Tag Archive | "Child Insurance"

Become a Smart Parent By Buying The Best Child Plan

  • Easypolicy
  • 17 Jan 2014

The cost of education continues to grow unabatedly and if you want your child not to miss on his career goals for financial constraints, you need to plan for this now. An important aspect of successful parenting is to ensure that the child gets adequate financial support to pursue the education of his choice. The safest and perhaps the smartest way to ensure this is to get a child insurance plan. The best child plan combines the features of investment and insurance in a single plan, thus people can save themselves from the hassles of looking at two different plans.

How a Child Plan can help?

By buying child Policy parents are Assured of a bright future for their child, and this stands true even in the event of an unfortunate demise of the parent. You can customize the pay out depending on your specific needs. Child plans are also available in various tenures and you may choose the one that fulfils your objective and specific needs.

The Term plan would provide insurance, while the mutual fund would serve the objective of investment. The idea is good, but there are two drawbacks of this strategy.

1) A disciplinary issue is commonly observed in the case of mutual funds. People quite frequently skip investments in a mutual fund, especially when the markets are sinking or underperforming. However, in case of child insurance, it is quite unlikely to see such indiscipline. As the policy combines both insurance and investment, this is the last thing any parent would miss to pay for.

2) Discipline apart, the other important benefit that people forget is that child insurance has Premium Waiver clause or rider, which gets triggered in the event of an unfortunate demise of the parent. The family of the deceased is exempted from any future premium payment, while all the benefits related to the plan remain intact. 

Types of Child Plan

There are two variants as far as child plans are concerned - Child ULIP and child endowment plan. In case of a Child ULIP, majority of the funds flows into equity investments. However, the Insured has the choice of switching his money between funds. While, in case of Child Endowment, funds are invested in debt instruments.

There are many insurance companies who have a child plan as a part of the portfolio of their offerings and it would be prudent to compare child plan online so that you can buy the best online child plan.

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how to ensure the best child plan that suits your child's needs?

  • Easypolicy
  • 21 Nov 2012

Child insurance, or child policy, is something that every parent needs to think about and decide on, in the early stages of child’s growth. There are many reasons why you need to give child healthcare more than just a cursory thought – and the rising costs of living and the education and child healthcare costs that keep shooting up relentlessly are just a few aspects, for starters. So, when you buy child plan, it is in your own interest to conduct due diligence to ensure that you have the best child plan to suit your children’s needs.

The importance of child policy:

It would be no exaggeration to state that the very future of your child depends on the successful selection of the best child plan. While you could plan to all your heart’s desire, execution of benefits associated with child Policy depends on the kind of child insurance that you get. Child plan differs from one to another, and it is important that it is tailored to suit your unique circumstances and needs. The importance of child insurance is underlined by the fact that the future of the child is perfectly secured and is unaffected by any untoward occurrences in life that may come to afflict the family by sudden twists and turns of life.

How to ensure the best child plan that suits your child?

With many options, following a few simple steps would ensure that you get child plan that best suits your child.

•Check the reputation of the insurance company: One of the first steps that you need to take to get child plan is to check the reputation of the company that you are dealing with. It could be the direct parent company that is into child healthcare, or it could be the case of TPA’s that provide you with a range of options to choose in child policy. In any case, whom you deal with would be as important as what you get.

•Start early with child healthcare: Child insurance is designed to give the maximum benefits when you start off early. And the earlier you start, the better the value that you would derive out of child policy.

•Check the flexibility of child insurance: In a world of consumerism, there can be no standardization that would put you off or reduce your overall value when you buy child plan. This applies for the best child plan too – if it is not flexible to accommodate your needs, it may not be your kind of child healthcare.

•Balance your risks: This is an important factor that you need to consider when you buy child plan. It is a combination of insurance and returns that are designed to be paid back at predetermined milestones in life. Hence, it makes sense to go for high Risk exposure early on in your investments, and reduce the risk towards the later stages when the child policy approaches maturity. Do check with the provider of child insurance is this is indeed the case, when you buy child plan.

•Shop around for the best child plan: Last, but not the least, you would do well to use the power of the internet or other resources at hand to shop around and compare child insurance. This way, you would have options to choose from, know the pros and cons of the various choices, and be in a position to ensure the best child plan that suits your child.

compare online to get the best child insurance policy

  • Easypolicy
  • 05 Oct 2012

Explore the world of child insurance

Every parent wants to offer his or her kid with such best child plan, which comes in with maximum and long Term coverage. These plans are being designed and developed keeping in mind the requirements of modern age kids and level of competition that exists in every field of modern century. A well planned child insurance Policy can help the kids to deal with these complicated challenges and rise like a star to achieve their dreams.
Get the best one

Getting the best means you should buy a child policy that is appropriate for you and has long term benefits. This involves capability for futuristic decision making and a visionary approach towards the policies available. Being solely responsible to get child plan of best quality for your beloved kid, it becomes your prime obligation to look at the internal features of the policy you are going to buy.  You can explore the detailed information about plans available in the marketplace via the web.
Traditional plan:

Mainly two plans are covered under the traditional plan, including child money back plan and endowment plan.

Child Money Back Plan:

This is the life cover plan, which provides insurance benefits to the children instead of parents. Under this plan, that amount of sum Assured is paid in installments at regular periodic intervals. Apart from this, guaranteed additions and Loyalty Additions are also provided.  However, with some extra Premium amount, the Policyholder can also opt for premium Waiver benefit and term rider benefit for extensive protection.

Endowment plan:

This plan also falls under the category of traditional child plans. An inherent waiver of premium benefit is being offered by this plan. During the policy, if parent of any child dies, then the insurance company is liable to make the payment for Sum Assured amount. In addition to that, the future premiums are automatically waived off and the insurance company is liable to make payment of succeeding premiums. On the completion of policy, as per the Maturity date decided in advance, the child is being offered with accumulated annual bonuses and additional values if applicable.

Child Unit Linked Insurance Plan (ULIP)

Under Child Unit Linked Insurance Plan, the investment Risk is endured by the one, who is protected under the insurance policy. The plan is meant to provide life insurance to parents and in this plan the premium payer gets to save the installment of premium in the form of investment.  The built in premium being offered with the plan waives off the future premiums in the case of parents’ death. And, the company offers sum assured amount to the children. That’s not all; the company carries on making the payments of the premium and offers family income benefit at 5% to the nominee of the policy. The company pays fund once the plan reaches its maturity.

Plan the child insurance purchase via internet

This requires a lot of research and urgent need to compare child plan with ones available in the marketplace.

Searching for best yet cheap child plan has also become possible through the authentic insurance quote websites. Here, you can buy child plan keeping in mind your specific requirements and future of your child.