Why you should invest in a child education insurance plan?

Education costs are mounting high and inflation is making it a nightmare for providing education to your child. The way we dream for our children, they too have their individual goals to achieve. And your biggest responsibility is to ensure they continue getting all the facilities they need to get closer towards their ultimate objective.

However, without an exposure to quality education, there’s no impressive future. Preparing from the start for your child’s higher education will help in reducing your anxiety when the time comes to face it. It’s your child’s job to work hard and secure their position into the institute of their choice, but to ensure they can afford making that choice is yours.

How would you secure your child’s future with an Education Plan?

child education

A child plan, typically also a life insurance plan is an opportunity to contribute and build a corpus for your child’s future and higher education. The most important element of a child plan is, it not just provides a financial backup at various stages of your child’s education but also continues to support in case if the life assured passes away.

There are multiple units connected with a child plan, which also means that you can invest in multiple corpus building funds. Besides, there are lots of child plans available that have in-built different riders, covering accidental death benefit, permanent disability benefit rider, or accidental total. In an unfortunate case, if the policyholder passes away during the term, the insurance company provides the death benefit. This emphatically ensures that there are absolutely no hindrances on the way of your child’s education.

What are the benefits of a Child Plan?

  1. Secures your Child’s future
  2. Tax benefits
  3. Organised Financial plan for child’s education
  4. Investment and Protection
  5. Liquidity

It is advisable if the parent estimates the needed amount for their child’s education and marriage prior to investing in a Child Insurance Plan. With this clarity, they would have the capacity to choose the best cover with the needed time frame and related premium of the child life plan. One of the ways to be able to pick the best plan can be judged by comparing different policies, their premium amount per year and expected returns.

Remember, the best way to secure your child’s education is by making an adequate investment
in an education insurance plan which will eventually help you in balancing your overall portfolio
amidst risk, returns and protection. It is therefore an ideal decision to buy an insurance
plan/child plan along with other investments that you make for your child.

Image source: ThinkStock/Getty/Shutterstock

Leave a Reply


Notice: Undefined index: cookies in /home/misterti/hareepatti.com/wp-content/plugins/live-composer-page-builder/modules/tp-comments-form/module.php on line 1638

This site uses Akismet to reduce spam. Learn how your comment data is processed.