SBI Scheme: If you invest and deposit money in advance, then the tension from education to children’s marriage can end.
SBI Life Insurance Scheme: With the continuous increase in inflation in the country, there is a lot of impact on the education and life of the children. In such a situation, you may need more money to give good education to the children.
Also, as the age increases, the need for money will be more. However, if you invest and deposit money in advance, then the tension from education to children’s marriage can end. Because SBI Life Insurance offers a similar scheme for children, by investing in which these problems can be solved.
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Under SBI Child Plan Fixed Deposit, two schemes SBI Life- Smart Champ Insurance and SBI Life- Smart Scholar are run, by investing in which big money can be deposited for the future of children.
SBI Life – Smart Champ Insurance
Under this scheme of SBI Life, Rs 1 crore can be deposited by investing Rs 1 lakh. It can be invested monthly, quarterly, half yearly and annually. Anyone in the age group of 21 to 50 years can buy this plan, while the age of the child should be between 0-13 years. The maturity period for children is 21 years. The amount is given in the form of 4 annual installments when the child is 18 years old.
On investing in this scheme of SBI, customers are given the benefit of insurance. In case of an unfortunate accident, an amount up to 105% of the sum assured can be given under this plan. Also this scheme can be directly linked with your SBI account, so that you will not need to invest again and again.
SBI Life – Smart Scholar
This is an individual, unit linked, non-participating life insurance plan from SBI Life. To invest in this, the age of the parents should be 18 to 57 years and the age of the child should be 0 to 17 years. You can invest in this policy for a minimum of 8 years and a maximum of 25 years. Talking about the maturity period, it matures at the age of 18 to 25 years of the child, while it becomes mature at the age of 65 years of the parents.
In this scheme, money can be withdrawn at the time of emergency. Along with this, you are also given accident insurance in this scheme. Apart from this, tax benefits are also available.
