WHAT ARE CHILD PLANS?

Child plans serve two purposes – protection and goal based savings. Child plans are insurance plans that secure your child’s future incase an unfortunate event occurs to you and provide that financial support during the turning points in your child’s life such as his/her higher education and marriage.

BENEFITS OF CHILD PLANS

  • 01

    GUARANTEED RETURNS

    You get guaranteed returns even during market uncertainties

  • 02

    PREDEFINED INSTALLMENTS

    You can also pre-define the stages you will need the returns

  • 03

    ACCRUED BONUS

    You get accrued bonus so that you make the most of your wealth

  • 04

    TAX BENEFIT

    Avail dual tax benefits u/s 80C & 10 (10D) of Income Tax Act, 1961

  • 05

    LIFE COVER

    You also get life cover so that your child’s future is secured

  • 06

    LOAN FACILITY

    You can meet immediate and unforeseen liquidity requirements

WHY CHOOSE A CHILD PLAN?

WHY CHOOSE A CHILD PLAN?

You and your child may have various aspirations when it comes to choosing the right career. As a parent, you would wish that your child's dreams are always fulfilled. While your child may be capable enough to pursue his dream, he may also need some financial support. Investing in the right plan for your child’s education can help your child meet his dreams.

The ever increasing costs of education at present are a major stress for us all. An MBA course from a well-known B-school can cost more than 10 lakh. Your child may be intelligent but you wouldn’t want him/her to not pursue his/her dreams because of financial constraints. If you consider the present inflation rate, the education cost will only increase tremendously in the future.

Considering the current inflation rate, if after 10 years your child wishes to pursue an MBA degree you will need at least Rs.25 lakh. If you delay in planning for your child’s educational goals, it will be very difficult to arrange this amount and you or your child may be burdened with a heavy loan. Investing at the right time regularly in a child plan may prove to be a saviour during this phase.

WHY YOU NEED A GUARANTEED RETURN CHILD PLAN?

A child plan that provides guaranteed returns is basically an endowment plan which is designed to cater to the need of child education and marriage funding.

WHY YOU NEED A GUARANTEED RETURN CHILD PLAN?

Child plans are available in both the categories - market linked and guaranteed. However, your child’s goal is certain and sure to be achieved whereas the market's performance is uncertain. You cannot afford to put your child’s career at stake if the market doesn’t perform! While the returns may be lucrative it is also doubtful!

When it comes to your child’s career goals it is always advisable to invest in a safe and a guaranteed investment instrument. Such insurance plans will provide security for your child in case an unfortunate event occurs and also secure your funds so that your child can achieve his current aspirations. What’s more? You will also get accrued bonuses when you invest in a child plan.

GUARANTEED RETURNS

ARTICLES WORTH READING

  • Advantages Of Child Education Plan

    read more
  • When should you plan for your child’s future?

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  • Best-Investment-Options-for-Child-Education

    Best Investment Options For Your Child’s Education

    read more
  • Reasons-to-buy-a-child-education-insurance-plan

    Reasons To Buy A Child Education Insurance Plan

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  • Increasing-cost-of-higher-education

    Increasing Cost Of Higher Education

    read more
  •  How-to-guide-your-child-in-his-career-decision

    How to guide your child's career decision?

    read more

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