Children’s Plans at HDFC Standard life Insurance

As your children are your pride and joy and you would like them to have the best that money can buy. And with a sound financial plan, you can make sure that the materializing of their dreams is not hindered for want of funds. Children’s insurance policies and products are designed with this specific aim in mind.

Such plans set out to secure you financially against the back drop of constraints such as inflation and the rising cost of education. They help you to fund various aspirations like an overseas education, extra curricular activities, sports training, supplementary vocational education, marriage celebrations, etc. by providing a lump sum amount at a specified future date.

An extra feature offered by children’s plans is that they continue to offer financial protection even in the event of the loss of the premium paying parent. This ensures that the amount envisaged is actually delivered even in the event of unforeseen eventualities.

Benefits:

This plans enable the parents to save money for child’s future without any disturbance to the family budget. This is because the premiums can be chosen to suit the parent’s convenience.

There many numbers of options and customized products to choose from for the child’s future.

The Reversionary bonuses are usually declared by the insurance company annually and once declared are guaranteed.

The Tax benefits under Section 80C are applicable on the premium paid.

Certain plans options also allow the plan to continue after demise of insured parent and the insurance company continues paying the premium.

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