Every parent wants to give their child the best possible start. But the cost of higher education in India has been rising at 10-12% a year — far faster than most salaries. A course that costs ₹8 lakh today may cost ₹25-30 lakh in 15 years.
Step 1 — Decide the goal, not just the product
Before choosing any plan, ask: what education are you planning for? Local graduation, professional course (engineering/medical), post-graduation, or studying abroad? Each has a very different cost and timeline.
Step 2 — Work backwards from the year
If your child is 5 today and you want ₹30 lakh ready at age 20, that’s 15 years. With a LIC child plan, you can build this with a manageable monthly premium — and the policy continues even if something happens to you.
A child plan protects the dream even when life becomes uncertain.
Step 3 — The two non-negotiable features
- 1Premium waiver benefit — if the parent passes away, all future premiums are paid by LIC, but the policy (and the maturity amount) continues as planned.
- 2Milestone payouts — money is released at key education milestones (Class 12, graduation year, etc.), not as one lump-sum.
Vinay Ji’s advice: start a child plan in the year your child is born, or by age 2 at the latest. The earlier you start, the smaller the monthly premium — and the bigger the final corpus.
A quick example
For a 3-year-old child, a LIC child plan of around ₹5,000/month can build a corpus of ₹25-30 lakh by age 18-20, depending on the plan and bonus. Compare that with suddenly arranging ₹30 lakh in one year — almost impossible for most families.
Your child’s dreams should never depend on a single year’s salary. Plan for them today, with Vinay Ji’s patient, family-first guidance.
