Parents in India are of the notion that investing in a good child insurance plan is a complete waste of money. Parents would rather invest their money in PPF, fixed deposits, mutual funds and other instruments. Although there is surety of returns in investments, the interest rates are not very alluring.
As parents our prime concern is our children’s wellbeing and future. This includes giving them all the financial support they need especially during major events and milestones of their lives. Meeting education expenses, marriage expenses, health expenses,etc., are only some of them. Investing in a good child insurance plan, serves a dual purpose of investment and insurance for your child.
Unlike other insurance plans, child insurance plans do not terminate on death of the parent. Most insurance companies in this case pay the insurance premium till it reaches its term. With a good child insurance plan you not only save enough to meet all your child’s expense, but also ensure that they are well provided for long after your death.
As Yashish Dahiya, CEO, www.policybaazar.com says, “Securing your child’s future with a sound investment plan is a must.“
Parents do not trust investing in child insurance plans and would rather save through mutual funds or term plans. Although, investing as a whole is a good habit, the fact is that child insurance plans score over mutual funds and term plans.
One such factor with child insurance plans is the availability to choose riders. Riders to your child insurance plan could be anything like accidental benefits, disability rider, etc. In such situations the child’s needs are taken care of in case the family member is disabled or no longer lives. Riders like the family income benefit also help the child in case the family member who is a policyholder dies, before the insurance plan reaches term. Child insurance plans are a complete one-stop solution to meet ones financial goal, especially for those investors who do not have first-hand knowledge in investments.*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Here are some ways you can secure your child’s future with specific child plan.
Parenting is an uphill task, it is always about making the right decision for your children. By investing in your child’s future you ensure that your child gets the best even if you are not around.