ICICI Prudential Smart Kid Plan

ICICI Prudential Smart Kid | Child Education Insurance Plan


Child Education Insurance Plans are insurance plans that take care of your Protection and Savings needs for securing the future of your children. As a parent, one of our most important goals would be to make sure that your children have a bright future and lead their lives comfortably. These plans can help us to achieve this by saving for our children’s higher education at a prestigious university.

ICICI Pru Smart Kid Plan is an unit linked insurance plan not only helps you save money for your child’s future but it also ensures the plan continues to save for your child even when you are not around.


In ICICI Pru Smart Kid Plan, you pay premiums for a specified period (monthly, half-yearly, yearly or single pay). Once the policy term ends, you receive a lump sum amount called the Maturity Benefit. In case of an unfortunate event during the policy term, the company offers your nominee the Life Cover amount. The company also waives the future premium payments for the remaining policy term to ensure that your children’s future is always secure. This benefit is available, provided all due premiums are paid.


Benefits of ICICI Pru Smart Kid Plan

  • Financial Protection – In case of death of the life assured, death benefit paid out to the nominee as a lump sum


  • Growth of Investment – Premium you pay will be invested in your choice of equity, debt or balanced funds to build a corpus for your child’s future


  • Loyalty Bonus – Get rewarded with Loyalty Additions and Wealth Boosters by staying invested in this plan


  • Emergency Fund – You can make withdrawals from your investment on completion of 5 policy years


  • Control of your Investment – Choose from 8 funds (equity, debt and balanced funds) to invest and can Switch between them anytime, tax free


  • Tax Benefit – Get tax benefits on premiums paid under Section 80C and on maturity proceeds under section 10(10D) of the Income Tax Act 1961


  • Choice Of Protection Levels – Choose the level of protection to suit your needs


  • Flexibility – Choose to pay premium just once or for the entire policy term


Another great advantage you have by investing in ICICI Pru Smart Kid with ICICI Pru Smart Life is the low charges you pay. While there might be varied charges under your policy like premium allocation charge, policy administration charge, fund allocation charge and mortality charge, however after adjusting loyalty additions and wealth boosters, the total cost you pay per annum only works out to 1.60% p.a.


Other benefits of ICICI Pru Smart Kid Plan are:


  • Regular savings make the basis for long-term successful planning.
  • It helps you to save regularly in a disciplined manner when you allocate some money to be invested as your premiums.


  • It also offers the option of Premium Redirection and Top-ups that give you more control over your money.


  • Tax savings: Avail tax benefits under section 80C, up to ` 1.5 lakh on the premium paid towards a life insurance plan. You can get tax benefits on the money you receive upon maturity subject to conditions under section 10 (10D) of Income Tax Act 1961.

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