A ULIP-based child plan can help you financially secure your child's future and provide a comfortable life. These plans can help you fulfil their goals in life, such as higher education, marriage, and more. ULIP-based child plans offer you the flexibility to invest as per your needs and provide you returns that can help fulfil your child’s financial goals. They also offer a life cover^ that ensures your child’s financial security in case of an unfortunate event.

Features of a ULIP-based child plan:

A ULIP-based child plan can be ideal for long-term savings. These plans provide many beneficial features. Some of these are mentioned below:

Investment in a diversified portfolio

A ULIP-based child plan offers a diversified investment opportunity. You can choose to invest in equity, debt or balanced funds as per your risk appetite and needs. This offers the opportunity to reduce the overall risk of your investment by investing in multiple funds.

Fund switching option

A ULIP-based child plan provides you with the option to switch between funds multiple times during the policy term. This enables you to take advantage of market opportunities. You can choose to switch to relatively secure debt funds when the market is volatile and to equity funds when the market conditions are good.

Partial withdrawal# of funds

ULIP-based child plans provide you with the option to withdraw money from the plan during the policy term. This can help you meet various milestones of your child. This feature also helps you stay financially prepared for any emergency.

Safety switch option

As you move closer to your goal and your time horizon narrows, your risk appetite may reduce. For this, ULIP child plans enable you to systematically move from high-risk funds to low-risk funds a few years before the maturity date. Starting four to five years from your maturity date, you can choose to move all your investment into low-risk funds in a phased manner. This helps to protect your returns from the volatility of the market.

How can a ULIP meet your child's immediate financial requirements?

Although a ULIP-based child plan is suitable for long-term goals like higher education, marriage, and more, it can be used as an investment to secure your child in the present too. ULIPs are essentially life insurance plans that protect your child financially in case of an unfortunate event. This acts as a safety net for your child at every stage.

Some ULIP-based child plans, like ICICI Pru Smart Life, offer a waiver of premium benefit that waives off all future premiums towards the plan in case of an unfortunate event. In such a case, the insurance company pays all future premiums on your behalf so that the plan remains active and your child receives the benefits of the plan on maturity. This is in addition to the life cover^ provided by the plan. Hence, look for the best ULIP based plan for your child that can help ensure your child’s financial security at all times.


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^ Life cover is the benefit payable on death of the life assured during the policy term.

# Partial withdrawals are allowed after the completion of five policy years provided monies are not in DP Fund. You can make unlimited number of partial withdrawals as long as the total amount of partial withdrawals in a year does not exceed 20% of the Fund Value in a policy year. The partial withdrawals are free of cost. DP Funds refer to Discontinued Policy fund and consist of money from lapsed policies.

ICICI Pru Smart Life (unit-linked non-participating individual life insurance plan) - UIN: 105L145V08


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