Five Reasons to Invest in a Child Insurance Plan

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Five Reasons to Invest in a Child Insurance
Plan 
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(No Transcript)
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Think of the day that your child was born and you
took him or her in your arms for the very first
time. That is the time you realised that this
tiny little bundle of joy you are holding in your
arms is your responsibility. You will be
nurturing, caring and making this tiny person
into a human being who is worth her salt. And
that indeed is no mean responsibility.As a
parent, your primary duty is therefore to protect
the future of your child, and a good way to start
is to invest in a child insurance plan. A child
insurance plan not only provides the security net
you would want for your child, it gives you the
benefits of investments as well. Here are five
good reasons why you should consider child
insurance plans, if you haven't secured your
child's future yet.
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Taking care of education Ask any
parent about his primary concern about his
child's future, and almost all will quip about
the escalating cost of education in the times
that we live in today. Putting your child through
a good school will not come cheap. Over and above
that as the years fly by, your child may decide
to go in for higher studies that will cost the
moon. If you plan well and invest in a child
insurance plan that matures during such times,
you financial burden will be relieved.
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A Habit of Saving

As we mentioned earlier, child care plans come
with the twin benefit of insurance and
investment. Before buying a child care plan, go
back to your financial plan and calculate the
need for funds during the various stages of life.
Calculate what you are saving for such as
primary and secondary education, higher studies,
marriage etc. Also take into consideration your
other responsibilities such as a mortgage etc and
zero in on a insurance scheme that is a perfect
fit with your financial plan. While initially it
may seem as a burden, paying periodical premiums
will soon become a habit that will put you in
good stead when your ward grows up. 
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Protection against serious illness
If there is a family history of some serious
illness, you must purchase a child insurance plan
at an early stage when your child is hale and
hearty. In later years if your child, God forbid,
were to fall prey to any such disease, the money
invested in a child insurance plan will come in
handy apart from your health insurance.
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Collateral for loansA child insurance plan is
also widely accepted by all banks as a collateral
if you want to take an education loan or personal
loan for your child. This will greatly help your
son or daughter when he or she requires a lump
sum for higher studies.
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Death of parentsOne does not like to be morbid,
but that having said you can never be too sure as
where and when death awaits you. In case of your
untimely demise, the insurer offers a waiver on
the premium on a child insurance plan and the
beneficiary (your child) receives a lump sum and
is no longer required to make the premium
payments.Thus as you can see, a child insurance
policy is like a stitch in time, and like the say
it can "save the nine" later and keeps your
child's future financially secure.  Read more
athttp//economictimes.indiatimes.com/articlesho
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Thank You.!!