Contact us

To Buy: 1800-258-5899 (9:30 AM to 6:30 PM)


For Existing Policy: 1800-103-0003/ 1800-180-0003/ 1800-891-0003



Locate Branch



Search Button


All that you need to know...


Frequently Asked Questions

What are things to consider while buying a Child Plan

A child plan is a customizable investment cum insurance instrument that helps you meet the financial needs of your child. A child insurance plan essentially provides both insurance and investment benefits. The insurance coverage benefit helps protect your child from any unfortunate life events such as the ill-timed demise of the parent. At the same time, the investment component of the child plan helps meet the financial needs of your child via disciplined, long term investment returns.

Factors to Consider While Choosing a Child Plan

1. Claim Settlement Ratio

The claim settlement ratio or CSR is the metric that is a statement of an insurance company’s efficiency in paying off insurance claims. The higher the claim settlement ratio (CSR), the higher is the number of claims paid out by the insurer. It is suitable that you go with an insurance company with a high CSR.

2. Coverage

The amount of coverage, in turn, depends on various factors such as your age, annual income, and lifestyle habits. Thus, you must compare different child insurance plans based on the available coverage amount – selecting a child plan that offers maximum coverage to secure your child’s future financially at affordable premiums payable.

3. Policy Term

To maximize the benefits of a child plan, it is prudent that you choose the maximum possible policy coverage tenure. You can make sure that the child plan provides sufficient financial protection to your child through his or her growing years. Make sure that you compare different child insurance plans before choosing one with the most extended policy term.

4. Add-on Rider Benefits

Many insurance companies provide the opportunity to maximize your coverage benefits under a child plan by adding rider add-ons. These riders provide an additional sum of money, over and above the base policy benefits, against specific contingencies in life, such as accidental disability and death, and upon diagnosis, a critical illness.

5. Maturity Benefits

A child insurance plan offers to pay a substantial sum of money accumulated throughout the policy tenure, upon maturity. It is advisable that you choose a child plan that offers maximum maturity benefits for a given premium paid.