List Of 10 Best Investment Plans For A Boy Child In India 2022

In today’s challenging world, every parent has dreams for a child, and the expectations are even more when it is a boy child. For big dreams, you need a good budget too and with the price of education rocketing up in the sky, it is a must to think for a financial jack. If planned on time, a child education plan can help your son financially, when he wants to pursue higher education in a renowned university in India or abroad.

When you decide to buy the best child education plan, you are sure to get confused seeing so many options available in the market. Each claims itself to be the best short-term investment plan, so which is the actual best child plan to buy for your son in India in 2022?

Worry not, we are here to help you choose the best child education plan for your boy child in India.

List of 10 Best Child Investment Plans for a Boy Child in India 2022

Securing your child’s future with a child-saving plan right from the moment he is born is probably the best thing you can do for him. The investment done in time will help your son to fulfill his dreams when he grows up and is about to get married.

The following list will help you shortlist the best investment plan for child future:

• Aditya Birla Sun Life Vision Star Child Plan

• Bajaj Allianz Young Assurance Child Plan

• HDFC SL Youngstar Super Premium Child Plan

• ICICI Pru Smart Kid’s Regular Premium

• Kotak Head Start Child Assure Plan

• LIC New Children’s Money Back Plan

• Max Life Shiksha Plus Super

• PNB Metlife Smart Child Plan

• SBI Life Smart Scholar Plan

• SBI Smart Champ Insurance Plan

1. Aditya Birla Sun Life Vision Star Child Plan: This one is a money-back plan from Birla Sun Life Insurance. It rewards the policyholder with a reversionary bonus and terminal bonus at the time of policy maturity.

Also Read: Why Should You Buy Aditya Birla Sun Life Term Insurance Plans?

Some of its features are:

• The minimum entry age is 18 years and the maximum entry age is 55 years.
• The maturity age of this child education plan is 75 years.
• This plan offers two options for periodic payments after completing 5 years, including one that is paid after every 2 years, and the other that is paid every year.

2. Bajaj Allianz Young Assurance Child Plan: Bajaj Allianz boasts of many child investment plans and one of them is the Young Assurance Child Plan that comes with an Accidental Permanent Total Disability Benefit.

Also Read: Best Health Insurance Plans of Bajaj Allianz

Some of its features are:

• The minimum entry age of this plan is 18 years, and the maximum entry age is 50 years
• This child plan is offered with term options of 10 years, 15 years, and 20 years
• There is a choice to pay the premium yearly, half-yearly, quarterly, and monthly

3. HDFC SL Youngstar Super Premium Child Plan: Buy this best investment plan for the child’s future from HDFC and gift him with life insurance coverage. This one is a united linked insurance plan designed by HDFC offering two flexible benefit payment options.

Some of its features are:

• The minimum entry age to buy the Life Option and Health Option of this plan is 18 years. The maximum entry age is 65 years and 55 years for Life Option and Health Option respectively
• This child education plan allows you to choose flexible payment to enjoy the benefits, including Save Benefit Option and Save-n-Gain Benefit Option
• It offers you four types of funds to meet your needs, including, Opportunities Fund, Balanced Fund, Income Fund, and Blue-Chip Fund

4. ICICI Pru Smart Kid’s Regular Premium: If you are looking for the best child plan for your son, do consider this one from ICICI Prudential. This is an interesting endowment premium plan with brilliant education benefits.

Some of its features are:

• The minimum entry age to buy this child plan is 20 years, and the maximum entry age is 54 years
• This plan offers an option to withdraw a partial amount, where about 120 to 170% of the premium paid annually is assigned to the whole fund value after 15 years of the policy
• It offers two additional rider benefits, including a disability benefit rider, and income benefit rider

5. Kotak Head Start Child Assure Plan: When considering buying the best investment policy for your child, do consider this one from Kotak Mahindra. It comes with a regular as well as a limited premium payment option.

Some of its features are:

• The minimum entry age for this plan is 18 years and the maximum entry age is 60 years
• This best child education plan allows you to withdraw partially after every 5 years. Moreover, it permits you with free annual changes with the funds four times
• You have an option to pay the premium yearly or half-yearly

6. LIC New Children’s Money Back Plan: This one is participating and non-linked money back plans from LIC. It is the best short-term investment plan that helps you plan for your child’s education, marriage, and other needs.

Some of its features are:

• There is no minimum entry age for this plan is but the maximum entry age is 12 years
• If offers a survival benefit without any time restriction anytime during the policy tenure
• It offers the LIC’s Premium Waiver Benefit Rider for the life insured aged between 18 to 55 years

7. Max Life Shiksha Plus Super: This plan from Max Life Insurance offers dual benefits of securing your child’s future, and offers protection through life insurance.

Some of its features are:

• The minimum entry age for this plan is 21 years, and the maximum entry age is 50 years
• It offers the insured to choose any of its five fund options to invest as a Dynamic Fund Plan or a Systematic Transfer Plan
• It allows two partial withdrawals after every 5 years and annual switches 12 times free of cost

8. PNB Met life Smart Child Plan: Offering guaranteed returns, this is an ideal child education plan for your son in India. It offers four different options for coverage.

Some of its features are:

• The minimum entry age for a parent and child is 18 years and 90 days respectively. The maximum entry age for a parent and child is 55 years and 17 years respectively.
• It offers insurance coverage for any form of eventuality that takes place with the life insured
• An option to choose from four different coverage plans

9. SBI Life Smart Scholar Plan: This is a non-participating ULIP or Unit Linked Insurance Plan from SBI. It offers two benefits of insurance and market-linked rent.

Some of its features are:

• The minimum entry age of this plan for a parent and child is 18 years and 0 years respectively. The maximum entry age for a parent and child is 57 years and 17 years respectively
• This best short-term investment plan offers tax benefits under Section 80C of the Income Tax Act
• It offers dual protection to the family of the insured in case of any eventuality

10. SBI Smart Champ Insurance Plan: This is the best investment plan for a boy child that aims to secure his child for educational requirements. It is a non-linked and participating life insurance policy.

Some of its features are:

• The minimum entry age for a parent and child is 21 years and 0 years respectively. The maximum entry age for a parent and child is 50 years and 13 years respectively
• It offers smart benefits in four installments, the moment your child turns 18 years
• The life insured in this plan is insured for life as well as against any accidental permanent disability and death case

The Conclusion

Besides the above-mentioned investment plans for a boy child, you may consider investing in a PPF account, SIP, or Debt Mutual Funds too. Remember, the best investment policy for your boy should be one that offers the best returns in the form of benefits for your child’s education in the coming years. Make sure to compare the features and benefits of different child-saving plans before investing in one for your son.