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Wednesday, April 28, 2021

Features Of Child Insurance Plan Which Make It A Must Have Cover

If you thinking parenting a child is easy, think again. Being a parent is one of the biggest responsibilities you will have to undertake. Apart from making sure that your child’s basic needs like food, clothing, and shelter are taken care of, you also need to ensure that he or she gets the best quality education.A good education goes a long way when it comes to building a future. However, a good education also comes at a price, for which you need to be prepared financially.And the easiest way to secure your child’s future is by investing in a child saving plan.When it comes to a child insurance plan, there are a plethora of options to choose from. This could be confusing for some. Here are some features that make a child plan a must have cover.

·         Returns based on your tenure

The whole purpose of a child plan is wealth creation.However, some parents decide to invest since the birth of their child, while some wait until their child grows up a little. A good child insurance plan is one that gives a good return on your investment, based on your tenure.

·         Should have a premium waiver benefit

You may want your child to have a good future, but you also need to be prepared for the possibility that you may not be around to see any of it. A child saving plan comes with a premium waiver benefit, meaning, in case the parent dies, the insurance company waives the premiums and pays the nominee a pre-decided amount that will help the child.

·         Flexible payouts

The good child plan is one that allows you the option of flexible payouts. Your child’s future may include many milestones where you may need financial assistance. A child plan with flexible payouts will be helpful then.

·         Tax benefits

Did you know that the premiums you pay while investing in a child insurance plan are eligible to be exempted from the taxes? This makes it a great way to invest in the future while saving money in the present.

These are just some features that make a child saving plan a necessary and tempting investment option.

1 comment:

  1. Thank you for sharing such a useful information about Features Of Child Insurance Plan, Covered all the details and benefits of child insurance. For more details.Builders in Chennai


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