What can a Child Insurance Policy do for your Child

Posted by Jessy Jose on January 12th, 2018

The reason why most of us work hard is to earn good money for our families, so that they can have a good a comfortable life. It is our goal to provide all the luxuries of the world to our loved ones. Children are the most important parts of a person’s life. Insuring their child’s future is one of the main duties of a parent. Child investment plans and child savings plans are devised to ensure that your child always has enough money for his/her education, business or even wedding. Since they are devised for the safety of your child, a lot of people buy them for sentimental reasons, without putting much thought in it.

But child investment plans is not something you should take lightly. The decision to invest in a child insurance plan or a child education plan should be make with proper research and analysis. Here’s everything you need to know about child insurance plans in India.

  1. One of the most expensive affairs for a child is when they go for higher education or when they go for education abroad. It’s a huge expense to send your child abroad to study. This is the time when a child savings plan or a child education plan comes in handy. There are many child investment plans that are solely dedicated to your child’s education. These plans come at a minimum premium and pay you a lump sum at the time of maturity. They are often sufficient to pay for your child’s college and higher education and are especially helpful if your child wishes to study abroad.
  2. Not all child investment plans are education oriented though. Some child plans even allow the option of withdrawal during the tenure of the plan. This can be used for medical treatment of the child when he or she falls ill. Such partial withdrawals come in very handy when the child is hospitalised due to an ailment, minor accident or a more serious medical condition. The best child plan helps to reduce the financial burden caused by medical expenditure and such pay-outs act as an add-on for one’s health insurance plan.
  3. Child investment plans also help your child financial in case of your death. They make sure that your child is taken care of when it comes to their financial needs. Insurance companies offer a premium waiver if the parent passes away during the term of the policy. The child receives a lump sum amount promised at the time of purchasing the child investment plans and does not have to pay balance premium.

Jessy Jose

About the Author

Jessy Jose
Joined: November 29th, 2017
Articles Posted: 16

Passive Income - Effortlessly | Honeygain
Honeygain is the first-ever app that allows users to make money online by sharing their internet connection.
Earn Crypto with the COIN App!
Earn crypto on your Android or iOS Smartphone! Signup through this link and receive 1,000 free coins!
KuCoin | Cryptocurrency Exchange | Buy & Sell Bitcoin, Ethereum, and more
KuCoin is the most advanced and secure cryptocurrency exchange to buy and sell Bitcoin, Ethereum, Litecoin, TRON, USDT, NEO, XRP, KCS, and more. KuCoin also provide Excellent Support, Maker & Taker Transaction Fees, Open API
Earn Crypto with Stakecube
StakeCube is the predominant crypto ecosystem originally launched in June 2018 as PoS Pool and has since grown to service over 50,000 Users and supporting 55+ different crypto assets with unique features across 10+ apps, like an integrated Exchange, maste
CryptoTab Browser - Easy way for Bitcoin Mining | CryptoTab Browser
CryptoTab Browser is the world's first web browser with built-in mining features. Familiar Chrome user interface is perfectly combined with extremely fast mining speed. Mine and browse at the same time!
Coin Farm - online farm with money withdrawal
Coin Farm - online investment game with real money withdrawal. Buy birds, sell eggs for real money. Your passive income is here.