SBI Life Insurance Child Plan

SBI Life Insurance Company is one of the top leaders in the life insurance industry in India and a joint partnership between the country’s major bank State Bank of India and BNP Paribas Cardiff, a renowned company in the insurance business. With a wide range of products available at affordable prices thereby giving complete financial protection, SBI Life undoubtedly has become a reliable and most chosen insurer in India. If you are looking for an all-inclusive child insurance plan, SBI life insurance for a child plan can be your first choice. SBI Life understands your concern about your children and their future and therefore offers plans which are affordable, flexible and trustworthy.

SBI Life Insurance Plans can largely be classified into the following segments:

1. Plans for Individuals
2. Plans for Groups
3. Online Plans

Under the Individual Plans, there are several other sub-categories of plans which the company offers namely:

1. Protection Plans
2. Savings Plans
3. Child Plans
4. ULIPs Plans
5. Pension Plans
6. Money-Back Income Plans

We will take you through the Child plan for you to understand the details about SBI life insurance for the child plan.

SBI life Lnsurance Child Plan

With the rising cost of living in every sphere of life, you must be prepared with every uncertainty. And, needless to say, that every parent would want to give the best of education to their children, a well-organized marriage, etc. And to do all these, you must be financially strong enough to have a smooth flow. This plan is specially tailored to meet these kinds of future expenditures. SBI life insurance Child Plan gives a perfect scope to build a strong financial corpus for the child. Another added advantage is that you can avail of tax exemptions under section 80 (C). Now, let us see the plans available under SBI life insurance for Child Plans.

SBI Life Smart Champ Insurance Plan

A unique SBI life insurance for child plan which is traditional, participating as well as a non-linked child insurance plan which secures your child’s education after he or she attains 18 years of age. The plan offers complete security and keeps your family protected from all unforeseen financial burdens with trust to secure the future of your child. Let us see the benefits:

1. The plan offers the advantage of 4 equivalent yearly instalments, being paid between 18 years till the 21st year of your child.
2. The option of paying a premium at one go or various other modes of payments as stated below in the table
3. Manifold protections like the sum assured is paid immediately with the facility of waiver of premium and without any disturbance in paying bonus amount, in case of any unfortunate incident
4. The plan provides full coverage of life as well as Accidental Total Permanent Disability or ATPD for the entire term of the policy
5. The plan also offers Terminal Bonus which is paid together with the last payment

Now let us see the eligibility criteria for SBI Life Smart Champ Insurance Plan

Eligibility

SBI Life Smart Scholar Plan

Another SBI life insurance for child plan which is a Unit-Linked and non-participating plan and is designed for the future growth of the child. You can enjoy the four benefits together of complete protection to accomplish the child’s dreams, dependability of waiver of premium, flexibility to switch funds and liquidity. The key benefits are:

1. A Smart SBI life insurance for Child Plan offers a lump sum amount on the maturity
2. In case of any unfortunate death, waiver of premium will be applicable
3. The option of partial withdrawal from 6th year
4. According to the risk appetite, one can choose from 9 different funds for investing in the market
5. Continuous loyalty addition
6. Availability of Maturity and Death benefits in the plan

Now let us see the eligibility criteria for SBI Life Smart Scholar Plan

Eligibility

Have you started preparing for your children’s higher education? If not, start right now and avail of SBI life insurance for child plans. With a strong SBI life insurance for child plan, you can now be tension free from the uncertainties and worries in life to a great extent. Protecting your child’s future and securing their dreams will make and your family to have a stress-free life.