RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

Secure Your Child's Future With Child Insurance

down-arrow
Secure Your Child's Future With Child Insurance
December 12, 2018
For all the parents, the child's dreams and her/his future mean everything. Every parent strives to give the best to her/his child and all their financial activities are directed towards ensuring that sufficient financial reserves are built up so that the child can receive a quality education and a top career in life. As part of this financial activity, having the right kind of an life insurance plan in place for securing the financial strength for your doting child is very essential. Such plans, referred to as "child insurance plans" are instruments for both insurance coverage as well as "investment". These plans offer extensive benefits and are best suited for assuring that sufficient corpus is secured so that the educational requirements of your child are met without any hassles.

It is very well known that the costs of education, especially of higher education in India are on a rise. The factor of inflation plays a huge role here and after some years, the costs may further add to your financial burden if due planning is not done. If your child decides to opt for an education abroad, the added costs will be immense and will have a direct impact on your financial resources. In addition to the curricular costs, there are additional costs involved and a mere savings-plan does not suffice. Moreover, tomorrow your child may decide to pursue a hobby or any sports activity and may require extra support mechanism for it. This obviously requires extra expenditure and you must be in a position to cover the expenses. As a parent, you would never like any financial woes to hamper your child's dreams. Moreover, in the highly competitive world of today, financial edge means everything. Therefore, having the right kind of an insurance plan for your child becomes very important.

Insurance companies today offer diverse options from which you can choose as per your requirements. Generally speaking, a child's plan comes with death benefit as well as maturity benefits. The plan entitles the subscriber's nominee (in this case, he subscriber's child) to corpus proceeds (sum assured) and waiver/coverage of remaining premiums, in the event of the subscriber's demise. If the subscriber survives the policy term, the maturity proceeds are payable to her/him by the insurer. Furthermore, the payable premiums enjoy tax exemption under the sections of Income Tax Act. Therefore, a child plan is wholly beneficial and offers guaranteed coverage together with options to secure investments to meet any extra costs that may be required to fulfill your child's educational needs.

Generally, the child plans come with flexible terms and conditions, especially regarding payout options and investment plans. The general entry age is 18-21 years, and some plans also offer multiple modes of paying the premium for the subscriber's convenience. The payouts are guaranteed, offering total coverage of the financial reserves required for the child's education. The best one time investment for a child can be determined by listing your specific requirements and comparing plans online before choosing.

HDFC Life offers HDFC Life YoungStar Udaan - a comprehensive plan for covering your child's educational expenses and for securing a bright future for your child. For details, click on the mentioned link: https://www.hdfclife.com/children-insurance-plans/youngstar-udaan. 


Related Article :

Show Full Article
Hide Full Article

Term Plan Articles Term Plan Articles

Investment Articles Investment Articles

Savings Articles Savings Articles

Life Insurance Articles Life Insurance Articles

Tax Articles Tax Articles

Retirement Articles Retirement Articles

ULIP Articles ULIP Articles

Health Plans Articles Health Plans Articles

Child Plans Articles Child Plans Articles

Popular Calculators Popular Calculators

Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

LinkedIn profile
Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

LinkedIn profile
Reviewed By Reviewed By:

Here's all you should know about life insurance.

We help you to make informed insurance decisions for a lifetime.

Building a Financial Safety Net for Your Child, this Children’s Day.

Building a Financial Safety Net for Your Child, this Children’s Day.

Discover essential financial strategies for building a financial safety net for your child this Children’s Day. Secure their future with smart investments planning.

How to use an online savings plan to secure your child's education fund?

5 Tips for Building Your Childs Overseas Education Corpus

How to use glide path investing in planning for your child’s education

Plan smartly for your child's education with glide path investing. Navigate financial growth with precision and secure their academic future.

How to use glide path investing in planning for your child’s education
Child's Education - Tips to Choose the Right Child Plan Previous
The Ideal Child Education Plan and Insurance Next
HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Popular Search

Popular Searches