Education Insurance
At Bima Vista, insurance isn’t just protection—it’s empowerment with vision.
We deliver clear, modern solutions that secure your life, health, and future.
Frequently Asked Questions
Q1: How is this different from a term life plan + SIP?
A: Education insurance is more structured. If the parent dies, the policy continues automatically, ensuring the child receives the full benefit without needing separate investments.
Q2: Can this be used for studying abroad?
A: Yes, the maturity proceeds can be used for any form of education, whether domestic or international.
Q3: What’s the right time to buy this?
A: Ideally when your child is young, between 0 to 5 years old, so the plan matures right before higher education.
Q4: What if my child doesn’t need the money for college?
A: The maturity amount can still be used for other life goals like starting a business or further investments.
Q5: Can I change the nominee later?
A: Yes, most insurers allow you to change the nominee at any point during the policy term.
Education Insurance
Education Insurance
Every parent dreams of giving their child the best possible future, and education plays a central role in that journey. But life is unpredictable, and financial disruptions shouldn’t come in the way of a child’s dreams.
Education insurance is a life insurance plan that combines savings and protection to ensure your child’s education goals are secure, even if you’re not around. If the policyholder (typically the parent) passes away during the term, the insurer waives all future premiums while still paying the full maturity benefit, so your child’s aspirations stay protected, no matter what.
Types of Education Insurance Plans
Type | Risk Level | Returns | Ideal For |
Child ULIP Plans | Medium-High | Market-linked | Parents with long-term horizon |
Endowment-Based Plans | Low | Guaranteed | Risk-averse parents |
Money Back Child Plans | Low | Guaranteed | Who want payouts at multiple stages |
Single Premium Policies | Low-Medium | Depends on type | One-time investors |
Key Benefits
- Dual Advantage: Combines life cover with education savings.
- Premium Waiver: If the parent passes away, all future premiums are waived.
- Maturity Benefit: Lump sum amount available when the child reaches college age.
- Stage-wise payouts: Available in money-back plans for major milestones.
- Tax Benefits: Eligible under Sections 80C and 10(10D) of the Income Tax Act.