5 Smart Tips to Plan Your Child’s Education Abroad in 2026

Written by : Knowledge Centre Team

2025-08-07

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10 minutes read

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As a parent, you must have encouraged your child to become the best in studies and extracurricular activities. While motivating your children to never settle for the ordinary, you must also take care to fulfil their dreams and aspirations. In the present era of globalisation, children have bigger dreams, especially when it comes to receiving education abroad. And, for meeting the cost of your child’s foreign education, you need a viable financial plan. You also need to ensure that the child’s financial future is secure, even in your absence. A child education plan can help you fulfil your child’s educational needs, whether you are around or not.

Understanding Child Education Plans

Child education plans, are an amalgamation of both investment and insurance. You can either get a lump sum amount on the maturity of the policy, or receive coverage with flexible pay outs at crucial milestones of your child’s education. The key highlight of child insurance or life cover in these plans ensures that your child’s education continues, sans any hiccups, even in the case of an unfortunate eventuality.

If you are planning to meet the cost of your child’s foreign education through a child education plan, here is a five point checklist:

Select the right type of child education plan: You can select from three policy types: endowment policy, money back policy and Unit Linked Insurance Plans (ULIPs). Money back plans can help your child receive regular survival benefits. The amount paid on regular intervals ensures that the finances required for the key life stage goals of your child are easily met. Endowment plans, on the other hand, provide a lump sum amount on maturity along with bonuses and other benefits. Industry experts also suggest opting for ULIP as they not only provide higher returns from investments in debt and equity funds, but are also equipped with waiver of future premium payment, in the case of any unfortunate eventuality.
Understand the child insurance component in these plans: What happens to your child’s foreign education in the case of your sudden demise? The best child education plans, like the waiver of premium ULIPs, ensure that the insurance company continues with the investments, in addition to providing a lump sum amount to your child as the sum assured. In the case of endowment and money back policies, the child insurance component provides a lump sum amount in the case of an unfortunate event.
Make use of the features and benefits of child education plans: Before planning for your child’s education abroad, you must consider the benefits of a child education plan. You can avail tax exemption for making premium payments for a plan under Section 80C of the Income Tax Act, while the maturity benefits/ sum assured is exempt from taxation under Section 10D of the act. You can also avail a secured loan, like a higher education loan using the child education plan as collateral. A child education plan is also equipped with manifold benefits for your child. Along with providing sufficient corpus to fund the cost of your child’s foreign education, this plan can also allow you to partially withdraw funds for any emergency, like the cost of your child’s medical treatment. By having the key benefit of capital appreciation over long-term, this plan can also act as an income protection plan for your child.
Opt for riders to get a comprehensive package: You can also consider enhancing the scope and coverage of a child education plan by adding riders. You can avail riders, including those for accidental death and disability, waiver of premium and critical illness.
Compare plans to zero in on the best: As a responsible parent, you should compare the various plans available in the market, and select the best. This will help you secure your child’s future.

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Conclusion

Thus, a child education plan can be your best bet for planning your child’s education abroad. You can also choose to invest in the best ULIPs, which provide triple benefits of savings, investment and life insurance. You can zero in on the Promise4Growth Plus plan from Canara HSBC Life Insurance, which provides multiple choices to invest your savings along with the benefit of a life insurance cover. Along with returning mortality charges at the time of maturity, it also maximises your savings through wealth and loyalty boosters.

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

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5 Point Checklist for Your Child's Education Planning Abroad