- About Coverfox
Parenthood is a very joyous phase of life but it surely comes with utmost responsibility towards your children. Nurturing children and looking after their needs requires a foolproof planning as financial need will arise at every stage of raising up your children. Undoubtedly proper financial planning is an inevitable part and SBI Life understands the importance of building a financial corpus. Availing SBI Life Child Plan will help you in building corpus needed for education, emergencies, marriage etc. Thus buying an SBI Life Child Insurance Plan is a smart financial decision that helps you in securing the future financial needs of your children.
Product Benefits: SBI Life Smart Champ Insurance Plan is a non-linked participating child insurance plan that helps you in securing and strengthening your child’s future financial needs. Following are the benefits of this plan:
|Plan Type||Non - Linked, Participating Life Insurance Plan|
|Age at Entry||For Children: 0 years to 13 years For Parents/ proposer: 21 years to 50 years|
|Maximum Maturity Age||For Children: 21 years For Policyholder: 70 years|
|Policy Term||21 years minus the age of the child at entry|
|Premium payment term||18 minus the age of the child at entry|
|Premium paying term||Single Pay or Limited Pay|
|Sum Assured||Minimum: Rs 1 Lac Maximum: Rs. 1 Crore|
|Mode of Premium Payment||Annually, Half-yearly, Quarterly, Monthly or Single Pay|
How Plan Works
Product Benefits: SBI Life Smart Scholar Plan is a market-linked insurance plan that offers higher returns on the invested money along with insurance cover. Following are the benefits of availing this plan:
|Plan Type||Unit Linked Insurance Plan|
|Age at Entry||
|Maximum Maturity Age||
|Policy Term||8 years to 25 years minus the age of the child at entry|
|Premium paying term||Single pay or Limited Pay (5 to 25 years)|
|Mode of Premium Payment||Annually, Half-yearly, Quarterly, Monthly or single Pay|
How Plan Works
Applying for SBI Life Child Plans is an easy and quick process. SBI for the comfort of its customers has made available various options from where the customer can apply for Child plans as per their preference. Following are the various ways through which customers can reach SBI Life and apply for child plans
customers can easily apply and avail for SBI Life Child plans through the online channel. The online mode of applying for SBI Life Child plan is very simple and easy. By following a few simple steps and with few clicks customers can avail SBI Life Child Plan to secure the future of their children. Following are the simple steps to avail the insurance policy for your children.
Apart from online mode customers can also apply for SBI Life Child Plan through offline channels. Offline channels include applying for SBI Child plans by visiting SBI Life office, SBI branch, agents, brokers etc.
Which is the best Investment Plan of SBI Life Child Plans 2019?
SBI Life focuses on creating an insurance plan that will consider and incorporate all the insurance needs of customers. SBI Life insurance plans are designed to offer future financial security. SBI Life’s Smart Scholar Plan and Smart Champ Insurance Plan are best investment plans that must be opted to secure the future of your child. By investing in these child plans you can cover and plan for all the future financial needs of your children.
Which is the best SBI Life Child Plans for the long term?
SBI Life offers 2 child plans to customers namely: Smart Scholar Plan and Smart Champ Insurance Plan. SBI Life Smart Champ Insurance Plan offers maximum policy term of 21 years minus the entry age of the child. This child plan can be availed from age ‘0’ of the child so if you are looking for long-term coverage then start earlier with SBI Life Smart Champ Insurance plan.
Why should I buy SBI Life Child Plans?
SBI Life is one of the leading insurance provider companies in India that offers a wide spectrum of insurance coverage plans to its customers. Apart from other insurance plans, SBI Life offers best child plans that focus on providing financial support and stability to children in their budding years. You should opt for SBI Life child plans because both the child plans offer different and unique features like Smart Scholar Plan is a unit-linked plan while Smart Champ Insurance plan is non-linked participating life insurance plan thus customers can find all types of insurance options to choose from.
What should I do if I want to change my premium paying?
SBI Life allows certain alteration in the child plan which is subject to the terms and conditions of that particular policy. So for any alterations, it is recommended to visit the nearest SBI Life office.
Why you should opt for SBI Life Child Plans?
SBI Life child plans are specifically designed to fulfill all the future financial needs of children. Investing in child plans is beneficial as you are creating a financial backbone for your children. Apart from insurance coverage and financial corpus building, SBI Life child plan offer various benefits like bonuses, discounts, and rebates in premium, handsome sum assured at a low premium amount, Loan Facility etc. thus investing in SBI life insurance company’s child plans is beneficial as it helps in safeguarding the future of your children.
How to pay a premium? What are the modes of payment available?
Payment of premium has become easy. Customers of SBI Life can now pay the premium amount in the following ways:
How can I check policy status for SBI Life Child Plans?
In order to check the policy status of SBI Life Child plan simply login to mypolicy.sbilife.co.in/ by entering valid credentials like Login ID and password and you will get the entire status of your child plan.
What is the policy renewal process for SBI Life Child Plans?
Renewal of SBI Life Child plan is simple and quick. Customers can do the renewal of their child plans in the following ways:
What is the company’s process to settle the claim for SBI Life Child Plans?
SBI Life follows a 3 step simple claim settlement process for Child Plans as under: Step 1: Claim Intimation Step 2: Document Submission Step 3: Decision making and Claim Settlement
What is the policy cancellation process for SBI Life Child Plans?
SBI Life allows its customers the freedom of canceling the insurance policy if they are not satisfied with the child plan they have opted. This cancellation is allowed in the free-look period where the policyholder has to visit the nearest SBI Life Branch office along with necessary documents like Original policy document, canceled cheque and an application letter clearly mentioning the exact reason for policy cancellation. Upon receipt, SBI Life shall carry out the cancellation process.