Plan your kids' future today with Child Insurance Policy. Child Insurance Plans provides to higher education, to first job, marriage and things thereafter of your child.
Your family just expanded and you now have a new member - your beautiful baby. Life would have got a new meaning altogether and from now on your child is going to the centre of all your attention. You surely would want to give him all the joy and comfort in every possible way.
You will agree on the fact that the best of things have a certain cost attached to it. Are you ready to face them? Right from basic education, to higher education, to first job marriage and things thereafter, it is a long chain of events which require monetary involvements. Be smart; start investing on your child's behalf. Children insurance plans are becoming modern parents' choice of child investment plans. Not only the come with tax benefits but they also guarantee a return after a certain amount of time.
Broadly there are two kinds of child investment plans options available in child insurance policies. First are the traditional plans wherein the sum of the return at the maturity of the policy is guaranteed. The second type is ULIP (Unit Linked Insurance Plans) and in these plans a part of the premium is invested in various financial instruments. The part invested grows in handsome proportions over a longer period of time.
As a parent, start looking for child insurance plans for your child as early as possible. The early you start looking for a child future plan, the better returns you can seek. Of the types of child insurance policies existing, choose which suits you best. If you want a guaranteed sum on your child's investment, go for the traditional policy. So these child investment plans lets you to invest right from the time the child is born and you can withdraw the savings once the child reaches adulthood.
Flexibility is another important aspect in today's child investment plans in India. So if, in case, you want to withdraw money after some time, there are child insurance plans which allow intermediate withdrawals, at certain intervals.
Experts suggest going for a long term child investment plans as returns over a short period of time are low owing to various cost components which the insurance provider has to deal with. On the other hand, when the money is invested over a longer period of time, the returns become handsome as after a certain point the cost to insurance provider gets reduced.
A wisely chosen child investment plans can help you with planning accurately all the major events of your child's life right from education to marriage. Some plans come with inbuilt flexibility which can keep the policy active in case of death of the contributing parent and waives off the premium.
To conclude an insurance policy is must in today's world. Seeking the right one might take some involvement and investment in the form of time, but the results are surely going to pave the path to a brighter and happier future of your family.
Source: http://www.sooperarticles.com/finance-articles/insurance-articles/why-op...?