When it comes to securing your child’s future, compromising is never an option. As a parent, one of your most essential aims would be to make sure that your children have a radiant future and protect their lives easier and also wants to provide the best opportunities to their children be it security, well-being, career, or financial safety. In the pursuit of fulfilling the needs of their children, parents often overlook the long-term plans. Expenses like higher education, medical emergencies, and marriage can cost a fortune. Therefore, to be prepared for such costs and create a financially secure future for them, you need to start spending in a child education plan.
To choose the best plan, Insurance Consultant in Bilaspur is here to gives you the most reliable Child Education Insurance Plans which can help you achieve this by saving for your children’s higher education at a prestigious university.
Here are some points which describe the several benefits of best child education plan which secure your child future:
- Most of the parents want their child to take up professional courses to be an engineer, architect, lawyer, or doctor. But as you can see, the cost of education is rising at 10% which is much higher than the economic inflation, and the fees of these courses have been hiked to Rs 2 Lakh from Rs 90,000 which is becoming unaffordable, therefore it is necessary to invest in a child saving plan at an early age, then the investment corpus gathered at the time of maturity will be adequate to meet all the key educational milestones in your child life.
- Some plans will waive off the entire premium to be paid during the policy term if anything unfortunate happens to the insured person. Likewise, there are some riders benefits such as personal accident insurance rider benefit to cover up for several accidental injuries, and if the person purchasing the plan is not around anymore.
- In case if the parents who have purchased the child plan are not around anymore then the insurance policy immediately pays a percentage of the sum assured immediately and a certain percentage of the sum assured is paid every year until the end of the policy term. The amount paid is adequate to pay your child’s school fees in your absence.
- Due to market fluctuation, the returns over investments vary. To make the best of the invested amount and protect it from capital erosion, a dynamic fund allocation strategy needs to be chosen. You can opt Systematic Transfer Plan or STP to plan your investments as per the returns that are required during various life stages and also help you to meet the various milestones. With the help of STP, You can switch the purchased units of funds to make the best of market volatility.
- If your child owns a special talent, such as acting or instrument playing, you can nourish it further by withdrawing money during the policy term to fund a special course that can stimulate your child’s talent further. Moreover, some plans come with periodic pay-outs to help you to meet the expenses incurred while enhancing your child’s talent.
Child plans are a combination of insurance and investment plan to assist you to protect your child’s future. Just as your child feels secure in your arms, a child insurance plan adds a safety net around your child’s future so they can achieve their goals without bothering about finances. Insurance Consultant in Bilaspur helps you to choose the best child insurance plan that assures your child’s secure future by taking care of financial requirements even in your absence.
Apart from savings and investment plans, every parent must have an adequate life cover to secure their child’s future. Here are important benefits of the child insurance plan are as follows:
The common essential advantage of buying a child insurance plan is to protect your child in case of an unfavourable situation. A good insurance policy covering your children’s financial requirements can take care of their welfare even in case of your absence.
As a parent, you realize that your child needs extra financial support especially in crucial times when she/she plans for higher education, at that time a good child’s insurance plan helps your child to gains the maximum amount when he /she wants it.
While both child education plans and insurance plans provide specific advantages to the policyholder and the child but the variation lies in the tenure, the maturity period, as well as the advantages included. In this way, child education plan and child insurance plans help you to be financially prepared for any challenge so without any delay, you should start by paying a small amount of premium now and be ready to secure your child’s future. For more information
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