LIC Child Insurance Plans in Ulwe, Navi Mumbai
School fees rise every year, and a professional degree can cost many times what it did a decade ago. A child plan helps you put money aside in a disciplined way so it's ready around the years your child needs it — while keeping the family protected along the way.
Start with three numbers
- Your child's age today
- The year money will be needed (Class 11, college, post-graduation)
- A monthly or yearly amount you can set aside comfortably
Planning for Your Child's Education With LIC
Ulwe has a lot of young families — parents in their late 20s and 30s, children in pre-school or primary classes, and a home loan running in the background. That's actually a good time to start. The earlier you begin, the smaller the yearly amount needed to reach the same goal.
Two ways to approach it
Some LIC plans are designed specifically for children, with the policy built around the child's age and benefits timed to education years, subject to plan terms. Others are regular endowment or money back plans on a parent's life, with maturity or survival benefits chosen to line up with the year the money will be needed. Both can work; the right choice depends on who should be insured and when payouts are needed.
Protect the parent first
The biggest risk to a child's education fund isn't the plan — it's the earning parent's income stopping. Before putting money into a savings plan, it's worth checking that you have enough term cover. Some child-oriented plans also offer a premium waiver benefit rider, which can keep the policy going if the proposer (usually a parent) dies during the term — availability and cost depend on the plan and are subject to LIC's terms.
Matching payouts to milestones
- Class 11–12 and coaching fees, around age 15–17
- Undergraduate admission, around age 17–18
- Post-graduation or study abroad, around age 21–23
We'll map these years against the plan's policy term and benefit schedule so the money arrives when it's actually needed, not two years late.
A realistic expectation: traditional LIC plans prioritise safety and discipline over high growth. For a large goal far in the future, you may want to combine a child plan with other savings. I'll be honest about what a plan can and cannot do.
Before You Choose a Child Plan
Run any plan you're considering through these points.
| Ask | Why it matters |
|---|---|
| Whose life is insured — the child's or the parent's? | Decides what happens to the plan if the parent dies |
| When are benefits paid out? | Should match the actual education years |
| Is there a premium waiver option? | Can keep the policy going if the proposer isn't there |
| How long must premiums be paid? | Must be affordable alongside your EMI |
| What is guaranteed and what depends on bonus? | Sets a realistic expectation of the final amount |
Please note: LIC plan benefits, premiums, eligibility and applicable terms depend on the specific plan and prevailing LIC rules. Please verify the latest details and policy terms before making a decision.
Official LIC website →LIC Child Plans – Questions From Parents in Ulwe
What parents usually ask before starting an education plan.
As early as you comfortably can. Starting when the child is young gives more years to build the fund and usually keeps the yearly premium lower for the same goal.
Not on its own. A child plan is mainly for saving towards a goal. The earning parent should also have adequate term cover so the family is protected if income stops.
It depends on the plan and any riders chosen. Some plans or riders waive future premiums so the policy continues for the child, as per LIC terms. We'll check this feature for any plan you consider.
Yes, many parents do, by choosing a term that matures around the education year. We can compare that with child-specific plans for your situation.
Get Child Plan Details
Tell me your child's age and the goal. We'll work out a plan that fits your budget.