Among the many features
of child plans provided by life insurance companies, the premium waiver feature is a stand out feature.
Different companies offer different
Child plans which can be categorized based on the premium payment terms, benefits received and modes of investments.
The traditional
child plans offer safe returns on your invested premium amount to take care of the financial requirements for the child's education, higher education, marriage, etc..
Child plans from insurance companies are your best bet in planning for a child's future milestones.
There are many variants of
Child Plans as per your budget and needs; thus, it is always advisable to compare insurance quotes from various insurers.
It's a
traditional child plan which participates in the profits of the company by way of earning bonuses and promises guaranteed returns.
Many
child plans also offer a waiver of premium and a student income rider that allow the policy to stay in force even after the death of the primary insured.
Financial protection features in
child plans ensure that your child gets the best in the future even in your absence.
The
best child plan helps to reduce the financial burden caused by medical expenditure and such payouts act as an add - on for one's health insurance plan.
Most
child plans provide premium waiver either as an option or as a crucial feature in the plan.
Usually
child plans come with the bonus earning feature if they are offered as a traditional endowment plan.
Most child plans offer maturity benefit and start giving payouts at key milestones in life after the child turns 18 years old.
It has varied products
like Child plans, protection plans, saving plans, retirement plans and wealth management plans.
A young mother can save money every month and invest in
child plans so that there are adequate funds available at the time of her children's higher education.
Traditional
child plans do not offer investment steering in your hands rather the insurance company invests your money as per the regulator's guidelines.
Also, if you need more coverage for funding children's college education or special
needs child planning then the carrier may allow for more coverage as well.
There are
many child plans offered by insurance companies; however, certain things should be considered while choosing the best investment plan for a child.
Is a unit linked
child plan designed to provide market related returns to boost wealth creation for the child's future and also life insurance protection for coverage purposes.
Third,
since child plans tend to be long - term in nature, the insurance should have some exposure to equity.
The money
back child plan is a good way to save for your child's future and it may cover the life of the child also.
Read
how child plans can help you manage educational expenses in a convenient way.
The unit - linked
children plans make sure that the inflation does not have a major impact on the children's future needs.
We would like insurance buyers to think about us each time they think
about child plans.
Given that the benefits of such policies vary, it is essential to
compare child plans in the market before narrowing down your options.
Child plans serve two purposes — financially secure your child's future and finance the turning points of their life like college, marriage etc..
Traditional Child Insurance Plan: Traditional
child plans carry the twin benefits of savings and insurance.
Let us take a look at the
different child plans offered by the company and the features and benefits of each of the plans in details.
Online buying is the most unbiased, convenient and cost effective way to buy insurance plans
including child plans.
The death benefit in term plans is generally much more than that in endowment -
based child plans.
Why Child Plan is Important Pension plans have been around for decades in the market.
Child plans vary in duration depending on what one has selected at the beginning.
Comparing
various child plans will help you to buy a plan that ensures the longest policy term at lowest prices.
You can argue that we could have gone for higher sum assured in case of
child plan too.
For example, for a
typical child plan, payouts start when the child turns 13, and continue till he / she is 21.
Phrases with «child plan»