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Let every day be Children’s Day!

The world is your child’s oyster, and you cannot wait to see them embark on a career path of their own. Your precocious child is already exhibiting signs of a brilliant future, with a keen mind that is forever asking the right questions. Your precious child may have already started thinking of taking up a career of their choice, in a field of their liking.

As a parent, you must support and encourage your child’s dreams whether you agree with their career choice or not. However, you must also be mindful of the fact that a lot of higher education in India, and especially abroad, is prohibitively expensive. Every year, the costs of higher education seem to grow exponentially. By the time your child attains the age where they may wish to pursue graduate or post-graduate studies in a niche or specialised field, the costs will have increased manifold.

This begs the obvious question: Are you equipped to bear the financial costs of your child’s dreams? You might save money towards the education, but you would be better served to find an investment option that takes care of the future education expenses without denting your personal finances. Taking a child insurance plan will help in this regard.

Why take a child plan?

  • A child insurance plan is an insurance product that aims to protect your child’s future educational dreams. It pays the costs of higher education after your child attains the age of 18 years, which is considered the maturity date of the policy.
  • Leading child plans provide the money required to pay tuition fees, study trips or some unplanned events pertaining to the study course, regular annual or 5-yearly payouts to help you meet education costs regularly, money to plan your child’s dream wedding, and so etc.
  • The biggest benefit of the child policy is that it provides the plan corpus to your child whether you are present in their life or not. In the unfortunate event of the policy holder’s demise while the plan is still active, leading insurers waive off the remaining premiums but keep the plan live. The money is then handed over to the child or their legally appointed guardian on maturity.
  • You can choose the mode and frequency of the policy money pay-out at the outset. Buying the child insurance plan online and monitoring it online is easy as well.
  • You get the peace of mind knowing that your child’s future is secured and looked after whether you are there or not. More to the point, you are spared the possibility of someday having to refuse your child’s wishes owing to a lack of finances on your part.

Post Author: Fathiyya Al Shaikh

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