Child Insurance Plan- Your Child's Companion from Beginning Till The End!
Letting your child take confident strides in the direction of a secure and blissful life ahead seldom happens on its own. The soft cushions of financial security are essential for a myriad of expenses that comes along with making one’s way through life, be it educational, medical or wedding costs. Child insurance has been brought into existence considering this long-standing reality into the picture.
Get The Best Of Both Sides With Child Plan!
Does a child insurance plan only perform the role of keeping your child secure in the face of unprecedented financial needs? With the dual function of a life insurance plan and a savings plan, the answer seems to be no. With regular premium payments to the child plan, you can end up accumulating a good corpus that can be withdrawn within a stipulated period. Upon the completion of the maturity period, child insurance can be used for all the expenses that will come along in your child’s path towards his/her dreams. Along with the premium bonuses, returns from a child insurance plan only become better as compared to what you invested.
In situations like the unfortunate demise of a parent, a Child Plan can indeed be of great benefit for the financial support your child would require. In a nutshell, a child insurance plan proves to be a good bet for ensuring your tiny tot remains steadfast in the face of exorbitant expenses that will become unavoidable in the milestones of his/her life.
Why Set Your Eyes On Child Insurance Plan?
With all being said and done about how a Child Plan holds your little ones’ hands tight through all financial immediacies as well as uncertainties, the question of why choose this over the gazillions of insurance plans out there is sure to pop up. Here is a look at some of the benefits you could avail of through a child insurance plan:
The premium payments for the Child Plan get waived off in unprecedented situations like the death of the policyholder.
Apart from the corpus funds that can be utilized after the maturity of the insurance policy, the accrued bonus benefit is the icing on the cake for all those who avail of the child insurance plan.
The Life Insurance Cover adds an extra protective layer of financial security for the family.
Tax Exemptions under Section 80 C and 10 (10 D) of the Income Tax Act 1961 are available for those who hold a child insurance plan.
Urgent financial needs arising during unforeseen situations are met with the loan facility extended through the Child Plan.
A child insurance plan offers flexibility for the individual to decide when he/she would want to avail of the returns. The sum obtained upon the maturity of the child insurance plan comes in handy in covering all kinds of expenses your child requires.
Types Of Child Plans- Make The Right Choice For Your Child!
Child Insurance Plans are of various types. Understanding them would go a long way in ensuring that you choose a child plan that is the most convenient to you as well as your child’s financial needs in the future.
Child Endowment Plans: In this type of Child Plan, the premiums paid at periodic intervals of time are accumulated and invested in fixed income securities. The funds can be accessed by the child upon the demise of a parent or when he/she attains the age of maturity. All kinds of expenses can be fulfilled with the maturity amount that is availed from a Child Endowment Plan.
Guaranteed Returns Plans: Be it the flexibility that is offered in premium payments or the pre-determined maturity periods you get to decide, a Guaranteed Returns Plan takes into consideration factors like your income and the child’s age to help you choose the most appropriate child plan for your little one.
