I am looking to insure my infant son, but don’t know whether I should go in for child educational insurance?

or a regular child insurance plan. Any suggestions?

I am looking to insure my infant son, but don’t know whether I should go in for child educational insurance?
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8 Replies to “I am looking to insure my infant son, but don’t know whether I should go in for child educational insurance?”

  1. Hey that great to hear that you planned well in advance for your child’s education. There are many child education plan in India. However i think your bet should be Aviva Young Scholar Plan as it is enhanced by bonus units every 5 years to build the desired corpus of funds on maturity of the policy.
    Also i think that in case of Aviva all future premiums are waived off and the policy also continues even in the case parent’s death, disability or if there is any illness too…while the Sum Assured is paid out immediately.
    My Uncle had taken the plan for his young son and i he seems quite satisfied.
    I hope I have answered your query 🙂

  2. there is no company that insures a child, except for medical policies.
    the child education plan is taken to secure a child future in terms od education/ marriage….and the plan is taken on the parent of the child.

  3. Anything at this stage will be fair enough. Any policy (for your child or even for you) will give you returns after 15-20 years, when you actually need the money for your child’s higher education. But the returns are not fixed in any kind of policy, whether market linked or non-market linked. As per me, better option will be to open a PPF account for your child and deposit some amount monthly. You can invest variable amount every month. After 15 years, you get good returns, which you can use for your child education or invest further for 4-5 years.

  4. Tata AIG Life Starkid

    Do you want your child to get the best? A professional education could cost around Rs. 10 lakhs. Marriage expenses could also cost another Rs. 12 lakhs. Have you saved enough to cover these costs?

    Star Kid is an exceptional Child Endowment Policy that will ensure that you can afford to give your child everything he needs.

    Key features include:

    1. Your child will receive cash benefits to the equivalent of 20% of the sum assured at the age of 18, 19, 20, 21 & 22.

    2 Flexible and affordable premiums, which can be paid annually, semi-annually, quarterly, or even monthly.

    3. No medical examination of your child is needed.

    4. Free Look Period – A money-back guarantee, which allows you to return the policy within 15 days of receipt for a full refund (minus nominal administrative charges).

    Tax Benefits, Riders and Age Eligibility

    1. Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.

    2. Inbuilt Payor Benefit rider: In the event of Payor’s death or disability the policy pays out following benefits:

    [a] During the premium paying period: All future premiums are waived

    [b] After the premium paying period: 50% of Sum Assured is paid to
    the nominee of the policy.

  5. My dear friend,

    Do not fall for the names. There are many smart and nice sounding names. They do not guarantee any returns.

    In my opinion the phrase ‘insuring the child’ itself is absurd. It should be insuring for the child.

    The child is dependent upon you and as such you need to insure yourself adequately to protect the child’s future. In case of any mishappening to you, the child’s future needs would be taken care of by the insurance you take. Not the other way around.

    Take a Term Insurance (it is very cheap) and invest the rest of the amount in some good Equity Mutual Funds through Systematic Investment Plans(SIP). This may fetch you good returns in a longer time.

    Have a nice day!

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