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Top Child Insurance Plan in 2021

A child's life insurance plan, also known as a Child Plan, is a hybrid of insurance and investment that can help fulfill your children's financial needs. It not only pays out significant rewards but also allows policyholders to withdraw funds from their savings account as required. A Child Plan is a fantastic insurance choice for assisting your child with all of life's milestones. With a Child Plan, you may not only save a monthly amount but also build your money. You can access your funds at the same time.

The Top Five Child Insurance Plans To Buy 

Some of the top Child insurance policies on the market are as follows:

1. HDFC Life YoungStar Super Premium Plan

There are two sorts of death benefits offered by HDFC. Only half of the premium will be paid if the parent dies during the period. You can choose from four different investment funds. Unit-related package with two options for death benefits If a parent dies during the term and the parent chooses the 'Save-n-Gain' payment option, half of the premiums are charged as yearly income. There are four different investment funds from which to pick. Severe sickness coverage is available as an option.

2. Bharti Axa Life Child Advantage Plan 

This is a non-linked participating life insurance plan that gives you the option of choosing between a cash payout or an endowment. A built-in premium waiver benefit is included in the plan. Let's have a look at the benefits and features of the coverage. The policy's minimum admission age is 18 years old, while the maximum entry age is 55 years old. The insurance has a 76-year maximum maturity age. Several policy tenures are available under the policy. Depending on the age of the child, the policyholder can choose a policy period from 11 to 21 years.

3. ICICI Pru Smart Child Assure Plan

This is a Unit Linked Insurance Plan that assists in the building of a financial corpus for the children's future while also providing insurance coverage. The following are the policy's features and benefits. Regular pay and single pay are the two premium payment options offered by the plan. The maximum maturity age for the insurance is 64 years. The plan offers a variety of investment fund options. Ten to twenty-five years is the policy tenure.

4. LIC New Children's Money-Back Plan 

This plan covers children between the ages of 0 and 12. A minimum of Rs. 1 lakh in Guaranteed Sum Assured. Bonuses will be added during the time. When the child reaches the ages of 18, 20, or 22, just 20% of the fee will be charged to the cover.

5. Bajaj Allianz Young Assure Plan

Bajaj Allianz promises incentives and improvements upon maturity. This plan also includes compensation for complete and partial disability. Up to 5 more riders can be added to the current plan. The maturity profit might be paid out in three installments.


As a parent, you would never put your children's future, particularly their education, in jeopardy. Investing in a child plan, on the other hand, helps you to plan ahead and guarantee that your child is healthy at all times. Market-linked and conventional plans, as well as basic and lump-sum plans, are among the several types of child plans available. After weighing the various premiums and incentives, choose the one that best suits your requirements.

Also read - Mistakes to Avoid While Investing for Your Child's Future

Pros And Cons Of Child Life Insurance Policy

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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