Overview
HDFC Life Insurance offers a range of child plans to help parents secure their child's future financially. These plans are specifically designed to provide financial security to the child in case of any unfortunate event while offering investment benefits to the policyholder.
Investing in HDFC Life Insurance Child Plan is the best way to earn saving for future requirements of your child’s future, such as higher education. HDFC Child Plan offers financial protection to ensure your child gets all the facilities even when you are not around.
Table of ContentBenefits of HDFC Life Insurance Child Plans
HDFC Life Insurance offers a range of child plans that are designed to provide financial security for a child's future. These plans come with various benefits that can help parents secure their child's future and offer investment opportunities to the policyholder. Some of the benefits of HDFC Life Child Plans are:
- Life Cover: One of the primary benefits of HDFC Life Child Plans is life cover. HDFC Child Plans provide life cover to the policyholder, which ensures that the future of the child is secured in case of any unfortunate event.
- Maturity Benefit: HDFC Life Child Plans offer a maturity benefit, which means the policyholder will get a lump sum amount at the end of the policy tenure. This lump sum amount can be used for the higher education or marriage of the child.
- Partial Withdrawals: Policyholders can make partial withdrawals after a certain time period in case of any urgent financial requirement.
- Premium Payment Options: HDFC Life Child plans to offer flexible premium payment options such as regular, limited, and single premium payments. The policyholder can select the premium payment method that best meets their needs and financial objectives.
- Tax Benefits: HDFC Life child plans offer tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961, allowing you to save taxes while securing your child's future.
- Death Benefit: HDFC Child plans provides the death benefit to the nominee in case of the sudden death of the policyholder.
- Waiver of Premium Benefit: Some of the HDFC Life Child Plans come with a waiver of premium benefit, which ensures that the policy continues even if the policyholder is unable to pay the premium due to any disability or illness.
Need of HDFC Child Plans
Here are a few reasons why HDFC Life child plans are essential for your child's future requirements and financial security:
- Education Expenses: Planning well in advance for your child's education expenses is essential because education costs are rising rapidly. To ensure that you can provide your child with the best possible education without worrying about money, HDFC Life Child would like to offer regular payouts that can be used towards their education.
- Marriage Expenses: It is essential to plan for wedding expenses well in advance because they can be a substantial financial strain for the parents. With HDFC Life Child's regular payouts, you can fulfil your child's goals without worrying about money. These payments can be used to pay for your child's wedding expenses.
- Future Financial Security: HDFC Life Child plans to provide financial security for your child's future needs in case of any unforeseen event like the death or disability of a parent. With the guaranteed benefits that HDFC Child plans to offer, you can rest assured knowing that your child's needs will be cared for even if you are not around.
- Tax benefits: HDFC Life child plans offer tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961, allowing you to save taxes while securing your child's future.
- Customization: HDFC Life child plans offer flexibility and customization options that allow you to choose the premium payment frequency, policy term, and payout options as per your needs and financial goals.
Child Plans Offered Under HDFC Life Insurance
HDFC Life Insurance offers various types of child plans; every child plan has its own unique features and benefits. Below we have listed all the child plans offered by HDFC Life Insurance, along with their key features and eligibility criteria.
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HDFC SL Youngstar Super Premium |
Key Benefits
- Benefit Payment Preference
- Death Benefit
- Maturity Benefit
Eligibility Criteria
Entry Age: 18 Years to 75 Years
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Hdfc Life Youngstar Udaan |
Key Benefits
- 3 Maturity Benefits
- Loan Benefit
- Death Benefit
Eligibility Criteria
Entry Age: 30 Days to 75 Years
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HDFC Click 2 Wealth Premium Waiver Option |
Key Benefits
- Death Benefit
- Maturity Benefit
- Premium Waiver Option
Eligibility Criteria
Entry Age: 18 Years to 65 Years
HDFC Child Plan Buying Process
You can buy HDFC Child plans through two platforms, i.e., from the official website of HDFC Life Insurance or RenewBuy.com. Below we have explained both the buying process in detail:
Buy from the Official Website of HDFC Life Insurance
- Visit the “HDFC Life Insurance” official website.
- Click on the “Life Insurance Plans” section from the header menu.
- Then, click on the “Child Plans” section from the drop down.
- Select the desired Child Plan and click on the “Buy Now” button.
- Fill in the required details and click on the “Calculate” button.
- Select the cover option you want and make your payment.
Buy from “RenewBuy.com”
- Visit the official site of "RenewBuy."
- Click on the “Life Insurance” tab.
- Go to the “Life Insurance Companies” section.
- Select “HDFC Life Insurance” company from the list.
- Scroll down and select the “Child Plan” section
- Click on the “Buy Now” button
- A pop-up will show you the plan details and the additional riders information.
- Click on the “Proceed to Buy” button.
- Make online payment and the policy documents will be sent to your registered email address.