Children plans which is mainly designed for children. The most favorable aspect of a child insurance plan is that the money is clearly earmarked for the use of the child at a target date for a particular purpose, may be his/her Education or marriage.It is very good that u are going to Plan for  your new born child  . most of the life insurance company are offering very good children,s plan like ..

kotak life                  :-  Head start child plan
Aviva LIFE                 :-  Little master & young scholor
Max new york  life  :-  Smart steps
HDFC Life                  :-  Young star plus
ICICI Pru                    :-  Smartkid
Met life                      :-  Little star
LIC India                    :-   Komal Jeevan.jeevan chhaya

So Mr Lalit you can choose  one of them which suits to your requirement.