Child insurance policies are insurance cum investment plan that helps to secure the financial future of the children and take care of all the future needs like higher education, marriage, etc. Every parent who wants to ensure a financially secured future for their child even in their absence should consider investing in a child insurance policy.
With the help of a child insurance calculator, the individual can plan for their child's bright future. Let's read further to know in detail about the child insurance calculator.
Insurer pays your premiums in your absence
Invest ₹10k/month and your child gets ₹1 Cr tax free*
Save upto ₹46,800 in tax under Section 80(C)
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Nothing Is More Important Than Securing Your Child's Future
Invest ₹10k/month your child will get ₹1 Cr Tax Free*
A child plan calculator is an online tool specifically designed to provide parents with an approximate idea of the fund they would require to fulfil the future life goals of their children. For every parent, the well-being of the child is the utmost priority. With the rising inflation rate and skyrocketing education costs, it is crucial to have substantial savings so that all the child's future financial requirements are taken care of. A child plan calculator helps an individual create a strong financial backup for their children by providing them with an estimation of how much money they will need in the future to fulfil their children's future goals.
Before computing the monthly investment needed to accumulate the desired amount, the child plan calculator considers important factors like inflation, annual income, etc. The inflation rate plays a most important factor while calculating the approximate future amount required to secure the child's financial future. Due to inflation, savings lose value over time; thus, it becomes imperative to consider the inflation rate while doing the calculation.
Long-term goals like a child's higher education or marriage require proper financial planning and a substantial amount. With the help of strong financial planning, an individual can accumulate enough funds to fulfil these long-term goals. With the help of a child insurance calculator, an individual can estimate the monthly investment they will require to make to fulfil their child's future goals. Here are some of the reasons why you should consider using a child plan calculator.
If your child wants to pursue any specific career or study abroad, you will need to plan and set aside specific funds to fulfil these goals. These specific goals will also require more money; thus, with the help of a child insurance calculator, you will be able to evaluate and analyze the amount of money needed to fulfil these goals.
Estimating the amount required to fulfil the goal is not a herculean task. Depending on the child's interest, you can get an idea of the amount you will need to fund his/her higher education. Similarly, you can also estimate the amount you will need for your child's marriage. All these estimations can be done in zippy with the help of a child insurance calculator. The calculator will project you the approximate amount, considering various factors like rate of return, investment tenure, and inflation rate.
Before investing in a child insurance plan, it is important to understand the financial requirements and budgeting. With the help of a child plan calculator, you can get an idea of the monthly outgo of money and make strong financial planning for yourself and your family. A child insurance calculator helps you to plan your monthly finances properly.
Having a child insurance plan is a must to ensure a financially secured future for your child. A child insurance policy comes with a waiver of premium option, wherein all the future premiums of the policy are waived off in case of unfortunate demise of the life assured during the policy tenure, and the benefits of the policy remain the same till the maturity of the policy. Apart from this, a child insurance policy also takes care of the children's future financial needs. Thus, with the help of a child insurance calculator, you can estimate the amount of coverage you will need to protect your child.
One just needs to follow few simple steps to use the calculator. Let's take a look at it:
It is imperative to do proper financial planning to accomplish long-term financial goals. The more clear picture of investment you will get, the easier it will be for you to make the right decision. The main objective of the child plan calculator is to make investment easier for parents. By having a proper idea of the exact amount that needs to be invested, a parent can plan their future finances and take care of the family's current needs efficiently. There are different types of child calculators designed to serve different purposes. Many people use child insurance calculators to save for their child's higher education. Others use them to create an emergency fund for their children.
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