Child Plan
Child plans are insurance cum investment plans that help an individual create a corpus for children’s future, over a period of time (policy term). On maturity, these plans pay a lump sum amount which can be used to pay your child’s college fees or marriage expenses.
Benefits of Investing in the Best Child Plan
Help Save for Future Goals
The plan helps to create a financial cushion for the child’s secured future so that he/she can achieve the major milestones in life.
Education Cover
It can help you meet the expenses of your child’s future needs, even when you are not around
Health Cover
It is designed to cover the medical expenses incurred on hospitalization, vaccination and clinical check-ups of children.
FAQ About Child Plan
A life cover providing a fixed sum assured2 that is paid to your child in case of an unwanted event during the policy term. Waiver of premium in case of an unfortunate event. Lump sum amount paid at maturity of the policy to fund your child’s long-term life goals.
In a child plan, there are two components– insurance and investment. The insurance component is designed to protect the child from unfortunate events such as the demise of the parent wherein the child gets a fixed annual payment in case such an event occurs.
- A child education plan offers significant tax-saving benefits on both the premiums paid and on the policy benefits received upon maturity and during the policy term
Child plans are insurance cum investment plans that help an individual create a corpus for children’s future, over a period of time (policy term). On maturity, these plans pay a lump sum amount which can be used to pay your child’s college fees or marriage expenses.
Insurance companies have strict guidelines on whether they’ll issue life insurance policies on children. In most cases, only birth or adoptive parents, or court-appointed legal guardians, can take out life insurance on children under age 17.
Yes, you are free to buy child insurance policies for your kid. However, the maturity amount and the sum assured will be low as the plans generally mature when the child turns 18, allowing you only 3 years of premium payments.
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Om Sai Enterprises
The company was founded in 2017 with the sole purpose of enabling people to leverage the best financial consultancy and services