Hello Dear Readers, Warm Greetings Of The Day, We Hope You Have Landed Here Just Because You Are Interested In Securing Your Loving Child/Children’s Future By Having An Appropriate Education Insurance Plan, So Today We Are Sharing A Very Important Article On
æ Child Education Plan: Secure Future Of Your Little Ones æ
Every Parent wants the best for their Child: Good Health, Best education, Happiness, and a Productive Career. And for all these things there is only one key and that is good education and training. For this, you have to secure your child’s future financially and give support at all the turning points of his life like Higher Education, Marriage, and other casualties.
To cover the double responsibility you should purchase a child plan that is specially designed to protect the future of your child in case of any unfortunate dimension at the same time, create a backup for your child in a form of Child education Insurance Policy.
Planning For Child Education
For every success, you do a full proof planning and since securing your child’s future is the biggest responsibility of your life so you also need to plan for these in a very well manner and if you fail then you could fall short of money because these days professional courses have high fees and maintenance charges which can’t be easily afforded by any middle-class family. And at this time you only get yourselves in trouble and start feeling hopeless. So, in order to give high skies to your child you definitely need a proper planning for your child’s education.
You Can Also Read
Points You Should Remember While Purchasing Child Education plan
There are some important points that are noticeable when you think for buying Child Education Plan. And before purchasing anything you must be fully aware about all the important points of that services or products.
- Select The Appropriate Child Education Insurance Policy Tenure
Firstly ensure that the policy term ranges from 5 to 25 years. Select an appropriate tenure according to the need of your child – that how soon you need the benefit of Child Education Insurance Plan. A good Child Education Policy is always flexible and so it’s tenure. Always remember that higher the policy tenure higher are the chances of fulfilling your objectives.
- Premium Payment Should Be Flexible
Always invest with the policy whose premium is flexible because you always feel comfortable with flexible premium options and it is a sign of an ideal Child Education Plan. Child education plans have annual, half yearly or the monthly payment options. Choose the premium payment option according to your convenience.
- Check The Clauses Of Partial Withdraw
You don’t know that actually when you will get a financial strike in your life, it is a very uncertain move of life, so for this emergency period Child Education Insurance must have a clause of Partial Withdrawal so that you can withdraw money whenever you are in an emergency.
- Start As Early As Possible
If you are ready to invest for your child’s special goals then start as early as possible funda will help you build a larger corpus for your child’s future goals. In most of the cases the insurance company of your child education plan starts giving maturity benefit at the age of 18 years of your child. To avail the benefit of maturity in the age of 18 years you have to start your Child Education Plan when your child is below 5 years old or he/she is 10 years of age.
- Premium Wavier Benefit: The best part of Child Plan is Wavier Premium, it gives full protection to your child after you – means Most of the Insurance Companies decide to waive off any future premiums in case of death of the parent during the premium paying term. And in this case the policy will not be affected and your child will be able to avail the complete benefits of maturity.
- Be Careful About Term & Condition: You should read and understand every aspect of the child plan mentioned in the terms and conditions and also the policy documents. As it is very important to understand your child plan’s functions, benefits, terms and conditions. You can also compare the various terms and conditions of different policies for having a better clarity and understanding of Child Education Insurance Plan.
Here Is The List Of Child Education Plans Which Are Currently Available In The Market & Their Benefits Along With Their functions
|Plan||Entry Age||Maturity Age||Type Of Plan||Minimum Premium||Sum Assured|
|PNB MetLife College Plan (Child Education Plan)||20 To 45 Years||Max. Age 69 Years||Money Back Plan||INR 18,000/-||Minimum INR 2,12,040/-|
|ICICI Prudential Smart Kid Assure Plan||20 To 49 Years||60 Years||ULIP||INR 48,000/-||
Up To 10 Times
The Annual Premium
Max Life Shiksha Plus Super Plan
|21 To 50 Years||
For 5 Pay – 60 Years
For Regular Pay – 65 Years
|ULIP||INR 25,000/-||Minimum INR 5,00,000/-|
|HDFC Life YoungStar Udaan||0 To 60 Years||18 Years||Money Back/Endowment||15% Of SA (Sum Assured)||Minimum Sum Assured Is Subject To Underwriting|
|Birla Sun Life Insurance-Vision Star Plan||18 To 25 Years||Max 75 Years||Traditional Endowment Plan||INR 22,392/-||
Documents Required For Child Education Plan
- Address Proof : Electricity Bill, Telephone Bill, Ration Card, Driving License Or Passport any one of these you can use as an address proof and the address should be mentioned very clearly on the documents you are providing.
- Age Proof : Birth Certificate, Mark Sheet of Class 10th or 12th, Passport, Voter ID ( Any One)
- Identity Proof : Birth Certificate, Passport, Voter ID, Driving License, PAN Card, Aadhaar Card (Any One Of Them )
- Income Proof : Salary Slip, Bank Statement As Income Proof Specifying The Income Of The Person Who Is Buying the Insurance Plan.
- Proposal Form : Proposal Form Should Be Duly Filled (It Is Required)
It is Important To Protect Our Children’s Future, As Steve Maraboli Said “What We Instill In Our Children Will Be The Foundation Upon Which They Build Their Future“
You Can Connect With Us On:
Join Our Telegram Channel – https://t.me/insurancemarketz
Join Our Telegram Group – http://bit.ly/2CR5zKD
Facebook Messenger – m.me/insurancemarketz
Like Us On Facebook – fb.me/insurancemarketz
Follow Us On Twitter – https://twitter.com/InsurancMarketz
Linkedin Account – linkedin.com/in/insurancemarketz
A Very Big Thank You, For Giving Your Precious Time In Reading Our Article, We Hope You Liked Our Article And If Any Suggestions Or You Want To Have Any More Information On A Particular Insurance Related Term Or Policies Please Share Your Valuable Thoughts In The Comment Box Provided Below.