Children Plan

What is Children Plan?

A child plan is a tailor-made investment cum insurance option to meet the financial needs of a child. The insurance component is designed to protect the child from unfortunate events such as the demise of the parent wherein the child gets a fixed annual payment in case such an event occurs. The investment component is designed to meet the financial needs of the child through accumulation of money by investing in various instruments.

Types of Children Plan

Child ULIP

The child ULIP comes with three-pronged advantages including high insurance coverage, regular investments and contribution in the equity market. These benefits sum up to the result that the nominee child will be entitled to get the sum assured in the event of the demise of the parent or legal guardian.

Child Endowment Plans

The investments made by you are put into various debt products on the basis of the decisions made by the insurance company. Although the returns on such investments are not that huge, it gives guaranteed security to your money due to the very low level of risk involved with it.

Regular Premium Child Plan

The financial condition of every individual varies due to which many parents may not be able to pay for an annual premium in a go. This will allow them to continue with the plan without any break. Under such plans, the parents are required to pay the premium monthly, or half-yearly.

Benefits of Children Plan:

There are some benefits of children plan that are given below:

Child’s education
Medical Treatment for child
Financial support in the absence of parents
Collateral security
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          How do I choose an insurance plan for my child?
          Selecting an ideal child education plan is critical for the long term development of the child’s future. Given the competition for degrees and the spiraling cost of education, there is pressure on both parents and children when it comes to higher education,
          what are benefits of children plan?
          Child Plans provide the dual benefit of life insurance as well as investment. This policy enables the policyholder to secure their children's future; while simultaneously building up an investment corpus to help meet the major milestones in a child's life.
          why do chindren plan for education?
          A child education plan is a combination of investment and insurance. You can opt for the best saving. A child education plan is a safety net that would make your child feel as safe as it is in your arms. It will help them focus on their career without worrying about finances, even in your absence.
          How does child education insurance works?
          In our Child Education Insurance Plan, you pay premiums for a specified period (monthly, half-yearly, yearly or single pay). Once the policy term ends, you receive a lump-sum amount called the Maturity Benefit
          Can term be taken for kids?
          The term plan will give a lump-sum for the immediate needs of the family and further investments in the mutual fund will stop.
          What are child education plan?
          The Individualized Educational Plan (IEP) is a plan or program developed to ensure that a child who has a disability identified under the law and is attending an elementary or secondary educational institution receives specialized instruction and related services.

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