Best Child Insurance Policy in India

1. What is the primary objective of the policy?

• Clarify whether the policy is primarily an investment plan, providing returns for your child’s future education or other needs, or if it combines insurance coverage with savings components. Understanding the primary goal will help you choose a policy that aligns with your financial objectives.

2. What is the maturity benefit and payout structure?

• Examine the maturity benefit provided by the policy, including the lump sum amount or periodic payouts at different stages of your child’s education. Some policies may offer flexibility in choosing payout options based on your child’s specific milestones.

3. What are the premium payment terms and frequency?

• Understand the premium payment terms, including the frequency (monthly, quarterly, or annually) and the duration of premium payments. Consider policies that offer flexible premium payment options based on your financial capabilities.

4. Does the policy offer additional riders or features?

• Explore any additional riders or features that can enhance the coverage, such as accidental death benefits, critical illness riders, or waiver of premium in case of the policyholder’s demise. These add-ons can provide extra layers of protection.

5. How is the fund performance in investment-linked policies?

• If considering an investment-linked child insurance policy, evaluate the historical performance of the funds associated with the policy. Analyze the risk-return profile and the reputation of the insurance company’s investment management.