Robinhood Insurance Broker Private Limited

OneInsure Blog

Child Plans

Bringing up a child isn't just an emotional investment for parents everywhere, but also a big financial obligation. With the cost of healthcare and education shooting up, it has become all the more necessary to have in place a financial plan that covers all the expenses from the time your child is conceived until s/he can look after herself or himself. According to a study by ET Wealth in 2011, it costs about 54.75 lakhs to raise a child from birth until s/he is 21 years of age. Factoring in inflation, if your child is born in 2015, this figure will easily touch 75 lakhs. If s/he is born in 2020, we are looking at 1+ crore. And this is for a single child, mind you.

Here is a look at some of the major expenses you will incur while raising your child.


Education costs you’ll need to consider include schooling, graduation, post-graduation, and coaching fees for professional courses. An Engineering course that costs about ₹15 lakhs today will cost at least ₹40 lakhs by 2035. Similarly, an MBA degree from a reputed institute, which costs at least 15 lakhs today can go up to ₹60 lakhs by 2035.

Also read: Are you prepared to meet your child’s education expenses?


According to a study by a finance magazine, parents spend about 2 lakhs on healthcare for their child until the time s/he is 21 years of age. Medical expenses are usually high in the initial few years and then remain low unless there aren’t any major illnesses. Besides this, there are also maternity expenses to be taken into account. A normal delivery can cost about 50,000 or so, while a Caesarean delivery could go up to 1,50,000.

Food Expenses

Food-related expenses can amount to an average of 6,000 per person per month. This can total to 72,000 or more in a year. The figure will increase when you take inflation into account. So, you will be spending about 10 lakhs or so over the next 10 years in food expenses alone!


The study by ET Wealth also stated that parents spend up to 6.57 lakhs on entertainment expenses for their child. The money spent on entertaining your little one can sometimes be more than feeding or clothing him/her.

Cover Your Child’s Future - Invest in Child Plans

One of the best ways to save with regular investments for your child’s future needs like higher education is through child insurance plans. You can start saving systematically with the help of child plans and secure your child's financial future. In case of money-back policies, your little one stands to receive survival benefits at regular intervals. For example, when s/he turns 18 years of age, the insurance company would pay around 20% of the sum assured, and another 20% after two years and so on. You can also opt for endowment policies, where a lump sum amount is paid at maturity along with bonuses.

One of the benefits of child insurance plans is its Waiver-of-Premium feature. If the policyholder (parent) were to pass away, all the future premiums will be taken care of by the insurance company and the cover will continue to be active. Almost all life insurance companies include child plans in their portfolio of offerings. To find the most suitable cover to secure the future of your little ones, give us a ring at 86559-86559 or write to us at and we will be happy to help.


Loved this article? Want to read more? All you need to do is send “Start” through WhatsApp on 98202-25238 to get useful articles right on your WhatsApp for free. Here are some additional services we offer:

  • Ask all your insurance queries to our experts right here on WhatsApp
  • Get tax certificate
  • Surrender your policy
  • Change policy details
  • And many other services



  • By clicking on the "GET A CALL" button, I accept the terms and conditions & authorize OneInsure representatives to contact me (via Call/SMS/Email).