Investing and saving
enough for a child’s future is considered the most important financial goal by
parents in India. Your bundle of joy brings a lot of responsibility for new
parents and if they buy online child insurance plan, their children can have a
financially safe future.
Child
insurance plan can help parents to save adequate money for a child’s future
goals such as education and marriage. These insurance products are made in such
a way that they fulfill the financial needs of your children when requirement
arises.
Parents should know that such plans help them
save money regularly over a period of time. The amount is invested to increase
over a period of times and then, insurance companies in India payout lump sum
money at the time of maturity.
In
fact, insurers also offer death coverage. In simple words, child insurance
plans can be bought on the life of any of the parent and you can make the child
as the beneficiary. Incase parents met with an unfortunate event, and then
child best insurance plan will take care of a child’s needs.
The
best part about this child
insurance plan is that it will continue till maturity after the parent’s
demise and all the remaining future premiums will be waived off by the
insurance company in India. This is one of the unique child insurance benefits
and generally known as ‘waiver of premium’. At maturity, a guaranteed
lump sum amount is paid out.
Based
on a policy type, the payment happens at two stages, once on the parent’s
demise and another is on maturity. In Indian insurance market, there are some
plans which will offer payouts at regular intervals. The idea behind this
feature is to make funds available when child requires it most, be it for
education or marriage. Parents can buy child insurance education cover to
fulfill the dream of their children’s education.
While
buying child best insurance plan, first select the term period based on when
your child needs the financial support and then, calculate the amount. People
can also take help of a financial planner to decide the life coverage amount.
Compare different child insurance policies before finalizing the one.
No comments:
Post a Comment