Parenting brings along with it its share of joys and responsibilities too. Parenting is not an easy task and even though it is challenging, it is an achievement in itself. A parent becomes successful in raising a child, only when she/he becomes successful.
The best gift which can be given to any child is that of a bright and secure future. To achieve that, the best recourse is to invest in a child insurance plan. There are a number of schemes available today, but most parents tend to get confused as to which one would be the best.
Here are thus a few points to help you choose the right one -
Premium Waiver Benefits
Many children plans these days come with a waiver advantage, either as a part of the plan or as an option. What this does is ensures that in the death of the parent, future premium charges are waived off till the time of maturity. It also ensures that the maturity benefit which had been set for a certain age remains on track apart from the death benefit which is provided.
If you have the appetite to take risks and have time on your hands for let’s say ten years, then you can opt for unit-linked child plans. This ensures that you remain invested and get a good return on investment at the end of the tenor. However, such plans are subject to the uncertainties of the market and you should thus ensure that you factor that into your plans.
Simple Endowment Plans
If you believe that you will not be able to stomach the uncertainties of the market, then simple endowment plans are what you should opt for.
More Related Topic: When Should You Plan For Your Child’s Future?
Alisha Antil is your best financial helper for insurance. She has a vast experience in finance and insurance and provide to you the expert advise in insuring your property and health. She has in depth knowledge and has written more than 1200 blogs on topics related home and car insurance. She also provide you with knowledge about home improvement and cooking.