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Best ULIP Child Plan Offered by Canara HSBC OBC Life Insurance for Your Child's Bright Future

Best ULIP Child Plan Offered by Canara HSBC OBC Life Insurance for Your Child's Bright Future

Best ULIP Child Plan

Having a child is one of the most beautiful feelings in the world. It's the time of your life when you realize your responsibilities while holding that tiny little one in your arms. As a parent, you always want them to stay healthy, pursue quality education and gets everything they would have dreamt of. In order to fulfil your child dream and career goals you can plan to buy a child plan for their betterment.

A child insurance plan is an insurance cum investment plan that not just offers a life cover but also gives the benefit of investment. As your child grows, your child might want to pursue higher studies which can cost you a fortune. Thus, if you plan your finances in a better way, then it will help in shaping up your child's future. For any long term goal, you need to plan in advance. So, if you are looking for a long-term investment option, then Canara HSBC OBC Life Insurance Smart Future Plan is the ideal choice for you. It gives you the flexibility to invest as per your child's education needs as well as other financial goals.

About The Plan

Canara HSBC OBC Life Insurance Smart Future Plan is a unit linked insurance child plan which is designed specially to secure the financial future of your child. The auto fund rebalancing, safety switch option, partial withdrawal facility is some of its unique features that ensures your child continues to get the best, even in your absence. Along with this, you will also get tax benefits on the premiums paid.

Key Features of ULIP Child Plan

  • Entry Age-18 years.
  • The policy offers policy term i.e., 10, 15, 20, and 25 years.
  • Annual Premium Range-25,000 (Minimum)
  • The policy helps in creating wealth so that there is enough money to finance your child's higher education, marriage, etc.
  • You get an additional feature of milestone withdrawal as an option

Here's why you must think of buying this ULIP for your child

You can avail tax benefits on the premiums paid as per Section 80C of the Income Tax Act, 1961. 6 fund options to choose from and you can switch between them anytime. 10,000 is the minimum amount that you can switch. The funds include

  • Debt plus funds
  • Liquid funds
  • Balanced plus funds
  • India multi-cap equity funds
  • Equity ll funds
  • Growth plus funds
  • You can make partial withdrawals from your investment for any emergency after the completion of 6 years with 10,000 Rupees as the minimum withdrawal amount You can change your sum assured from 6th policy year, given all premiums are paid by you. It gives you the flexibility to pay your premiums for the entire policy term based on the financial needs of your child.

Benefits of buying Future Smart-Investment Plan

You can avail the following benefits when buying a future smart-investment plan-

This plan takes care of your family's future financial needs, even in your absence. In case of your untimely demise, your nominee will get the following death benefits

  • Fund value on maturity
  • Lump sum amount on death of the policyholder
  • In case of death or total & permanent disability (if chosen), all your future premiums will be funded by the insurance company.

You can choose your policy term and premium payment term as per your needs. You can select any policy term of 10/15/20/25 years.

With safety switch option, you get the option to shift your money into low risk funds when your policy is about to mature.

From the beginning of your 2nd policy year, you will have the option to change the allocation of your investments. Although, auto fund rebalancing is allowed once in a year.

On the whole, this savings-cum-investment plan will not just help in meeting the growing needs of your children but will also safeguard their future when you are not around. So, this coming year, gift your child a safe and promising future with Canara HSBC OBC Life Insurance Smart Future Plan.

Speak to an insurance specialist now!

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