You are filled
up full of love and joy as your child enters into your life, but with this
happiness comes a great responsibility too, that is securing your child’s
future. Ultimately, the designing cord of a child’s future is in parent’s hand.
Role of parents and their teachings serve as an anchor to their kids and as a
responsible couple, parents leave no stone unturned to give a safe and secured
upbringing.
When it comes to
securing kids future, there is nothing better than opting for a child plan. Such
insurance plans are designed to meet the future financial needs of your
children. The one thing that makes the plan most preferred is the fact that the
policy continues to fulfil child’s needs even parents meet with an unfortunate
event.
Why opt for a child plan?
No matter how
hard you try, but it’s quite challenging to follow a simple monthly saving plan
without strictly following any policy terms. It’s like if you have surplus
money, you put it into a piggy bank, but if you don’t have, there’s no
alternate solution to it.
This is probably
not the scene with the child policy plan. As once you buy a plan, you have to
ensure regular premium payments. It might seem like a financial burden
initially, but it will ultimately secure your child’s future financially and
this will make you proud of your decision later.
Child insurance policies provide the flexibility to avail benefits of both investment and
savings based on your child’s educational needs and your current financial
position along with other monetary responsibilities. Typically, a policy plan
provides life cover benefit of around 10 times the annual premium; plus, these
plans have partial withdraw facility to meet child’s financial needs if and
when needed. Apart from this, tax benefits can also be availed for the premiums
paid against the plan.
As a
parent, one would generally plan from the perspective of making funds available
for:
Education
Whether you have a strong financial
background or you come from low-middle class family, your child deserves the
right to education and finances should never be a hurdle in their path of
success. Child plans are designed to fulfil the financial needs to let them
pursue higher degree courses even from prestigious institutions.
Marriage
Marriage is another milestone in any one’s
life and of course, everyone has their individual dreams and desires for their
D-day. Thus, child plans also makes funds available to meet wedding expenses of
your child’s marriage.
Capital for business
As your child
ages and becomes financially responsible, you can play your role by seeding
capital for their start up business.
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