There is a famous line from William Wordsworth’s poem: Child is the father of man!
In simple words it means that whatever you are and whatever you think as a child, that’s the kind of person you are going to be after growing up! The habits you have as a child will form the man in you in the future!
When you become a parent, you want to imbibe the very same good qualities and impart the same teachings and ethics that you have to your child for his/her better future. To ensure that your child grows to be a good human being and lives a happy and secure life, you need to follow certain habits and let those also get passed on to your children as well so that they can carry on the tradition! One of the most important things you can do for your child is to invest in a child insurance plan. You may say that you’re young and are going to be around to take care of him, but then why not have your child more resources, if he can!
Let’s help you understand how a child insurance plan can really be a boon for your child’s glorious future:
You have beautiful dreams for your child’s education and even your child might want to go for the moon! But would you be able to afford the moon when he grows up? Would education be economical enough to fit inside your pocket? Well, look around, the cost of good education in today’s times is going through the roof, think 15-20 years down the line and you’ll realise that you might need additional help. Investing in child insurance will ensure that by the time the policy matures, the investment you made over the years will eventually help your child in getting a higher education of his choice.
Paying premiums on insurance might seem a bit heavy on your budget, but consider your financial goals over the years. Right from your child’s primary education to higher education, his marriage and other important milestones in his life would require funds. This habit of saving money and investing in insurance will not only assure guaranteed returns, it will also mean that you’re safeguarding his future with regular savings. As it is said, rupee saved is rupee earned!
3) Health Emergencies
Gone are the days when people used to suffer from genetic diseases. With changing lifestyles and the world getting affected from newer and crazier diseases every other day, it becomes absolutely necessary to have an insurance cover to meet any health emergency. It is best to start investing in such a plan from childhood when your child is hale and hearty so that in future, if unfortunately the child happens to suffer from some disease, he will have adequate funds to get proper medical treatment. Health is still the best wealth that one can boast of and to save money for better maintenance and treatment of health related issues is the wisest of decisions!
You might save enough money for their education, but there are good chances that you still might be short of some amount. For those unforeseen circumstances, a child insurance policy will come most handy as it is widely accepted by all the financial institutions as collateral for loans for higher studies. This way your regular small savings over the years will result in getting your child his dream education!
Life expectancy is rising in our country thanks to better health care facilities, but there is still no guarantee of a long-life! Life is still fragile and in the unfortunate scenario of your death, your child’s life should not turn topsy-turvy, at least financially! The child’s education, day to day expenses and future should be insulated against such emergencies! Having an insurance policy is a safety net your child requires the most in your absence!
These may seem far-fetched ideas, but then nothing is certain in life. Every little bit of planning that you do and can do will go a long way in providing your child a beautiful future! Your habit of saving some amount to