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The Concept of Child Plan

A child plan is an investment cum insurance plan for children.u00a0<br>https://www.sbilife.co.in/en/individual-life-insurance/traditional/smart-champ-insurance

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The Concept of Child Plan

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  1. The Concept of Child Plan

  2. Child Plan: Understanding the Concept A child plan is an investment cum insurance plan for children. Parents receive a lumpsum amount at maturity to meet education expenses, medical bills and other miscellaneous needs of the child in the future. The best one comes with smart benefits and premium waiver facilities. In short, these are safety nets for children’s goals, ambitions and health.

  3. Why Child Plan? There are many reasons to consider a child policy in India: • A good way to save money for your child’s future. • Protection in case of unforeseen events with partial withdrawals • Provides comfort, safety and security to your child in your absence. • Periodic loyalty additions to boost the sum insured. • Limited or one-time child plan premium for convenience

  4. Points to Consider Before Buying Child Plan An online child plan is an excellent tool to secure a bright future for your child. Keeping certain points in mind can help you make an informed choice. • Claim Settlement Ratio which the company’s efficiency is paying the claims. • The add-on rider benefits that are additional protections and coverages. • Policy terms and conditions to avoid surprises later on. • The associated fees and charges to plan the finances well. • The annual premium range to ensure it fits your budget.

  5. Types of Child Plans Child plans are money-backups that helps create a significant corpus. It can shape the future of your child and nurture them in the best possible manner. Below are two useful plans to consider. • SBI Life Smart Champ Insurance: One time or limited premiums with annual premiums starting from ₹6,000. • SBI Life Smart Scholar: Market Linked Returns with period loyalty additions. You can use a child plan premium calculator to know the payable amount beforehand.

  6. Benefits of Child Plan

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