Max Life Insurance Child Plans

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As a parent, nothing is more important than securing a bright future for your child. Max Life Insurance understands the value of your child's dreams and aspirations. This is the reason why they offer a range of comprehensive child plans designed to provide financial security and meet your long-term goals. This article will explore the benefits, features, and different types of child plans offered by Max Life Insurance.

Max Life Insurance Child Plans

Max Life Insurance offers specially created child plans to meet the financial needs of your child at different stages of his life. These plans provide financial protection in case of any unfortunate event and ensure a systematic savings approach for their education, marriage and other important milestones.

Key Features of Max Life Insurance Child Plans


Life insurance protection

Your child will receive a lump sum payout in case of her death, which can be used to cover funeral expenses, pay off debts, or provide for their future education and living expenses.


Investment options

You can choose from various investment options, including equity funds, debt funds, and hybrid funds. This lets you choose the investment option that best suits your risk tolerance and investment goals.


Tax Benefits

Child plans offer tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961, providing additional savings on your premiums and payouts.


Savings and Investment Component

These plans provide life coverage and investment opportunities to build a corpus for your child's future needs.


Systematic Savings

Investing in a child plan can create a disciplined savings habit, ensuring funds are available at key milestones in your child's life.

How to Choose the Right Max Life Insurance Child Plan

When choosing a Max Life Insurance child plan, you should consider a few factors, including:

  • Your child's age
  • Your risk tolerance
  • Your investment goals
  • Your budget

The younger your child, the lower the premiums will be.

If you are comfortable with risk, choose an equity-based plan. If you are more risk-averse, choose a debt-based plan.

How much money will you save for your child's education? When do you want to start saving?

How much can you afford to pay monthly premiums?

Benefits of Max Life Insurance Child Plans

  • Life Coverage

    Child plans offer life coverage, ensuring that your child is protected financially in the event of your untimely demise.

  • Maturity Benefits

    These plans provide a lump sum amount at the maturity of the policy, which can be used to meet your child's educational or career needs.

  • Premium Waiver Benefit

    If the policyholder dies, the future premiums are waived, ensuring that the policy remains active and the child receives the benefits.

  • Flexibility

    Max Life Insurance child plans offer flexibility regarding premium payment options, policy tenure, and payout options.

Child Plans Offered By Max Life Insurance

Max Life Insurance offers a range of child plans to suit the diverse needs of parents and their children. Let's explore some of the popular options:

Max Life Future Genius Education Plan

This plan is designed to secure your child's education by providing financial support at different stages of their academic journey. It offers flexible payout options, ensuring funds are available for school, college, or higher education expenses.

Product Benefit

  • Death Benefit: If the policyholder dies during the policy tenure, the beneficiary/nominee will get the following:
    • 11 times of annualized premium
    • 105% of all premiums paid up to the date
    • Guaranteed sum assured benefit
  • Maturity Benefit: On maturity of the plan, you will get the following benefits:
    • Terminal Bonus
    • Cash Bonus (If any)
    • Accrued Paid-up Additions
    • Paid-up Additions Withdraw Options
    • 25% of the Sum Assured in the last 4 years of the policy
  • Additional Riders :
    • Max Life Term Plus Rider
    • Max Life Accidental Death & Dismemberment Rider
    • Max Life Waiver of Premium Plus Rider

Max Life Shiksha Plus Super

A unit-linked insurance plan (ULIP) offers the dual benefit of investment and life coverage. This plan allows you to choose from various investment funds to grow wealth while safeguarding your child's future.

  • Product Benefit :
    • 11 times of annualized premium
    • 105% of all premiums paid or Policy Term x 0.5 x annualised premium
    • 10% of the sum assured amount on each policy anniversary
    • Funding of premium benefit
    • Various Fund Options
    • Maturity benefit
    • 0.2% of the fund value at the end of each year from the 11th policy year
    • Tax Benefits

Max Life Insurance Child Plans Buying Process

You can buy Max Life Child plans through two platforms, i.e., from the official website of Max Life Insurance or Below we have explained the buying process in detail:

Buy from the Official Website

  • Visit the official website of “Max Life Insurance”.
  • Click on the “Child Insurance Plan” tab from the footer menu.
  • Then, select the “Invest Now” button.
  • Enter the required details, such as name, date of birth, gender, etc., and click on “Check Plans”.
  • Select your desired plan and make the payment
  • Now select the payment mode such as Credit Card, Net Banking, UPI, etc.
  • Make the payment and enjoy the benefits of the Max Life Insurance Unit Linked Insurance Plan.

Buy from

  • Visit the official website of “RenewBuy”.
  • Click on the “Life Insurance” tab.
  • Go to the “Life Insurance Companies” section.
  • Select the “Max Life Insurance” company from the list.
  • Scroll down and select the “Child Plan” section
  • Click on the “Buy Now” button
  • A pop-up will show you the plan details and the additional rider information.
  • Click on the “Proceed to Buy” button.
  • Make the online payment, and the policy documents will be sent to your registered email address.