Choosing the best possible path to secure your Child’s future

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Best Child Insurance Plan
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Choosing the best possible path to secure your
Childs future
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• Selecting an insurance policy for your child can
  be one of the best ways to secure their future.
  Child plans primarily aid them in higher
  education and marriage expenses. In the event of
  loss of the breadwinner of the family, a child
  plan can safeguard the childs future.
• If the parent were to meet with an unfortunate
  event your childs needs would still be taken
  care of. So essentially, the child insurance plan
  provides a life cover for the financial needs of
  your children and lump-sum money is also paid out
  to the child as well.
• The plan will continue till maturity after the
  death of the parent and all the future premiums
  will be paid out by the insurance company! This
  unique feature is called Waiver of Premium. Thus,
  the child under all circumstances will receive
  the maturity amount.
• The second part of the plan is the investment
  component where these plans invest their money
  according to plan chosen by them. It may be
  either a Unit linked plan or a traditional plan.
  In case, it is a unit linked plan, then the
  investor can choose from the various fund options
  under the policy.

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• While choosing the Best Child Insurance Plan one
  must keep certain important factors in mind such
  as
• Gauge your requirement
• Planning for your childs future should start as
  soon as he/she becomes a part of your world.
  Starting early will help you keep ahead of your
  childs requirements. Invest such that you get
  optimal returns and ensure that the child gets
  the money no matter what the circumstances.
• Check Features
• All plans have different characteristics. One
  need to minutely differentiate between the
  various features of policies according to
  specific needs and then choose the best child
  plan which best suits their needs.
• Flexibility
• Child plans allow partial withdrawals this
  proves useful to take care of urgent needs
  without disturbing the regular expenses and
  income matrix. The flexibility to switch
  investments from one fund to another lets you
  capitalize on the market conditions and
  gain/protect yourself from market volatilities.

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Things to be careful of When finalizing the best
child plan, make sure you have a trusted
appointee for the plan. In case of your absence,
the appointee should be capable of taking care of
your child in the best possible way till your
child becomes capable of handling his/her
responsibility himself/herself. Conclusion You
should do some research and compare plans either
on the grounds of safety and investments to
consider them individually or in a combination to
chalk out the best child plan which suits you.
The sooner you sow these seeds of savings and
investments, better are the chances of your money
growing into a big enough tree to provide the
desired fruits for the future needs of your
children.
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