List of Child Investment Plans in SBI

Wondering how to create a strong financial foundation for your child? Child Investment Plans in SBI offer guaranteed returns, premium waivers, and flexible terms to achieve long-term goals. With annual premiums starting from just ₹40,000, these plans also provide tax benefits and consistent growth, making them an ideal choice for securing your child’s dreams.

Read on to discover how these plans can help you create a stable and sustainable future for your child.

Quick Synopsis

• SBI offers child plans with maturity, death, and waiver benefits.
• Premium terms range from 7 to 12 years; policy term up to 35 years.
• Plans offer tax benefits under Section 80C.
• Available online and at SBI branches.

The Best Child Investment Plans in SBI

Some of the best options offered by SBI for child investment are:

SBI Life - Smart Scholar Plus

Features

• Lump sum payout on maturity with guaranteed fund value.
• Future premiums are waived on the death of the life assured.
• Regular loyalty bonuses for active policies.
• Choice of 10 fund options for investment flexibility.
• Partial withdrawals are allowed from the 6th policy year.

Benefits

• The death benefit is the higher of the sum assured or 105% of the total premiums paid, along with the fund value at maturity.
• Additional payout for accidental death or permanent disability, except in single premium policies.
• Tax deductions are available as per the current income tax laws.

Eligibility

• Parent age between 18 and 50 years, with maturity up to 65 years
• Child entry age from 0 to 17 years, with maturity up to 25 years

SBI Life – Smart Future Star

Features

• Lump sum payout on maturity with sum assured and bonuses.
• Option to defer maturity payout or receive it in instalments.
• Premium waiver on death or accidental total permanent disability of the proposer.
• Tax benefits are available under the current income tax laws.
• Simple application and quick policy issuance.

Benefits

• Life cover for the child with guaranteed financial security.
• Premium payment terms of 7, 10 or 12 years.
• Insurance policy terms range from 15 to 25 years.
• The death benefit is higher than the sum assured, 11 times the annual premium or 105% of the total premiums paid.
• Additional cover for the accident and disability of the proposer.

Eligibility

• Proposer age between 18 and 65 years.
• Child entry age from 30 days to 15 years, with maturity up to 35 years.

SBI Life – Smart Platina Young Achiever

Features

• Guaranteed benefit ensures risk-free milestone planning for your child.
• In-built waiver of premium on death or accidental total permanent disability of the proposer.
• Option to defer maturity payout or receive it in instalments for up to 7 years.
• Tax benefits are available under the prevailing Income Tax laws. 

Benefits

• Reliable and transparent returns through guaranteed additions.
• Guaranteed additions accrue at the end of each policy year until the policy term.
• The addition rate varies by premium payment term and annualised premium.
• Maturity benefit includes the sum assured plus the accrued guaranteed additions.
• Death benefit is higher of the sum assured on death plus additions or 105% of premiums paid.

Eligibility

• Proposer age between 18 and 65 years
• Child entry age from 30 days to 15 years, with maturity from 18 to 35 years

Top 4 Advantages of Child Investment Plans in SBI

1. Financial Security: In the event of the policyholder's death, a lump sum amount is provided to secure the child's future needs, including education, marriage, and other expenses.
2. Tax Advantages: Premiums paid are eligible for deductions under Section 80C of the Income Tax Act, as per current tax laws.
3. Additional Protection: Riders such as critical illness, accidental disability, or waiver of premium can be added for enhanced coverage.
4. Maturity Payouts: On plan maturity, the accumulated benefits can help fund your child’s long-term goals and aspirations.

Documents Required to Buy an SBI Child Plan

1. Completed application form of the chosen plan.
2. KYC of the applicant.
3. Recent photographs of both the child and the applicant.

Steps to Buy Child Investment Plans in SBI

You can buy child investment plans in SBI both through online and offline modes.

1. For Online

• Visit the official SBI Life Insurance website.
• Use the SBI child investment plan calculator to estimate premiums and benefits.
• Compare different child plans and select the one that suits your goals.
• Apply online by filling in the required details and paying the premium to start your policy.

1. For Offline

• Visit the nearest SBI branch.
• Consult an SBI advisor for guidance.
• Choose a suitable child investment plan.
• Calculate benefits and premium estimates.
• Complete the purchase by paying the premium at the branch.

Child Investment Plans in SBI provide a blend of guaranteed returns, life cover, and tax benefits to secure your child's future. Flexible premium terms and maturity payouts make them ideal for meeting long-term financial milestones.

However, if you are planning for any short-term financial goal, such as saving for a trip or buying a new phone, consider investing in a recurring deposit on the Stable Money App. It is a safe and disciplined way to grow your savings over time.