does-child-education-plan-help-in-tax-saving

How a Child Education Plan Can Help with Tax Saving?

Child education plans not only offer life insurance benefits but also provide significant tax-saving benefits during the investment period.

2022-05-25

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2 minutes read

A child education plan offers significant tax-saving benefits on both the premiums paid and on the policy benefits received upon maturity and during the policy term. The premium paid under a child education plan, up to an amount of 1.5 lakh, is tax deductible under Section 80C of the Income Tax Act 1961. On the other hand, the policy benefits received during the plan's duration and upon completion of the policy period are exempt from taxation, according to the regulations of Section 10(10D) of the Act.

It is advisable to consider here that the tax benefits associated with the child education plans are valid as per the prevailing Income Tax laws. From time to time, these tax laws are subject to amendments. For any tax-related queries, therefore, you must contact an independent tax advisor.

 

Child Education Calculator

A smart online tool that helps you easily navigate the costs of your child's future education, ensuring their dreams come true.

1 About my Child
2 My Child’s Dream and Needs
3 Additional Details
4 Our Recommendation
About my Child My Child’s Dream and Needs Additional Details Our Recommendation
My name is {name}
my mobile number is {mobile}
You start investing when {name} age is: {initialAge} years
Maturity amount received by {name}
{name} becomes an {career} Professional
For {name} Education as: {career}
You should start saving
{maturityAmount}
For remaining {remainingYears} years
To create a sum of {totalamount}
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*Disclaimer-

The above calculation and illustration of figures are indicative only and not on actual basis.

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Child education plans allow you to diversify your financial portfolio with opportunities to maximize your savings while securing the future needs of your child. 

With child education plans from Canara HSBC Life Insurance, you can also make partial withdrawals throughout the policy tenure, to take care of any immediate needs that may come up. Therefore, it is sensible that you take your time in understanding the various features and benefits on offer under different child education plans before choosing an appropriate investment plan so that your child can continue living their dreams and never have to worry about money as they grow.

Child Education Plans with Canara HSBC Life Insurance

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Child Insurance - Top Selling Plans

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