family_bg (16).jpg family_mob (17).png

Ways You Can Help Your Child Develop Holistically

  12/17/17 8:43 AM

Product Enquiry

Blog Title

225   | 

Every parent intends to offer things that are necessary for overall development of the child. Holistic development encompasses all the important training and insights that are required to make him/her a good citizen of the world. This includes various lessons that will help him/her develop the necessary skills to tackle with all the problems that the world throws in future. A good education lays the foundation for such a holistic development. By enrolling your child into a good school, you are fulfilling a part of your primary duties as a parent.

Here are a few ways in which a child’s education plan helps you safeguard his/her future.

Benefits of Insurance Policy for Child Education

1. Regular Source of Savings

The child education policy serves as a regular source of savings for future needs. The insurance policy is an ideal investment and budget-friendly too since you need to pay a fixed amount of premium on a monthly/annual basis.

2. Death Benefits

All the insurance policies offer you death benefits. These death benefits take care of the complete education costs of your child, in case of untimely death of the parent. This way, you can be sure that your child’s education does not stop due to any external factor.

3. Great ROI

These insurance policies also offers a great return on investment since you get back the sum of insurance after the end of tenure.

4. Long Tenure for Returns

You can opt for an insurance plan for a period of anywhere between 5 years to 25 years, depending on the needs of your child. In addition, these plans usually have a very low minimum entry age allowing young fathers and mothers to take care of their children’s education needs.

5. Small Annual Premium

The insurance plans are available for a fractional cost of total benefits offered by them. This small premium allows people from various income classes to buy an insurance policy for their kids.

6. Tackle Heavy Rate of Inflation

The costs of primary as well as higher education are always on a rise. If your child is eligible for an admission in a good college, you can be rest assured that the decent fees for this college will go into several lakh rupees easily.

7. Allowance for Partial Withdrawal

Some insurance policies also allow you to make partial withdrawals from the accumulated funds for personal use. This feature is helpful in case your child is able to secure a good scholarship at a reputed institution.

8. Income Protection for the Child

The child plans also provide income protection for kids who start earning from a young age.

9. Medical Treatment of the Child

The insurance plan also takes care of the medical expenses of your child in case he/she suffers from a major accident.

10. Collateral for Higher Education Loans

This policy acts as a fantastic collateral for availing student loans for higher education.

We know that life is full of uncertainties and a small mistake can end up costing you a large financial sum that may affect your child’s education. To make sure that your child’s education goes without a hitch, you must invest in a good child policy, like the EduSave plan offered by Edelweiss Tokio. It will take care of all the educational needs of your child, even in your absence.

Related Blogs

Related Assets

# ulip

Tax Benefits on ULIP Plan for NRIs

29 Apr 2023

# insurance-glossary

What Is Claim Settlement Ratio | Factors

29 Apr 2023

# life-insurance

Life Insurance 101 A Comprehensive Guide

29 Apr 2023

# insurance-glossary

Annualized Premium

29 Apr 2023

# life-insurance-simplified

Insurance For The New Professional

11 Jul 2023