Which Policy Is Best For Child?

Which scheme is best for boy child?

Best Child Investment PlansPlan NameEntry AgeIDBI Federal Child Insurance Savings PlanParent- 18/ 40, 50 years Child- Greater than one month and less than 18 years of ageICICI Pru Smart Kid’s Regular Premium20/54 yearsKotak Head start Child Assure Plan18/60 yearsLIC – Child Career Plan0/12 years18 more rows.

What is the minimum age for LIC policy?

20 to 60 yearsFOR BASIC PLANAge at entryAge of the Life Assured- 20 to 60 years (age nearest birthday)Minimum Sum AssuredRs. 50,000 /-Maximum Sum assuredNo limit. Sum Assured will be in multiples of Rs.5,000 /- only.ModeYearly, Half-yearly, Quarterly, Monthly or through salary deductions in case of regular premiums.2 more rows

What is LIC Child career plan?

Specially designed to meet the burgeoning needs of children, the Life Insurance Corporation of India has introduced Child Career Insurance Policy. This is a money back endowment plan that has been launched for the benefits child and provide risk coverage during the policy term and during the extended term.

How do you plan your child’s future?

Your ultimate aim should be to build a child education fund that is sufficient to meet your child’s financial requirements even when you are not around. Plan a better education for your child, by choosing a systematic investment route like SIP and avail benefits like compounding to build an education corpus faster.

How can I invest my kids money for the future?

5 ways to invest in your child’s futureBank/building society accounts. Opening a children’s savings account with a bank or building society is a good place to start; and unlike some ISAs, they offer instant access to funds. … Junior ISAs. … National Savings & Investments Children’s Bonds. … Trusts. … Junior Self-Invested Personal Pension (SIPP)

Which is the best LIC policy for child?

Best LIC Policy for ChildLIC Children Money Back Plan. LIC Child Money Back Plan is a traditional, participating money-back insurance policy which pays the benefit in important times/ages of the child to ensure the child receives the required finance for higher education and marriage. … LIC Jeevan Tarun.

What is the best child plan?

Best Child Plans In IndiaPlanEntry AgeMaturity AgeAviva Young Scholar Advantage Plan21-45 years60 yearsBajaj Allianz Young Assure18-50 years60 yearsHDFC SL YoungStar Super Premium18-65 years75 yearsBirla Sun Life Insurance Vision Star Plus18-55 years75 years

Which is the best investment for child?

Here are some of the best investment options that parents can avail to secure the child’s financial future;Systematic Investment Planning (SIP) … Debt Funds. … Sukanya Samriddhi Scheme/Yojana. … Public Provident Fund (PPF) … Term Insurance Cover.

How can I save money for my child’s future?

Read on to learn more about saving money for your kids over the long term.Create a Children’s Savings Account.Open a Custodial Account.Leverage a 529 College Savings or Prepaid Tuition Plan.Open a Coverdell Education Savings Account.Use Your Roth IRA.Open a Health Savings Account.Set Aside Money in a Trust Fund.