Child Insurance

Child Plan is insurance cum investment plan that serves two purposes - Financially secure your child's future & finance the turning points in his/her life such as higher education and marriage. So, like a double-edged sword, the best child plan is designed to protect the future of your child in case of your unfortunate demise and at the same time, builds a corpus over a term to be utilized to finance prime moments in his/her life.

All parents want nothing more than to secure their child’s future. With rising costs of education, they want to ensure that their child will not be deprived of any opportunities to fulfill their highest potential for want of financial resources. For a primary breadwinner, there is also the fear that their children will be left without access to the same standard of living or education if anything were to happen to them. While most people are very meticulous about taking out pension plans and health insurance plans even travel plans , child policies and education plans are not that well known in India.

Child education plans are available in a wide variety of forms and payment options. It would be easier to compare online child policies before deciding on the best one for your particular needs and budgets. Getting child care quotes from reputed companies is also crucial before locking onto the one that you are going to pay for over a long period of time. When you compare online child policies, you get much better child care quotes from a much wider range of companies than if it were done offline.

When a person takes out a child insurance policy, in case of death of the policy holder, future premiums are excused or waived off and the money continues to be invested for the child. In a term plan, a lump-sum amount is provided to the child on the untimely death of the policy holder, which marks the end of the policy. For this reason, a child insurance policy is more advantageous to the child than a simple term policy as the child gets money at regular intervals as previously planned. The premium for child plans also makes the policy holder eligible for tax deductions.