In ULIPs, the investment risk in the investment portfolio is borne by the policy holder
Being a parent is undoubtedly, a heroic task. Financial planning for a child’s future is an essential and an on-going process. It is crucial to choose smart investment options aimed at providing a secured path to your child. One such investment avenue is a child education plan.
ICICI Pru Smart Kid with Smart Life is a child education plan, which is a sustainable investment option that is also able to provide financial security to spouse and child, in case anything happens to you. Here are some of benefits of this plan that makes it a sound investment plan for your child’s future:
  • Premium Waiver Benefit: As a parent, you never want to leave your family behind with any financial burden, after your demise. We ensure the same, with this plan as all the future premiums are waived off in case of your death. ICICI Prudential continues investing in the rest of the premiums on your behalf and your child can get that money on maturity, which will be a boon at the time of his or her higher studies and marriage.
  • Financial Protection: You always wish to rely on an investment that can provide you and your family a sound financial protection. This plan gives you that sense of security. Your child gets a lump sum amount, at the time of your death (life cover). So, the child’s education does not get affected when you are not around, covering the school fees and other utilities of your family.
  • Control of Investment: You can expect a complete flexibility on your investment to decide where your premium paid must go- equity, debt or balanced funds- so as to build a strong investment plan. It also gives you the freedom to switch among 8 investment options anytime, tax free.
  • Emergency Withdrawal Fund: There can be a case of emergency when you may need funds immediately. The child education plan from ICICI Prudential is able to take care of that by allowing you to withdraw up to 20%* of the fund value on completion of 5 policy years.
  • Loyalty Additions: This child education plan reaps you the benefit of staying invested in the plan. It rewards you with Loyalty Additions^ and Wealth Boosters^ to give you sizeable returns .
  • Tax Benefit: Enjoy tax benefits on the premiums you pay under section 80C and on Maturity under section 10(10D) of the Income Tax Act, 1961.

Why a Child education plan is important?

By investing in a savings plan for child, parents can deal with costly education fees and inflation in prices, or any uncertain event. More importantly, your child will be financially protected at any point of time during his education.

It is important to choose the right child education plan as it gradually develops into a support system for fulfilling your child’s future needs. He or she will continue to be under a security blanket in the present too, even in your absence. After all, a secured future is one of the greatest blessings you can give to your child!



* Withdrawals are permitted provided monies are not in the DP fund.

^ Loyalty Additions are applicable from the 6th policy year onwards. This is in the form of extra units at the end of every policy year. Each Loyalty Addition will be equal to 0.25% of the average of the Fund Values on the last business day of the last eight policy quarters. You get an additional Loyalty Addition of 0.25% every year from the end of year 6 if all premiums for that year have been paid. Wealth Boosters will be allocated as extra units at the end of every 5th policy year starting from the end of the 10th policy year. Each Wealth Booster will be 3.25% for Regular Pay policies and 1.5% for Single Pay policies of the average of the Fund Values on the last business day of the last eight policy quarters.

Unlike traditional products, Unit linked insurance products are subject to market risk, which affect the Net Asset Values and the customer shall be responsible for his/her decision. The names of the Company, Product names or fund options do not indicate their quality or future guidance on returns. Funds do not offer guaranteed or assured returns.

UIN: 105L145V01


Points To Remember about Child Education Plan
Life cover + Premium Waiver Benefit
Invest in equity, debt and balanced funds
Get Loyalty Additions & Wealth Boosters
Tax benefit up to `46,350 on premium paid


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