What are Child Education Insurance Plans?
Child Education Insurance Plans are insurance plans that take care of your protection and savings needs for securing the future of your children. As a parent, one of your most important goals would be to make sure that your children have a bright future and lead their lives comfortably. These plans can help you achieve this by saving for your children’s higher education at a prestigious university.
In our Child Education Insurance Plan, you pay premiums for a specified period (monthly, half-yearly, yearly or single pay). Once the policy term ends, you receive a lump-sum amount called the Maturity Benefit. In case of an unfortunate event during the policy term, the company offers your nominee the life cover
amount. The company also waives the future premium payments* for the remaining policy term to ensure that your children’s future is always secure. This benefit is available, provided all due premiums are paid.
Why do you need a Child Education Plan?
- A Child Education Plan is an insurance policy that offers protection as well as an opportunity for saving money to ensure a secure future for your child
- It makes sure that your child receives the education he/she desires with a lump-sum payout at maturity or when any unfortunate event occurs to you
- It acts as a safety net to make sure that your child’s education does not get affected even if you are not around. In case of an unfortunate event, your child receives the life cover
Features of a Child Plan
Generally Child Education Plans provide the following features-
- Lump-sum benefit: The plan provides your children with a lump-sum benefit in the case of your death within the policy term
- Waiver of premium: Your child won’t be burdened with premium payments as the company pays it on your behalf. Thus, the policy continues to exist
- Partial withdrawals: You can access your funds during the term in the form of partial withdrawals, subject to conditions. This takes care of your child’s different educational milestones
- Tax benefits: Such a policy offers tax benefits to the policyholder under section 80C of the Income Tax Act^
- Loyalty Addition** and Wealth Booster**: These plans may also offer benefits such as Loyalty Addition and Wealth Booster, to help you grow your money without you needing to invest extra money
Types of Child Plans
1. Child ULIPS
A Unit Linked Life Insurance Plan
is an insurance policy that doubles up as an investment. A part of your money goes towards protecting your child just like the standard child education plan. The remaining part is invested in a mix of equity and debt.
2. Child Savings Plans
Child Saving Plan allows the policyholder to invest in the plan without any market risk. It is a multi-faceted plan that provides life cover, maturity benefits and tax benefits, all in one single policy.
How do Child Plans work?
Let’s consider the example of Mr. Kapoor, who has taken ICICI Pru Smartkid, a 10-year insurance policy for his child. Now he will have to pay a premium monthly, half-yearly, yearly or in a single-pay depending on his selection of premium mode. In the case of Mr. Kapoor's death in the 7th year of the policy, his nominee will still receive the entire life cover amount. In case Mr. Kapoor survives the policy tenure, he may choose to use the amount in parts for important milestones of his child's educational journey, or he may choose to get a lump-sum payout at the end of the term.
Secure your child's education with us

A plan that grows your investments and secures the educational milestones of your children.
- Get life cover and Premium Waiver Benefit* to secure your child's future
- Choose from 13 funds (equity, debt and balanced) to get the potential for better returns$
- Get rewarded with Loyalty Additions** and Wealth Boosters** by staying invested for the policy term
✅ What is Child Education Plan?
A Child Education Plan is an insurance plan that helps you protect your savings and safeguard your child’s future. The plan provides you with options to invest your savings and then use them for your child’s education, in parts or in one single withdrawal.
✅ Is ICICI Prulife plan suitable for child education?
The ICICI Pru Smart Life Plan works as a great plan for people who want to secure their children’s education even when they are not around. The plan provides children with life cover in case of policyholder' death. Otherwise, the plan offers lump-sum tax-free payouts at the end of the term.
✅ What is Child Life Coverage?
A Child Life Coverage is a predetermined lump-sum amount that the nominee receives in the case of policyholder's death within the policy term.
✅ How to buy Child Insurance Plan online?
It is very simple to buy a Child Insurance Plan online with iciciprulife.com. Just click on ‘Buy Now’. Select your desired amount, your preferable premium mode and fill in your details.
✅ What is Child Education Plan?
A Child Education Plan is an insurance plan that helps you protect your savings and safeguard your child’s future. The plan provides you with options to invest your savings and then use them for your child’s education, in parts or in one single withdrawal.
✅ Is ICICI Prulife plan suitable for child education?
The ICICI Pru Smart Life Plan works as a great plan for people who want to secure their children’s education even when they are not around. The plan provides children with life cover in case of policyholder' death. Otherwise, the plan offers lump-sum tax-free payouts at the end of the term.
✅ What is Child Life Coverage?
A Child Life Coverage is a predetermined lump-sum amount that the nominee receives in the case of policyholder's death within the policy term.
✅ How to buy Child Insurance Plan online?
It is very simple to buy a Child Insurance Plan online with iciciprulife.com. Just click on ‘Buy Now’. Select your desired amount, your preferable premium mode and fill in your details.
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