Benefits of buying child plan

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Benefits of buying child plan

Benefits of buying child plan

Child Plan what is all about?Child plan is plan that secures your child's future and build stronger financial security. The benefits will be forwarded to the child at various important junctions of his/her life such as education, marriage, mortgage payment etc.

Types of Child Plans -Take Your PickChild ULIPs- A fraction of the premium flows into debt instruments and the rest into equity instruments. The decision of switching between funds remains in hands of the insured. Since it's a market linked plan, the return is decided by the net value of the assets at the maturity period.Child Endowment Plans- The premium flows into debt instruments, the decision of which is at the discretion of the insurance company. Return is decided by bonus payable on maturity.

Why to take child insurance policy?Provide financial security for your child even on your death. Enjoy tax benefitsEnjoy dual benefits of insurance as well as real returnsOption of placing the policy as collateral to raise a loan after a lock-in period. Investing in child plans is a prudent way to ensure that your money grows with time.

When should I buy a child plan?

Ideally, you should buy a child plan as soon as early as possible. This allows you to accumulate more funds towards the maturity amount. Also, the younger and healthier a person is, the lower will be premiums associated with insuring them.

Tips for buying Child PlansStart financial planning and invest to secure your childs future as soon as possible. Always invest in plans offering premium wavier benefit. The premium amount will highly depend on the assured sum and the maturity amount preferred by policy buyer.If you have sufficient funds, then opt for a one-time payment. Opt for a plan that offers a good mix of capital protection and growth.Compare the child plan price quotes from different insurance providers prior purchasing them.

Do I Really Need a Child Education Policy?Yes, you do! Let Us Help You

At Maxlife Insurance, we provide best child plan to every parent to ensure a bright future for your children.