Child Education Planner

Ensure your child's dreams come true with a Child Education Planner. This tool helps estimate the costs of your child’s dream education and guides you in establishing a manageable savings plan. By providing complete guidance, it empowers you to navigate the financial aspects of your child's educational journey confidently. Invest in their future today with strategic planning and foresight.

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

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rating
6.7 Crore
Registered Consumers
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Insurance Partners
3.4 Crore
Policies Sold
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

What Is a Child Education Planning Calculator and How Does It Work?

A child education planning calculator is an online tool that helps you estimate the future cost of your child's education and helps you figure out how much you need to save today to cover it. It works like a financial time machine, projecting the rising costs of tuition, fees, and living expenses into the future, taking inflation into account.

What is Child Education Planning?

Child education planning refers to the process of strategically organizing and managing financial resources to ensure the educational needs of a child are adequately met. This involves saving and investing money to cover the costs associated with a child's education, including tuition fees, books, uniforms, and other related expenses. The objective is to build a financial foundation that can support a child's academic journey from elementary school through higher education.

What are the Benefits of Child Education Planning?

Child education planning offers several benefits that contribute to the overall well-being and future success of a child. Here are some key advantages:

  • Financial Security: Planning for a child's education helps ensure that there are sufficient funds available when educational expenses arise. This financial security reduces the burden on parents and allows them to focus on supporting their child's academic journey without unnecessary stress.

  • Goal Clarity: Establishing a child education plan encourages parents to set clear and achievable educational goals for their children. This could include attending a specific school, pursuing higher education, or acquiring a particular skill set. Having defined goals provides direction and purpose to the planning process.

  • Early Start Advantage: The earlier parents begin child education planning, the more time there is for savings and investments to grow. Starting early allows for the benefits of compounding, potentially resulting in a larger pool of funds available for educational expenses.

  • Budget Discipline: Creating a budget as part of education planning encourages disciplined financial management. Families can allocate resources efficiently, prioritize spending, and avoid unnecessary expenses, fostering good financial habits.

  • Risk Mitigation: Child education planning involves assessing and managing potential risks that could affect the ability to fund a child's education. By identifying and planning for risks, such as market fluctuations or unexpected financial challenges, parents can better protect the financial stability of the education plan.

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  • Tax Efficiency: Certain education savings and investment accounts offer tax advantages, providing an opportunity to maximize the growth of funds earmarked for education. Taking advantage of tax benefits can enhance the overall efficiency of the child education plan.

  • Flexibility and Adaptability: Child education plans should be flexible to accommodate changes in goals, financial situations, or unforeseen circumstances. Regular reviews and adjustments allow parents to adapt the plan to evolving needs and priorities.

  • Reduced Borrowing: With a well-executed education plan, there may be less reliance on borrowing for educational expenses. This can help prevent the accumulation of excessive student loan debt, allowing graduates to start their careers with a stronger financial foundation.

  • Long-Term Financial Planning: Child education planning is often part of a broader financial planning strategy. It encourages families to consider long-term financial goals and align resources to meet milestones beyond education, such as homeownership or retirement.

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People also read: Sukanya Samriddhi Yojana

When Should You Start Investing in a Child Education Plan?

It is advisable to start investing in a child education plan as early as possible. The earlier you begin, the more time your investments have to grow through compounding. Starting early allows you to build a substantial fund to cover educational expenses, reducing financial stress when the time comes for your child's education. The ideal time to start is often when the child is born or during the early years, providing a longer investment horizon and maximizing the benefits of long-term growth.

What are the Factors to Consider While Planning for Your Child’s Education?

When planning for your child's education, consider specific goals and associated costs, create a realistic budget, start saving early for compounding benefits, choose suitable investments based on risk tolerance, and regularly review and adjust the plan. Explore tax-efficient options, remain flexible, and stay engaged in your child's education while maintaining disciplined financial habits.

Cost of Engineering Education in India (2013-2023)

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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