Why you should plan for childrens career?

Parenting brings along its own shares of joys and responsibilities. Successful parenting is not an easy task, but a challenging accomplishment. Parenting involves nurturing your child into a responsible person with a bright future.

The best gift that you can ever give your child is a bright future, and in this day and age, a great deal of your child's security lies in financial planning from an early age. When the time is right, you understand the need to be judicious and do your financial planning in order to figure out your child's needs with respect to higher education, college fees, accommodation, among others.

• Facility to avoid Capital Erosion: As markets fluctuate, the returns over investments vary. To make the best of the invested amount and save it from capital erosion, dynamic fund allocation strategy needs to be adopted. Child plans offer privileges of fund selection and Systematic Transfer Plan or STP to plan your investments as per expected returns required during different life stages. Through STP, you can automatically switch the purchased units of funds to make the best of market volatility.
• Options to Choose Riders: Certain plans will waive off the entire premium to be paid during the policy tenure if the insured person passes away. Similarly, riders such as personal accident insurance riderare useful if the person purchasing the plan is not around anymore, or is severely injured.
• Partial Withdrawals to Enhance your Child's Talent: If your child possesses a special talent, such as acting or instrument playing, you can nurture it further by making partial withdrawals from the child education plan. Moreover, certain plans come with periodic pay-outs that will be useful to meet the expenses incurred while enhancing your child's talent further.
• Support for your child's school fees: If the parent purchasing the child plan is not around anymore, then the insurance company pays around 10% of the sum assured immediately, and periodic annual pay-outs amounting to 10% of the sum assured are paid each year until the end of the policy tenure. These pay-outs are sufficient to pay your child's school fees in your absence.

Why you should buy Child Plan?

• Protect your child’s future, come what may
• Fund your child’s higher education
• Support your child in achieving his/her dreams
• Support your child in setting up his/her own business
• Focus on your child's development, free from financial worries