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Secure your child's future
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Why do you want to save for your child?
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College Education
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Schooling Expense
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Gift for Child

Here are the recommended plans

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Unified Child Plan Calculator


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Plan continues even in your absence


ICICI Pru child plans continue to deliver benefits and waives` off future premiums in case of an unfortunate event and/or if the parent suffers from critical illness or Accidental total permanent disability. We pay future premiums on parent’s behalf till policy completion which means your child will receive complete maturity amount to fulfil their future goals, just like you have dreamt!

Recommended For

Stepping into Parenthood

Stepping into Parenthood

Parents of Toddlers

Parents of Toddlers

Parents of Young Kids

Parents of Young Kids

Parents of Teenagers

Parents of Teenagers

Single Parent

Single Parent

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Stepping into Parenthood

This plan is for parents who are welcoming a baby in their life and wish to build a corpus to fulfil their child’s future needs and achieve all key milestones, even in their absence.

Parents of Toddlers

Young parents who have just started planning for their little ones future and looking for an investment plan that helps them create wealth for their future expenses or emergencies

Parents of Young Kids

This plan helps parents to build wealth for their child’s future so that they can keep up with the rising costs of higher education each year and make sure that their child’s dreams are protected even in their absence.

Parents of Teenagers

It’s never too late to start planning for your child’s career. This plan allows you to grow a considerable fund for your child’s aspirational goals through market linked returns within a limited time frame.

Single Parent

Ideal for parents who are single-handedly taking care of their child. Wealth creation combined with financial security helps single parents ensure that their child will get safe quality life even in their absence.

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Why do you need a child plan?arrow

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Your child’s future depends a lot on how well-prepared you are financially for the future. Your child’s needs will change with time but your responsibilities will not. Through a child plan, you will be able to build an adequate amount of fund by investing a nominal amount regularly... Read More

Key reasons to Invest in a child plan

1

Be ready against rising education costs

1

Be ready against rising education costs

At 11% educational inflation, cost of MBA in 2023 was Rs 24.6 lakh which is estimated to grow to Rs 69.8 lakh in 2033 and to Rs 1.98 crore by 2043.* With the increasing cost of education parents need to be prepared to fund not only college admission but also additional skills their child might need to have an edge over the rest.

Child Plan benefits you cannot ignore

Protection against your permanent absence

Premium waiver benefit

How should you plan for your child’s future?

Be an early bird

Choose a plan as per your risk appetite

Calculate right Tenure of plan

Check for payment methods

Check for flexible withdrawal options

Choose a plan with tax benefits

The bottom line!

Creating a strong financial cushion for the child’s future is extremely important and the child insurance plan helps to create the right financial backup for the child.

Steps to buy

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Savings Plan

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Policy Issued

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Phone

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Why choose ICICI Prudential Life?

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9.69
Crore+

Lives covered as on
March 31, 2024^^

Benifits Like

₹2.76 Lakh Crore`

Benefits paid till
March 31, 2024`

Diamond Asset Management

₹2.94 Lakh Crore+

Assets under
management as on
March 31, 2024^^

Return

1 Day<

Claim Settlement

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Key Terminologies

Sum Assured

ULIP returns

Fund value

ULIP charges

Premium

Maturity benefit

Death benefit

Lock-in period

Net Asset Value (NAV)

Top-ups

Switching option

Riders

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Sum Assured

The nominee of the policy is liable to receive a fixed amount in case of the demise of the policy holder during the policy term. This amount is called the Sum Assured.

ULIP returns

The returns of a ULIP policy depend upon the performance of the market as well as your fund selection. One needs to stay invested for long term to be able to maximise their returns.

Fund value

The premiums you pay in a ULIP are invested in funds, which grow over time. The fund value indicates the total value of your fund on the current date. This is calculated by multiplying the number of units you own by the Net Asset Value (NAV) or the monetary value of each unit.

ULIP charges

Insurance companies levy certain charges on a ULIP. Under a ULIP, a few of the levied charges are as follows:
  1. Policy administration charge
  2. Fund management charge
  3. Mortality charge
  4. Premium allocation charge

Premium

Premiums are the payments you make towards your plan. As an investor, you can pay premiums monthly, half-yearly, or annually as per the mode selected by you while investing. Failure to pay the premiums on time may lead to the lapse of the ULIP Policy.

Maturity benefit

Maturity benefit is offered to the policyholder when the policy tenure gets over. You can avail tax-free* maturity amount as per Section 10 (10D) of the Income Tax Act 1961, subject to the provisions stated therein.

Death benefit

The death benefit is the total amount payable to the nominee by the insurance company on the policyholder’s unfortunate demise. What your beneficiary gets would depend on the plan you opt for. The nominees can obtain the death benefit either as a lump-sum or in monthly instalments.

Lock-in period

Lock-in period is a stipulated time till which you cannot withdraw your investments. In case of ULIP, if a policyholder surrenders the policy before the completion of the lock-in period, the fund value is shifted to a discontinuation fund. The policyholder can withdraw the amount once the lock-in period is over. A ULIP has a lock-in period of 5 years.

Net Asset Value (NAV)

In a ULIP, Net Asset Value (NAV) means the value of a single unit of your investment. An investment fund, which is a pool of investments from multiple investors (minus any liabilities), is divided by the number of outstanding units. The NAV of a fund is therefore the price of a single unit.

Top-ups

As the name suggests, the top-up premium is an additional amount paid over base premium. If a ULIP policyholder wants to increase the amount of his/her investment in funds, he/she can do so through top-ups.

Switching option

A ULIP plan allows an individual to invest in multiple fund options at the same time. However, the policyholders also have the freedom to switch between these ULIP funds. The number of switches allowed depends on the company’s policies.

Riders

Riders or add-ons are the additional benefits provided by insurance companies, which enhance the value of the coverage. Typically, the most common riders offered are critical illness rider, waiver of premium rider, accidental cover, and so forth.

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