Child plan

A child education plan helps you prepare financially for your child’s key milestones, like higher studies or career goals. With a child plan, you can build savings over time, enjoy life cover protection, and ensure your child’s dreams continue even if life takes unexpected turns. It’s a simple, reliable way to secure their future while reducing financial stress.

When you think of securing your child’s future, choosing the right plan makes all the difference. A child education plan comes packed with features that help you build your child’s education fund while enjoying insurance cover. Here’s why many parents choose to buy child plans over regular savings plans:

• Dual benefit of investment plus insurance.

• Systematic savings build a strong child’s education fund.

• Option to switch between equity, debt, or hybrid funds.

• Partial withdrawals available for education expenses.

• Premium waiver ensures continuity even in your absence.

• Wealth boosters and loyalty benefits for long-term investors.

• Flexibility to choose premium payment terms and frequency.

• Tax-saving benefits under Section 80C.

• Higher returns compared to traditional savings plans.

• Tailored solutions to match unique family goals.

Disciplined long term investment

Helps parents save systematically, building a strong corpus over the years. It ensures commitment to creating a child’s education fund without financial gaps.

Life insurance

A child insurance plan guarantees financial security if something happens to the parent, ensuring the child’s needs are met.

Future security

Provides funds for higher education, marriage, or career goals, making your child’s journey smoother.

Maturity benefits

On maturity, the child receives a lump sum amount to cover important milestones.

Tax benefits

Premiums qualify for deductions under Section 80C, reducing your taxable income.

Death covers

Ensures a lump sum payout to secure your child’s immediate and future expenses.

Waiver of premium benefits

If the policyholder passes away, premiums are waived but the plan continues.

Loyal benefits

Some plans reward long-term policyholders with loyalty additions, enhancing returns.

Combating inflation

Keeps your child’s savings ahead of rising education costs.

Flexibility

Choose payment frequency, fund allocation, and withdrawal options.

High returns

Market-linked child education plans offer strong growth opportunities.

Tailored solutions

Customise plans to match your financial goals and child’s future needs.

Child unit linked insurance plans (ULIPs)

A child education plan linked to market performance. These ULIPs grow your wealth over time while securing your child’s future. As a child saving plan, it gives flexibility to switch between equity and debt, ensuring balance between risk and reward.

Child savings plans

Traditional child saving plans offer guaranteed returns with lower risk. These plans help you steadily build a child education fund, ensuring money is available for education milestones without worrying about market fluctuations.

Capital guarantee solutions

This child education plan protects your investment capital while offering growth. Even if markets underperform, your invested amount remains safe, making it a reliable child saving plan.

Guaranteed return plan (traditional plan)

This type of child education plan offers fixed, assured payouts. It’s ideal for conservative investors who prefer predictable returns. As a child saving plan, it helps plan for education costs with certainty.

A child plan works by combining investment and insurance in one product. You pay premiums regularly, which are partly used for life cover and partly invested in funds or guaranteed return options. Over time, these investments grow into a corpus that supports your child’s needs.

For example: Suppose you start a child insurance plan at Rs. 5,000/month for 15 years. Even if something happens to you in year 5, the insurance cover ensures premiums are waived, and the fund continues to grow. By the end of the term, your child receives a maturity benefit, creating a strong financial safety net.

This unique design ensures your child’s goals—like higher education or marriage—are never compromised. That’s why a child plan is considered a dependable mix of savings, protection, and growth.

Why is life cover important in child plans?

A child plan isn’t just about building savings—it’s about securing your child’s life journey, even if you’re not around. The life cover in a child plan ensures that your child never faces financial hurdles.

• Financial security for your child – Provides a lump sum to cover immediate and future expenses.
• Peace of mind – Parents stay stress-free knowing their child’s education and future are protected.
• Affordability – Premiums for life cover are reasonable, offering comprehensive security without straining finances.

Think of it as a promise that your child’s education, dreams, and milestones will never pause because of life’s uncertainties. With life cover, a child insurance plan goes beyond savings to truly safeguard your child’s future.

Child education plans in India 2026

In 2026, parents have access to a wide range of child education plans designed to match different financial goals. From ULIPs that offer market-linked growth to guaranteed return child saving plans, these solutions balance risk and security. Capital guarantee products appeal to those seeking protection with growth, while traditional endowment-based plans ensure stability.

What makes modern child education plans unique is flexibility—partial withdrawals for school fees, wealth boosters for long-term investors, and riders for extra protection. Plus, tax savings under Section 80C and Section 10(10D) enhance their value.

In short, today’s child education plan options in India give you freedom to save, invest, and protect your child’s journey, making them an essential part of family financial planning.

How to choose the right child education plan?

Choosing a suitable child plan means aligning it with your goals. First, assess future education costs and match them with the right policy term. Then, decide whether you want market-linked returns (ULIPs) or guaranteed payouts (traditional plans).

Check features like premium waiver, partial withdrawals, and fund-switching flexibility. Tax benefits under Section 80C and 10(10D) also add value.

Compare multiple child education plans to see which offers the right balance of security and growth. Using a child plan calculator helps estimate future corpus needs and investment amounts. By doing this homework, you ensure your chosen plan supports your child’s dreams seamlessly.

How much do you need to invest for your child’s education?

The cost of education keeps rising every year, which is why early planning makes such a big difference. While exact figures vary depending on the course, location, and institution, a child plan calculator can give you an approximate idea of how much to save.

These numbers are only approximate, but they highlight how inflation impacts education expenses. A child education plan helps you stay prepared, ensuring you’re financially ready when your child reaches these milestones.

Why early planning for your child’s education secures a brighter future?

Planning early through children plans ensures you:

• Build a larger fund with compounding power.
• Tackle rising education costs with ease.
• Spread investments over time for affordability.
• Create security against uncertainties.
• Keep your child’s future stress-free and financially strong.

Step 1: Click on Get Quote

Click on Get Quote. You will be asked to enter your mobile number so we can send you a one-time password (OTP).

Step 2: Enter the OTP

Check your phone for the OTP and type it in when prompted. This helps us verify it is you.

Step 3: Fill in your details

Once the OTP is confirmed, you’ll see our application form pop up.

• If you are an existing user, some of your details might already be filled in.
• If you are new, just enter your name, gender, date of birth, email ID, and PIN code.
• Do not forget to tick the checkboxes to proceed.

Step 4: Choose your plan

You will now be redirected to our partner’s page. This is where you can:

• Select the coverage amount
• Choose the policy tenure
• Pick your payment type
• Decide how much you want to invest

Once everything looks good, you can go ahead and complete your purchase.

Age of the child:

You can usually buy a child insurance plan right from birth! In fact, many plans allow you to start as soon as your baby arrives. However, some insurers may ask that your child is at least 90 days old before you can purchase the plan.
The upper age limit to start a plan is often around 10 to 12 years, so it’s best to plan early.

Age of the parent:

Parents or legal guardians can typically buy a child plan if they’re between 18 and 50 or 55 years old. This wide age range helps you plan ahead for major life stages — like school admissions, college education, and even overseas studies.

Policy term

The duration of the policy usually continues until your child turns 18 or 21 years old. Some plans are even designed to provide financial support for higher education or university expenses, depending on your goals.

Parent’s financial and health status:

Insurers would like to look at your financial stability. But do not worry — you are not locked into one option. There are plenty of plans out there tailored to different budgets and financial goals, so you can easily compare and pick what suits you best.

For higher coverage amounts, you might also be asked to submit health details or undergo a medical check-up — just to make sure everything is in good order.

Identity proof:

Government-issued Photo ID (Aadhaar card, passport, Voter ID, driving license, etc.)

Address proof:

Recent utility bills (electricity, water, telephone), bank statement or passport, ration card or Aadhaar card (if not already used as ID proof).

Age proof:

Birth certificate or passport, driver’s licence, or voter ID.

Photograph:

Recent passport-sized photographs of the policyholder.

Income proof:

Salary slips or bank statement (if self-employed, income tax returns may be required). Form 16 or ITR for salaried individuals.

Know Your Customer (KYC):

You required to share Aadhaar card (for KYC verification) and PAN card (mandatory in some cases).

Medical records (if applicable):

In case the sum assured is high or if the insurer asks for it, health records or a medical check-up report may be required. This is more common for higher-risk insurance policies or higher sums insured.

Step 1 - Register your claim request

Register the claim request with the insurer through their website, e-mail or by calling their claim assistance contact number.

Contact No: 020-6712-1212
Email at: customercare@bajajlife.com

Step 2 - Submit the required documents

Submit the necessary documents along with the duly filled claim form online. You can also submit it to the nearest branch of the insurer.

Step 3 - Claim settlement

The insurer will assess the claim request. The claim initiator will receive the status via e-mail and SMS. The claim initiator can also check it online on the insurer’s website.

Original policy documents.

Age proof, such as PAN card, passport, voter’s ID, birth certificate.

Attested copy of death certificate issued by local municipal authority.

Death claim intimation form downloaded from the BALIC’s official website.

NEFT mandate form attested by bank authorities or copy of cancelled cheque or bank account passbook.