Which Is The Best Plan For Girl Child?^~

How To Choose The Best Plan For Girl Child?^~

Your daughter deserves the best and she should be secured with the best financial instruments out there. To know which is the best plan for your girl child, you need to identify what your goals are. Take into consideration the rate of inflation, her age, your annual income, time till she attends school or college, cost of education, and living expenses if she chooses to pursue a field in a foreign country. All of these factors influence the choice of plan. 

Why Should You Choose ULIPs For Girl Child?

Ideally, ULIPs can earn you the best returns as well as offer financial respite in case of eventualities. Some of the key benefits of ULIPs are:

• These plans invest a part of the premiums in equity and debt funds that generate significant returns to grow a huge corpus. 

• Although the investment risk is borne by the parent, ULIPs come with a range of low and high risk fund options which balances out the risk involved. 

• Moreover, the insurance component of these plans makes sure that your family is taken care of in your absence. 

• Notably, most child ULIPs waive off future premiums payable in such cases but keeps the money invested till the end of the term to continue generating returns for the child.

In addition to growing your savings, you should also consider buying a term insurance policy that offers financial assistance to your family in case of your demise. A combination of these policies for your girl child can give her comprehensive protection, without her struggling to finance her education or other needs. 

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Best Plans For Your Girl Child^≈

The table lists the best investment plans for a girl child along with child savings plans for parents with varying risk appetites. The following plans can be the best fit for your girl child and help give wings to her dreams and aspirations:

Disclaimer: ≈ Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is done in alphabetical order (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

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Summing Up!

The best plan for girl child will give you the assurance that your daughter is well taken care of in the case of emergencies. While ULIPs offer the best of both worlds viz. insurance and market-linked returns through investments, these come with certain risks. Therefore, it is important that you do your due diligence and pick a plan per your risk appetite. Further, it is equally important that you get a term insurance cover to compensate for the loss of income in your absence. If you have multiple children, be sure to assign different funds for each child.