Kotak Life
Close

Buy a Life Insurance Plan in a few clicks

Close

Now you can buy life insurance plan online.

Kotak e-Term Plan

Kotak e-Term Plan provides a high level of protection to your loved ones in your absence. Know more

Kotak Guaranteed Savings Plan

Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and provides an insurance cover against any eventuality. Know more

Kotak E-Invest

Kotak e-Invest plan is a complete Unit-Linked Insurance Plan that can be customized as per your goals and needs. Know more

Kotak Health Shield

Kotak Health Shield Plan helps secure your finances in sudden medical expenses such as Cardiac, Liver, Neuro, and Cancer (all early and significant illness stages/conditions of cancer), along with offering protection for personal accidents - in case of accidental death or disability. Know more

Kotak Lifetime Income Plan

Kotak Lifetime Income Plan gives you the security of your income continuing throughout your life and in your absence throughout your spouse's lifetime! Know more

Which are the Best ULIP Plans in India for Children?

Which are the Best ULIP Plans in India for Children?
  • 15th Apr 2022 |
  • 3,945

Securing your child’s future is the main concern you face as a parent. Given the exponential increase in the cost of living and financial requirements with time, you are deeply vested in finding the right solution for securing your children’s financial needs.

ULIP child plan is a financial tool that can help you eliminate this woe. When you opt for a ULIP for child plan, you ensure that they benefit from both life insurance and the financial market. This will help you keep up with market inflation and, at the same time, will support them in fulfilling their dreams of education or other important requirements in the future.

Also, since so many financial tools are available in the market, choosing the right one for your child’s future is quite tricky. Moreover, as you are not aware of the future and the kind of financial requirements that might occur to fulfil their needs, it is important to make the right choice that can serve your child’s future goals in their most crucial time.

This article will highlight how to identify the best ULIP plan for children? And we will also highlight the benefits of the ULIP child plan and why you should opt for the child ULIP plans.

Why do we need a ULIP for child?

ULIP child plan is a financial tool that can support your child in case of any unfortunate event and ensure that their basic needs are served before they are old enough to take responsibility. By investing in an ULIP plan for your child’s future, you can provide for their cost of living, including education and some other basic needs.

  • Helps in providing basic facilities to your child in case of your absence
  • Pays for your child’s education
  • Secures your child’s future
  • Adds the facility of life insurance to the benefit of investment
  • Allows partial withdrawal of funds as per the policy terms

Your child is entitled to receive either a lump sum or regular payments based on the ULIP policy terms and guidelines. This is a major reason why a parent should do their research before choosing the best ULIP child plan in India.

How to identify the best ULIP plan for children?

Choosing the best ULIP plan for your child can be tricky. So you must decide very wisely after considering all the factors that might impact the future and thus invest accordingly. Various types of ULIP plans are available in the market that have some major to minor differences in their policy guidelines and offerings. More or less, most of them give you a vivid portfolio of funds to choose from. Still, you also have to check their performance in the past and consider other factors like additional charges and the cost of switching the funds, among many other factors.

Top features of the best ULIP child plans in India

As stated above, picking the best ULIP plan for a child in India from a pack of multiple ULIP plans for children can be tough for parents. However, some of the top features you must look for while picking up a ULIP for child are:

  • Joint life cover
  • Death and maturity benefit to the beneficiary
  • Tax exemption on premium payment and maturity benefits
  • Diverse fund options (portfolio) to choose from
  • Multiple free fund switching and minimal switching cost post utilization of free ones
  • Auto rebalancing
  • Loyalty bonus and other bonuses, etc.

As a parent, you should go through deep research and read the ULIP policy guidelines carefully before opting for a policy from an insurer and check all the costs and benefits involved. The features mentioned earlier are the must-haves in child ULIP plans to be considered the best ULIP child plan in India.

Kotak e-Term Plan

Features

  • Nominal Cost
  • Multiple Plan Options
  • Flexible Payout Options
  • Critical Illness Rider
  • Tax Savings
  • Long term Coverage

Ref. No. KLI/22-23/E-BB/492

T&C

Browse our library of resources

- A Consumer Education Initiative series by Kotak Life

Similar Articles

Is There Any Tax Benefit on Term Insurance?

Can A Housewife Buy a Term Insurance Plan - All You Need to Know

6 Reasons That Make Term Insurance a Must Buy

Are The Add-ons and Optional Features of Term Insurance Plans Actually Beneficial?

10-Year Term Life Insurance Policy - Explained in Detail

Why Term Plan Should Be The First Step To Securing Your Future?

Do Beneficiaries Pay Taxes on Term Insurance?

Is a Term Insurance Policy Portable?

Should You Have Multiple Term Life Insurance Policies?

Choosing Riders for Insurance Plans

8 Factors to consider before choosing a Critical Illness Insurance

Term Insurance: What Happens When You Don’t Pay Your Premiums?

Which Term Insurance to Choose: Lump Sum or Staggered Pay-out Plan?

Why Term Insurance Is Better Than ULIP?

Why Buying a Term Plan Is Smarter Than Traditional Life Insurance Products

Increasing Term Insurance and Riders

Why Buy Term Insurance Plan With a High Cover?

What is a Joint Term Insurance Plan? Key Benefits of Joint Term Plan

8 Things To Do After Buying Term Insurance

Ideal Features of a Suitable Term Plan - Act Now for a Stress-free Future

Which Death Type Does Your Term Plan Not Cover?

Tips to Choose the Right Term Period for Term Insurance Plan

Why Should You Buy Term Insurance in 2022?

Can Non-Resident Indians (NRIs) Buy Term Insurance In India?

Top 3 Reasons Why You Should Buy A Term Plan Now

What is Term Insurance - A Complete Guide

Can You Increase Your Term Insurance Cover?

Is It Good To Buy A Term Insurance Plan In 2022?

Can I Extend the Tenure of My Term Insurance Plan?

What Should You opt for - Limited or Premium Pay?

Eligibility Criteria for Buying Term Insurance in India

4 Methods to Calculate How Much Term Insurance You Need

Term Insurance Plans and Policies for Smokers

Why does every working woman need life insurance?

Term Insurance: Smokers vs Non-Smokers

5 Benefits of Early Retirement Planning

What Is a Passive Income? Why Should You Use It to Buy a Term Plan?

Why is it important to buy term insurance plan?

How to Ensure That Your Term Insurance Claims Are Never Rejected?

What Happens if you Hide Facts in your Term Insurance?

Does Your Term Insurance Plan Cover Death Due to COVID-19?

5 Reasons to Buy Term Insurance When You are in Your 30s

While Buying Term Insurance Compare Features, Not Just Premiums

When is the Right Time to Buy Term Life Insurance Policy for Yourself?

Make Your Online Term Plan Your Familys Monthly Payout

What Types of Deaths Are Covered in a Term Insurance Plan?

Term Insurance with Critical Illness

Term Life Insurance Plan for Smokers vs Non-Smokers

Individual Life Insurance vs. Group Term Life Insurance

What Happens to Term Insurance Plan With No Beneficiary - Kotak Life

Why Term Insurance Is Important in times of COVID-19?

How to Identify Term Insurance According to Your Needs?

Do You Need Term Insurance Cover After Retirement?

Advantages & Disadvantages of Term Insurance in India

What is Form 16, Form 16 part A, Form 16 part B, Information Required and FAQs

Term Insurance – Why You Must Include In Your Financial Planning?

What are incremental term insurance plans?

Is Group Term Life Insurance Provided By Employer Sufficient?

Everything About Claim Settlement Ratio for Term Insurance

How Much Term Life Insurance Cover Do I Need in India?

What is a short term insurance policy?

Does Term Insurance Cover Accidental Death?

How to Compare Term Insurance Online

How To Calculate The Amount Of Term Life Insurance You Need?

Is Term Life Insurance Plan an Investment or Expense?

What is Insurance Premium - A Detailed Guide

What Are Insurance Riders and How to Choose Them in a Term Plan?

Different Types of Premium in Term Insurance

Calculating Term Insurance Premium

Endowment Plans vs Term Plans: Understanding the difference

Key Differences Between Term Insurance, ULIPs, And Health Insurance

Why 1 Cr Term Plan Is Necessary For Family?

8 Benefits of Term Insurance You Should Know

How Much Cover Should I Take In A Term Plan?

5 Things To Consider While Buying Term Insurance Plan

6 Types of Death not covered in Term Insurance Plan

Can Senior Citizens Avail Term Insurance?

How To Change The Nominee in Term Insurance?

Advantages of Buying Term Insurance in Your 50s

What Is a Renewable Term Insurance Policy?

Do I Need to Give a Medical Test for Term Insurance in India?

How Does Term Life Insurance Work? Learn the Benefits

Term Insurance Basics You Should Know

Can Term Insurance Plans Be Purchased As A Gift?

Different Types of Protection Plans

Protection for your family

What All Documents Required For Term Insurance In India?

What are the Documents Required for Term Insurance Plan?

Why Should You Not Take A Term Plan Without Medical Test in India?

How To Choose the Right Term Insurance Plan?

Insuring Protection Against Death With Death Insurance Rider

How to Surrender Term Life Insurance When you have No Liabilities

Make Your Online Term Plan Your Family's Monthly Pay Cheque

What Is the Correct Age to Buy Term Insurance?

Can I Get Term Insurance on Behalf of My Spouse?

Term Vs. Whole Life Insurance: Which One You Should Buy in India?

What Should Be The Duration Of Your Term Plan in India?

Why Married People Should Buy Term Insurance Under MWP Act?

9 Ways to Help Family Members in Financial Trouble

Term Insurance Calculator - Everythng You Need To Know

Buying A Term Insurance? Don't Ignore the Claims Settlement Ratio

4 Things To Expect From Your Term Insurance Plan in India

Can I Buy Term Insurance for a COVID-19 Patient?

Gift Your Father A Term Insurance Plan This Father's Day

Insuring yourself against Ill Health with a Critical Illness Rider

5 Term Insurance Benefits for Single Women

What is the Right Term Period For Term Insurance Policy? Here's How You Should Choose!

Ensure Protection Against Death, Disease & Disability With Life Insurance

Is it a Good Time to Buy Term Insurance During the COVID-19 Pandemic?

Term Insurance Age Limit – Term Plan for All Age Groups

Should Youngsters, Working Couples Buy Term Insurance Plans?

Term Plans are Definitely Cheaper than You Think!

Why Should New Parents Buy Term Life Insurance?

Why Should You Add a Rider to a Term Insurance Plan?

Term Plan with Spouse Cover

Understanding Term Insurance Riders

Is Life Insurance Investment Worthy Enough

Planning For Children's Future

Can I Make Changes to My Term Insurance Policy Post Purchase?

What Are the Best Term Insurance Plans for Planning Retirement?

Tax Benefits of Term Insurance in India

Term Insurance With Riders In India

Why Surrendering Your Term Plan Policy In The Final Phase Maybe A Bad Idea?

How Not To Get Your Term Insurance Claim Rejected

Insurance Policy for Housewife In India

What is Critical Illness Policy

Insuring Against Disability With Disability Insurance Rider

Steps on How to Buy Term Insurance Online

Why Buy Term Insurance Even at Rising Rates?

Buying A Term Insurance Plan? Take These Factors into Account

Planning For Son or Daughter's Wedding

How Much Term Insurance Do I Need

Is term Insurance Needed for People With No Dependents?

Key IRDAI Regulations That Changed Face Of Term Insurance Industry In 2020

Best Investment Plans for Children - Secure Your Child's Future

Importance of Term Insurance at Every Stage of Your Life

टर्म इंश्योरेंस क्या है? टर्म इंश्योरेंस का मतलब

Comparing Term Plans – What Should You Look Out For

Know How to Invest at Every Age for Larger Returns

All About Term Insurance Inbuilt Coverage

Cost of Term Insurance Likely to Increase Soon

Should You Buy a Term Plan After 40?

How to Buy 1 Crore Life Insurance Policy Without Medical Test

Is ₹1 Crore Term Insurance Good Enough Cover?

Insuring Against Accidents with an Accidental Death Insurance Rider

4 Reasons Why You Need Critical Illness Cover

All you need to Know about Term Insurance Plans for Housewives

Online vs Offline Term Insurance: Which Is The Better Option To Buy

Why should single women purchase term life insurance?

How To Choose the Right Sum Assured Under a Term Plan?

How Does A Term Life Insurance Work in India?

9 Most Frequently Asked Questions on Term Insurance

Why Premium Amount for Term Insurance is So Low?

Term Insurance: Most Common Term Insurance Myths Explained | Kotak Life

Busting Myths and Facts About Term Insurance Policies

Reasons You Need Term Insurance Plan as a Self-Employed Person

Difference between Term Insurance and Life Insurance