Buying the best child insurance plan online is the most reliable way to plan for child’s education. There are different online sources available that suggest customers about various investments for planning child education and also give tax benefits. In India, a wide range of child insurance plans are offered by several insurers. Divide these plans into following categories to avoid any kind of confusion:
- Child is covered
Plans which come under this category are specially designed to cover a child.
- Similar to a Normal Plan
There are some plans which insurers have called them as child insurance are completely distinguishably from any other plan they serve.
- Parents is Covered
Term insurance policies pay up on the demise of a parent. But, it may pay the whole amount at the time of parent’s demise or wait till the child turns major and then pay the insurance amount.
- Mediclaim Policy for a Child Insurance
Some child best insurance plans offer mediclaim coverage for children. But, some parents completely forget about health insurance needs for children. This coverage can be helpful at times.
- Money Back Plans
These are common types of child insurance education policies where policyholders pay premiums for a number of years and at maturity, the insurance company in India pays insured people back. Insurance experts suggest customers to get this insurance money when the child is 18 years or other such milestones.
Make a list of all desired child insurance products and then consider their descriptions by searching about these policies online as well as by reading online reviews posted by professionals or customers. Ask your financial planner to plan investments for child education goal.
There are several companies in India that has various child best insurance plans:
- HDFC Life
- Life Insurance Corporation of India
- Birla Sun Life Insurance Plan
- Kotak Life Insurance
- SBI Life Insurance
- ICICI Prudential Life Insurance
- PNB Metlife Insurance