Best Education Insurance Policy in India

1. What is the primary objective of the policy?

• Clarify whether the policy is designed to fund the child’s education in case of the policyholder’s demise or if it combines insurance coverage with savings components for education-related expenses. 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 waiver of premium in case of the policyholder’s demise or critical illness riders. These add-ons can provide extra layers of protection for your child’s education fund.

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

• If considering an investment-linked education 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.