help create a corpus for crucial stages in the child’s life
There can be no compromises as far as ensuring a safe and healthy future of a child is concerned. With every parent's dream being built around their child's future, it is no wonder that child insurance has taken such centre-stage in today’s society. And these plans have become such renowned modes of investment in India, not without reason. It is an investment that is made with clear view of the future – and that is the way it is supposed to be.
While newer versions and updates keep appearing on the insurance horizon, the best way to choose one that suits you the best is to compare child plan and see how it fares in the whole range of options available. And in this age of the internet and instant communication, online plan could be an ideal way to begin your search for the best child insurance.
Search for the best plan, and you would invariably find options provided by insurance firms. Pioneered many years ago, these versions that have evolved in the form of online plans still continue to be the favourites among them. While they are arguably more expensive, considering the fact that they tend to combine investment with insurance, you would still be able to enjoy the distinct advantage of predictability – you have control over key aspects such as Maturity dates and plan payouts based on projected milestones and key dates, such as graduation or wedding, well in advance.
If you are looking for insurance, returns, and flexibility in terms of withdrawal when needed, you should be considering Unit Linked Insurance Plans (ULIPs). On the negative side, of course, would be their tendency to fluctuate in value with the unpredictability of the market that they are invested in. You have online child plans available that are unit-linked too.
If you would want to play it safe and would also want to have lump sums made available at selected periods in the future, you should be after money-back plans. They are traditional options with the benefits of maturity amounts that are attractive at one shot. However, you may not enjoy the flexibility that you could expect in some of the other forms of child insurance. Again, the best plan depends on what you want out of it.
Online child plans and other forms of child insurance come with the benefit of Riders – they are additional options that you could choose from to make them tailor-made to your needs, demands, and preferences. You could use the advantages associated with the Waiver of Premium rider, for instance, which would waive off premiums to be paid, should there be an unfortunate event in the life of the insured
As you could see, child Policy is very much pliable and flexible to suit your needs – you would only have to apply your mind and compare child plan to make the most of your investment, in terms of safety, returns, and peace of mind