Savings Insurance

Child Savings Plan

Plan Ahead for College & Higher Education

Build a dedicated education corpus for your child’s graduation, post-graduation, or wedding with milestone payouts and an inbuilt Waiver of Premium feature ensuring their dream never stops.

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Key Plan Highlights:

Inbuilt Waiver of Premium: Insurer pays all remaining premiums if parent passes away

Timely milestone payouts matching college admission ages (18, 21, 24)

Choice between guaranteed savings and equity-growth models

Tax benefits as per prevailing tax laws*

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Essential Benefits of Child Savings Plan

Uncompromised Education

Helps build a fund for higher education, including professional or overseas degrees.

Double Financial Protection

On the parent’s death, plans with waiver of premium typically pay the sum assured, waive future premiums and keep the policy going for the child (as per plan terms).

Plan for Education Inflation

Starting early helps your savings keep pace with rising education costs.

What is Covered Under Child Savings Plan?

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College milestone annual disbursements

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Lump-sum graduation completion corpus

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Accidental disability and critical illness protection for parent

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Maturity benefit timed for education goals

*Coverage terms, exclusions and waiting periods vary by insurer and plan. Please read the policy wording.

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*Premiums and features shown are indicative and vary by insurer, plan, age, health, location and add-ons. Tax benefits are subject to prevailing tax laws. Insurance is the subject matter of solicitation. Please read the sales brochure and policy wording carefully before buying.

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Got Questions?

Child Savings Plan Frequently Asked Questions

Clarify all your doubts with direct expert answers.

What is the Waiver of Premium feature?

If the breadwinning parent passes away, the insurer waives all future pending premiums and continues the policy so the child receives the planned benefits (as per plan terms).