A secure future of the child is every parent’s desire. More often than not, a secure future starts with the thought of education. Ensuring that their children get the best education is a dream that every parent have in their eyes.
But, surmounting the inflation rate is a dreadful thought for many. Today, as per reports, cost of education is rising at a rate of 10-12% annually. In present times, parents spend close to 40% of their income on the education of their children.
If you can relate with the above stated facts, then you are no different than the parent next door. You will often find yourself asking what can be done to tackle this inflation and ensure the best education for my child.
The answer is child plan.
Before we move, further let’s understand what child plans actually are:
Furthermore, the child investment plans will also ensure that the children get an opportunity to fulfil their dreams and live a life on their terms without having to worry about finances.
Furthermore, some of the child insurance policies in Indiacome with built-in riders, such as waiver premium, accidental death benefit, accidental total and permanent disability benefit, etc.
The insurance companies pay the death benefit in case of demise of the policyholder. Also, insurance companies pay the premium on the behalf of the parents and the policy is continued till the tenure of the policy. All these aspects of the child insurance plans help in protecting the education of the child. This ensures that the education of the child continues without hindrance, even in case of death of parents.
A small investment today will go a long way tomorrow. Systematic planning and the right investment will ensure that the education of the child does not take a backseat for any reason. A child plan will ensure that financial security of the child and help them grow and prosper.
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