Child Insurance Plan

help create a corpus for crucial stages in the child’s life

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Child Plan: Best Way to Secure your Child's Future!

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Uncertainty is part of life and we need to accept it. However, remaining alert and taking timely decisions can be a good remedy against the ill effects of life’s uncertainties.
As parents we tend to be worried whether our child would be able to pursue the education of his choice. We also worry as to whether or not we would be able to secure enough savings that would be sufficient to meet the growing cost of education

Inflation is a monster that eats into the purchasing power of the limited savings we manage to make every year. As far as education costs are concerned, the rate of Inflation is far higher than the general inflation rate. It becomes really difficult for savings to catch up with the growing costs unless these savings are channeled in the right investments.

To understand the effect of inflation let us take an example. If education costs in a good college costs Rs 5 lakh today, and the inflation rate is 8%, for your child to afford the same education ten years down the line would mean that you need to spend double the amount. It is important that you plan well in advance to ensure that the inflation costs don’t intervene in the progress of your child’s career.

In such a scenario, the best way to ensure you child’s future is to buy a child plan. The child plan ensures that the savings you make every year is channeled into the best investment options and provides you optimal return which is commensurate to your Risk appetite. A child plan offers various fund options. These fund options allow parents to choose the right mix of debt and equity for their savings. Usually, if the investment time horizon is long enough it is prudent to channel a larger proportion of savings into equity while make minimal allocation to debt. The mix between debt and equity can be changed in favour of debt as the time to Maturity approaches nearer.

A child plan not just provides you with the expertise of fund management but it also insures you against the uncertainties of life and death. In case of an unfortunate early demise of the Insured parent the child plan disburses a Death Benefit so that the family can take care of its ongoing running expenses. The child plan continues even after the death of the parent till maturity and Premium payment liability is taken care of by the insurance company.

If you are serious about securing your child’s future, the best way is to buy a child plan today.