Guaranteed Return Plan for Children in India

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It is a natural tendency of all parents to start worrying about their Child's future the day he/she is born. In true sense they want their child to have the world at his feet. Anything or everything he desires or longs for should be his at the blink of an eye, is the pledge every parent takes the moment he holds his child in his/her arms. Getting your child that ‘everything’ may not seem plausible in today's Inflation hit and economically slow environment. Both parents' combined income may not be enough to fulfill the ever rising demands of children who by the way are becoming very difficult to nurture because of their heightened inclination for wants more than the needs. Furthermore, one cannot rule out the high cost of living that is constantly rising. 

Parents are getting nightmares for they fear they may not be able to educate their child to the best of their abilities, courtesy- Inflation and Life risk. On the back of what life may bring with it in the future, Parents are looking out for options that not only provide protection but also income in case something unexpected happens. People in such a scenario should consider Guaranteed return plan/traditional insurance plan as one of the most efficient options to not only seek protection against unwanted events but also to gain an extra source of income for planned/unplanned future events so that they are not taken by surprise in times of adversity. 

All Parents' concerns are similar; that they want protection for their children and their monetary security for future events. All parents therefore must opt for a Guaranteed Return Plan. It is mandatory for you to know all about it and also to be sure as to why you want to take this plan. As the name suggests a guaranteed return plan offers decent returns on your investment and provides protection against all unexpected events, both at the same time. This type of plan is akin to the traditional insurance plans, where the premium is fixed in the beginning of the term and the returns are also pre decided. The fact that this plan is not market linked keeps one stress free as there would be no dependence on the ever fluctuating share market. Safety concerns of parents are met as they get to plan their child's future with the returns that they will receive. The returns or guaranteed return would be bonus along with the return of the premium amount paid as well as sum assured. 

The guaranteed plan will help you save money for your child's future expenses like their education, marriage and many other events. Not to forget, this plan will offer death benefit to the nominee in case of either of the parents' untimely demise. Child won't suffer as all his needs would be met. Such kinds of plans are available at low premiums and the term is from 10 years to 30 years. Some guaranteed plans give you the option to receive regular returns. You can choose to avail the returns as per your planning of important events. Income through this plan is tax exempted as per current income tax laws. The premium can be paid monthly, quarterly, annually and even on single premium basis according to the policy terms of the company. 

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