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.


Secure your child's education with us


A plan that can secure your child's education, even when you are not around.

  • Get Life Cover and Premium Waiver Benefit* to secure your child's future
  • Choose from 11 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

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*Under this benefit, following the date of death of the life assured, provided all due premiums have been paid, units equivalent to the installment premium will be allocated by the Company on the subsequent premium due dates. This benefit is not applicable for the One Pay option. On death of the Life Assured, the following conditions apply:

  • The Fund Value including Top up Fund Value, if any, will remain invested in the respective funds and portfolio strategies as on date of death of the Life Assured.
  • Only the Fund Management Charge and Policy Administration Charge will be levied. Units will be allocated as if Premium Allocation Charges are being deducted. Life Insurance Cover will not apply and mortality charges will not be deducted.
  • The policy cannot be surrendered. No policy alterations will be allowed. The Nominee will not be eligible for making partial withdrawals, paying top up premiums, performing switches, renewing Automatic Transfer Strategy (ATS), redirecting premium, effecting a change in portfolio strategy, opting for settlement option, increasing or decreasing premium payment term, increasing or decreasing Sum Assured, increasing or decreasing policy term.


**Loyalty Additions are applicable from the 6th policy year onwards 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. 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 Limited/Regular Pay policies and 1.5% for Single Pay policies of the average of the Fund Values.

Unlike traditional products, Unit Linked insurance products are subject to market risk, which affect the Net Asset Values & 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. Smart Kid Solution with ICICI Pru Smart Life UIN: 105L145V03. W/II/2960/2018-19.

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