Get Insurance for Your Child

| September 5, 2012
Get Insurance for Your Child

Get Insurance for Your Child

Many people started to save for their kids, since the time of their birth. It is eventually the responsibility of parents to secure their child’s future by investing smartly. Today parents save in the form of countless financial instruments to amass the corpus that may be used for their kids. Among all the concerns like education, marriage and any future business, education gets the top priority. It is the thing that haunts the minds of many parents. To facilitate higher education is the biggest challenge as the expenses are increasing day by day.

Investment in mutual funds and fixed deposits is in wide practice.

One can also think about investing in an education plan that will ensure that the money is available whenever the child need and even when the parents are not around. However, the most important thing in investment for child insurance is time. One should know that how much fund he may be able to build in a given time frame. This helps in having a clear picture of the investments. There are much child insurance plans available in the market and one has to choose the best plan after going through all the terms and conditions thoroughly. Child insurance is a saving cum investment plan that works perfectly and yield a sure shot return in a given time.

Highlighted features of a child insurance

A child insurance policy allows the children in realizing their future goals like higher education, to study in a foreign university etc. Its main advantage lies in the fact that it enables parents to start their investment in a much systematic manner. Parents can withdraw the savings once the child reaches adulthood. Child insurance provides cover for a child’s parent and guardian for a specified term. It also covers grandparents in case the parents are not alive. That is, if the parent, guardian, or grandparent passed away due to illness or any in any accident, then the child’s future is still secure. He will not feel helpless and felt that the future has been jeopardized.

Children receive the assured sum mentioned in the policy even if the parents are not alive. They will also get the bonus, participating profit if any or the value of investments, at a pre-determined age. The most promising aspect of a child insurance plan is that the money is clearly allocated for the use of the child at a target date for a precise purpose, be it education or marriage. The knowledge that you are able to secure your kids future through a children’s plan will give you the funds at the right time.

The claims in a child insurance plan

The claims in a child insurance plan are made out to the children and not to the parents. They receive disciplined and committed payment of premiums throughout the policy period. In a child insurance policy, one cannot use the saved corpus for any other purpose as there are no liquidity points like loans against policies. Finally, because of the risk cover provided under these policies, parents can be ensured that the goal of securing their child’s future will be definitely achieved.

 

Author Bio:

This post is written by Sachin. He loves to write on insurance and finance. He has written much on I See Me coupon code. If you having interest in reading and want to experience some good and affordable reading then look for Barnes and Noble coupon. You can search for them on net.

 

Get Insurance for Your Child

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