A child plan builds a corpus timed to your child’s education milestones. The critical feature is the waiver of premium: if the parent dies, the insurer continues paying the premiums and the plan still matures on schedule.
That single clause is what separates a child plan from an ordinary savings product.
Who needs this cover
Parents of young children
Families planning for higher education abroad
Single-income households
Key benefits
Payouts timed to education milestones
Waiver of premium on the parent's death
Life cover for the parent throughout
Disciplined, goal-linked saving
What is typically covered
Maturity or staggered payouts at the chosen ages
Death benefit to the family
Continued policy funding by the insurer after a claim
Eligibility
Parent entry ages typically 18 to 55 years
Child age at entry determines the available terms
Key exclusions and limitations
Suicide clause in the first policy year
Early surrender materially reduces the corpus
Exclusions differ between insurers and product variants. Always read the policy wording for the exact list.
Claim information
On the parent's death, the family receives the death benefit and the policy continues without further premiums. We help the family establish the claim and confirm the waiver has been applied.
Information on this website is educational and advisory in nature. Insurance products, benefits, exclusions, waiting periods and claim outcomes are subject to the terms and conditions of the respective insurer's policy document and applicable IRDAI regulations. Please read the policy wording carefully before concluding a sale.
Frequently asked questions
Because your income supports people who would still have expenses if it stopped. Life insurance replaces that income so your family can maintain their standard of living, meet loan repayments and keep long-term goals such as education on track. If nobody depends on your income, you may not need it — that is a legitimate answer, and we will tell you so.
A common starting point is ten to fifteen times your annual income, then adjusted for outstanding loans, the number of years your dependants would need support, children’s education costs and any existing cover. A Financial Need Analysis works this out properly for your situation rather than applying a rule of thumb.
Yes. You can hold multiple life and health policies with different insurers. For life insurance, all policies pay independently. For health insurance, claims are settled between the insurers up to actual expenses. You must disclose existing cover when applying for new cover.
Yes — claim assistance is part of the relationship, not an extra service. We help with intimation, documentation, coordination with the insurer or TPA, and follow-up until settlement is tracked to a close. The final claim decision rests with the insurer and is governed by the policy wording and applicable regulations.
Age, sum insured, policy term, health and medical history, lifestyle factors such as smoking, occupation, and the riders you select. For motor insurance, the vehicle’s value, age, engine capacity and location apply. Buying earlier generally locks in a lower premium for the whole term.
It is the time that must pass before certain conditions can be claimed. Health policies typically have an initial period of around 30 days covering everything except accidents, specific waiting periods of one to two years for listed conditions, and a longer period for pre-existing conditions. The exact periods are stated in your policy schedule.
