As a parent, being there for your child and enabling them to achieve their dreams, matters! That’s exactly what a good ULIP child investment plan does for you – provide the financial protection your child needs, with or without you being around. With a ULIPs at Finserv MARKETS, enjoy benefits that include free life cover, tax exemption, and the liberty to invest in funds of choice.
A ULIP child education plan ensures that the force of inflation or any unforeseen event does not hinder your child’s education. These are investment plans that specifically cater to your child’s education. In a child education plan, you get the dual benefit of saving and protection. You can invest in a child education plan based on your child’s education needs, your financial capability and other monetary goals and use the fund through partial withdrawal. Moreover, you also enjoy tax benefits on the same.
Propelled by inflation, educational costs in India are on the rise. Surveys reveal that by 2025 the cost of studying in an engineering college will be nothing less than 30 lakhs while getting an MBA degree will set one back by 50-60 lakhs. Moreover, with middle-class families spending 60% of their monthly earnings on educating their child/children, having a child investment plan in place is a necessity.
With ULIP plans, policyholders enjoy the benefits of an investment as well as an insurance plan. This child investment plans that you opt for provides the protection your child needs, more so in your absence. Even in the case of an eventuality, rest assured that your child’s future is taken care of with a good ULIP plan.
Though small in terms of amount, your regular investments when compounded will grow into a handsome amount upon maturity. This corpus of funds will help ease the financial burden when it comes to making university tuition fees and other charges involved when studying abroad.
Surveys conducted across the globe show there are more than 1 million students and their families debt with a staggering $1.56 trillion in student loan debt. Not only are ULIPs a great investment option but regular savings will prevent one from falling in to debt by option for loans with exorbitant interest rates.
With ULIP tax benefits, it is the best investment option before one. Right from the initial investment until maturity, the Income Tax Act of 1961 has exempted ULIP plans under section 80C, 80CCC and 80CCD. Save now and secure a bright future for your child.
Child plan is an investment cum insurance plan which can help secure your child’s future financially. With a child plan, you can create a corpus to fund your child’s marriage and education. A child plan gives you dual benefits. On one hand, in the event of the death of the insured, a sum assured is given to the child. While on the other hand, it also provides you financial security, as you can use the fund through partial withdrawal facility to finance the important milestones of your child’s life.
As per the eligibility criteria of a child ULIP plan, you can invest when you fulfill the minimum and maximum age requirement given in the policy document. Moreover, you should be within the age range required by the policy terms and conditions at the time of the maturity of the policy too.
As per Morning Star, ULIP funds at Finserv MARKETS enjoy good ratings with approximate returns as high as 25% over a 5-year investment period.
With approximately 2,00,000 crores held in terms of Assets Under Management (AUM), know that your ULIP investments are among the best in the market.
Under the Income Tax Act of 1961, ULIPs are tax-free investments. As a customer, you needn't pay any tax during investment, while your money grows, during fund switches or during maturity.
With ULIPs at Finserv MARKETS, policyholders do not have to pay any charge when allocating funds. Neither are there any return of mortality charges levied.
Policyholders enjoy the flexibility of choosing between 4 investment portfolio strategies thus helping one plan better for higher ULIP returns.
Child Education & Insurance Plans: Buy Bajaj Allianz Child Plans available on Finserv MARKETS to secure your child's future and education. ULIP Child Plans offer tax benefits, life insurance and market linked returns. Get a free quote today!
While applying for a child ULIP plan you will need to submit the following documents with the insurance company:-
Income proof that could be salary slips, income tax returns, bank statement etc.
Address proof – any one of the following: Driving License, Aadhar card, Voter id card, passport, etc.,
Identification proof like PAN card, Aadhar card, voting card, etc. and
Age proof like Aadhar card, voting card, passport, driving license, etc.
Finserv MARKETS also offers ULIP Plans for investments and retirement planning.
Our pension plan helps you to save for your retirement in a smart way. Also, our investment plan enables you to get good returns in the long run.
Being a parent, it is vital that you efficiently plan your finances to provide a secure future for your child. This is where a child investment plan comes into play. It provides you with a host of other benefits including a life insurance cover, coverage for family in your absence (death cover), and building a fund/corpus to help you meet your financial goals. Whether it is your child’s education, marriage or other important life events, Bajaj Allianz child plans can help you plan your investments and realise your dreams.
The term ‘Nominee’ refers to a person whose name has been nominated by the policy holder, authorizing him/her to take the proceeds of the policy after the death of the policy holder. It is then the responsibility of the nominee to disburse the proceeds as instructed amongst all legal heirs. The term ‘beneficiary’ refers to an individual who displays financial interest towards the policy holder. This could either be a legal heir of the policy holder or a bank/financial institution that has earlier provided loans/financial assistance to the policy holder.
Yes, they do. As a matter of fact, life insurance policies are used as a tax planning tool by policy holders. The policy holder here can save on taxes under sections 80C, 80CCC of the Income Tax Act of 1961. However, the limit for the same is set at Rs. 1, 50, 000.
Parents, grand-parents and legal guardians of the child can buy a child life investment plan. Bajaj Finserv has partnered with Bajaj Allianz to provide some of the best child investment plans to our customers. Now get all the information you need about Bajaj Allianz child plans online. Visit www.bajajfinservmarkets.in to know more.
When you opt for a Bajaj Allianz child investment plan online, you are given the option of premium waiver or payer benefit. If the policy holder passes away then, the insurance provider steps in and takes up the responsibility of all the future premiums of the child investment policy.
Sure, you can make partial withdrawals from the fund to meet any financial emergencies. You can make lump sum withdrawals after having completed 5 policy years provided that the life assured is no less than 18 years old.
The ULIP child education plan has helped me secure my child’s future. Now, I don’t have to worry about financing my kid’s higher education. All thanks to ULIP child plan.
Posted on 18 Nov 19
By purchasing the ULIP child plan I could also provide life insurance cover to my child. Thanks to Bajaj Allianz ULIP Plan, my child will be able to realize his dreams.
Posted on 19 Nov 19
I am happy to have purchased ULIP child plan available on Finserv MARKETS. The application process was smooth and the documents required were minimal.
Posted on 2 Jan 19
When I was looking for an investment option to support my child's further educational expenses, I came across the child education plan on Finserv MARKETS. The plan was an ideal investment tool and getting it through the platform was also very easy.
Posted on 06 Feb 20
When my first child was born, my friend suggested to me the ULIP Child Plan. Benefits like option to customize my investment as per my risk appetite and flexibility to switch funds caught my eye. Thank you Finserv MARKETS.
Posted on 10 Mar 20
When my child turned 15, I decided to keep enough funds for his higher education and future expenses. This is when I came across the child insurance plan which not just gave me an opportunity to gain higher returns but also save on taxes. All I had to do was, visit the Finserv MARKETS platform and follow the process and that was it!
Posted on 24 mar 20
With the rising expenses, my child’s education expenses kept worrying me. This is when, I came across ULIP child plan online. The plan would help me save up for my child’s future expenses and manage inflation better. Awesome product!
Posted on 02 Apr 20