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Why Do I Need a Child Plan? - HDFC Life

March 23, 2017

Parenting these days is much more challenging than what it was a few decades ago. There is immense pressure on parents to perfect the art of parenting to bring out the best in their child. The good news is that both mom and dad are equally involved, which makes sure that every little detail is taken care of. One such critical detail, where both parents have to step-up their game is financial planning for the child. The biggest challenge for parents today is to muster the finances to match the mounting costs of education and marriage. With children taking to hobbies like music and art as alternate careers, parents have to shell out a lot more on their children than the previous generation.

Not just education, everything comes at a steep price tag, be it the wedding that you dreamed of for your child or a new house or a car for him or her. While your child is doing his or her best, it may not guarantee a successful future unless you have planned to meet these needs. 

The saving grace is that you can now count on a child education plan  from HDFC Life to build a decent corpus over a period of time to provide your child a secured financial future. You can now choose from both Unit Linked and Traditional Insurance Plans according to your needs.

It is always a great idea to celebrate happy moments with important decisions - such as investing in jewellery or property around festivals. Similarly, wouldn't it be great if you celebrated your little one's Birthday this year with a life insurance plan which will ensure that the smile you put on her face stays like that forever! Moreover, it will act as a reminder every year and ensure you invest in a disciplined manner for your child's financial future.

What Are Child Plans?

A child insurance plan provides life cover to the parent while also allowing them to invest and grow their wealth for their child’s future. These plans provide flexible payout schemes and often provide small sums whenever your child reaches a significant milestone in their life. A children’s plan allows you to save up for your child’s future and make regular investments as well.

Why Is Investing in Children’s Plans Important?

It is heartbreaking to think about a time when you cannot physically be there for your child. None of us know what life has in store for us, so it’s crucial that you plan for every circumstance. By investing in a child investment plan, you can safeguard your child’s financial future. You can start investing today to build a corpus that they can use to fulfil their dreams.

Tips to Choose the Best Child Insurance Plan

We’re sure you want nothing but the best for your child. You can find the best plan for them by following these tips:

Prepare Early

Plan your finances and investments for your child right from the time they are born. Ideally, find plans that provide payouts when they are 18 or 21, so that they can use the funds to finance their dreams.

Look for Premium Waivers

When you buy a child insurance plan, you need to consider policies that offer a waiver of premiums. If you opt for this, your policy will continue even if something happens to you.

Consider Inflation

When you’re planning for the future, you must safeguard your finances against the adverse effects of inflation. Find a policy that offers higher returns that the expected rate of inflation.

How Does the HDFC Life Child Plan Work?

At HDFC Life, we offer three plan options that you can choose from to meet your child’s financial goals. Based on the plan you opt for you can receive payoutsat the end of each year that will help you meet your child’s financial requirements. If anything were to happen to you, your child will still be taken care of, so you can rest easy knowing that nothing will come between your child and their aspirations.


Every parent does their best to safeguard their child’s financial future. With HDFC Life Child Plans, you can build up a corpus for your little one to rely on when they’re older. You can plan for several contingencies and ensure that your child always has the money they require to achieve their dreams.

ARN – ED/01/22/27014

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HDFC Life Insurance Company Limited. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.

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