund value at regular intervals, provided certain conditions like continued premium payment and policy duration are met. All accrued bonuses in traditional plans are paid out at the time of maturity, along with the maturity amount. In ULIPs, loyalty additions and wealth boosters enhance the fund value and are also payable at maturity. These maturity proceeds are generally tax-exempt under Sections 80C and 10(10D) of the Income Tax Act. However, for ULIPs purchased on or after 1 February 2021, if the aggregate annual premium exceeds ₹2.5 lakh, the maturity amount becomes taxable (except in the case of death benefits).
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Second paragraph50 words
Features of Child Insurance Plans
Bonus Additions: Participating child plans and Unit-Linked Plans offer rewards for staying invested for the long term. While ULIP will add units as loyalty additions and wealth boosters, endowment and money-back child plans accrue annual bonuses. These bonuses are payable with the maturity value of the child's policy.