help create a corpus for crucial stages in the child’s life
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.
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.
Mainly two plans are covered under the traditional plan, including child money back plan and endowment 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.
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.
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.
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.