When we are young, we are always surrounded by our parents. Now, with the change in market dynamics, with the introduction of new investment planning tools and plans, child plan becomes the top most priority to serve this purpose. Child plan is both – an investment plan also serving insurance benefit.
Why buy child insurance plan?
A Child Plan serves the following purposes
- It has insurance element embedded in it. Hence, in case when you are not around, this plan may help your family financially recover from such a great loss of theirs.
- It secures child’s future.
- It helps in important milestone’s of your child’s life Example – marriage, higher education etc.
Real time scenarios can help you decide whether you require a child insurance plan or not. Today, if your child wishes to become an engineer, the fees would range anywhere between 4 lacs to 10 lacs for the entire course. Imagining your child to be just born, just imagine the inflation in the fee for the same course after 20 years. We all have witnessed education being costlier and more costlier every year. And with the family expenses, educating your child in a reputed college would cost you a lot of money. Hence, this is the time when you can start saving money for your child which can be oh help in future.
Popular Child Insurance Plans in India
- Aviva young scholar advantage plan
- Metlife college plan
- SBI life smart scholar
- Max life shiksha plus plan and many more.