Max Life Child Insurance Plans

Being a parent it’s difficult to fulfil every basic needs and demands of your children’s. it’s hard to maintain the balance both inside and outside life’s and still have to pay attention on the children’s to give them the best out of anything. So by giving them the best Max life child insurance plan help to save and secure your child’s future.

The plan is an investment that ensures the security of future, education, higher studies and let children’s being able to stand in a competitive environment. Also give’s assurity to secure the future financial needs in your absence as well.

Key Features

1. Tax benefits with extra premium payment.

2. Provides long term investment and saving for children’s.

3. A child/nominee receives the lump-sum payout as death benefit, as confirmed at the time of buying the policy.

4. your corpus will grow by 8% (return) after 20 years, if started with an investment from 5000.

5. Financial goals, fund options, policy terms and additional features are being considered while buying a child plan.

How will a Child Plan Help to Secure Your Child’s Future?

• Max life child insurance plan provides the financial security in the most difficult times or in the most crucial years of your childs life
• This plan is an amalgamation of insurance and investment, which offers a perfect blend of complete saving and security of life.
• Child insurance provides death and maturity benefits to the child/nominee after the unfortunate death of the parents.
• Favours to secure and maintain discipline life, as well long term saving, which later becomes a challenge.

Types of Child Insurance Plans

Max Life Future Genius Education Plan

With that Max life future genius education plan always think about the children’s by      supply the right amount of education and knowledge, also make parents to think upon it to bestow their children’s to get a complete certainty in their higher education and learning.

Max Life Shiksha Plus Super Plan

Max Life Shiksha Plus Super Plan is a non-participating unit linked child, which offers a comprehensive security for your child’s future by offering bundles of benefits to keep your child’s dream to aspire his or her passion intact. This plan is a perfect gift to secure your child’s future by investing as per your risk appetite to grow the corpus appropriately.

What are the Main Points to Consider while Buying a Child Plan?

Financial Goals and Cover Amount - In the investment process a parent should estimate the amount of money that will help to fulfil your childs needs, interests and aspirations. If parents are buying a child insurance policy for child education, additional cost would be initiated for extra curricular activities, travel, boarding etc. Future expense calculator helps parents to ascertain the inflated amount that focuses your marginalised goals.

Policy Term - A child insurance plan can be bought for a policy term of 15 to 25 years. Parents must opt the policy term with sensibility that coincides the prominent milestones for your child. For example, if your son is 2 years old today and you expect him to start his college at the age of 18 the buy a policy with a term of 16 years.

Fund Options - Mostly all of the child insurance policies offers multiple types of fund options varying degrees of risks (equity debt allocations). Based on your credit appetite and investment policy term and always opt the funds that meets all your requirements.

Additional Features - Parents should also check the additional features and benefits, for instance withdrawal facility, in the prominent milestones of your child’s life, in addition with assured and loyalty bonus.

Why You Should Buy Child Insurance Plan?

Parents perform duties towards their children’s, inclusive of education, higher studies, and marriage which demands saving of money but with max life child insurance plan help in every perspective of saving money and investment.

Child insurance plan help to build corpus for your child and also protect them and fulfil all their requirements in your absence.

Use as a Collateral - If you aiming to avail an education loan for your child coming future then you can use child insurance as a collateral.

Partial Withdrawal - In case, your child met with an accident or get hospitalised due to some medical conditions then these plans help or allow you to withdraw a lump-sum amount from now till maturity policy. This payout will act as an add-on in your health insurance plan.

Is any Tax Benefit Available?

As per the existing tax law premium paid towards child plans are exempted under section 80C of the income tax act. Maturity benefit are also exempt from tax as per section 10(10D) of the act.

Max Life Insurance Company Limited offers following Child Insurance Plans: