Child plans

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Child plans
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Child Insurance Plans - The Next Big Objective of
Insurance Agencies
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• After the flight of pension plans (sale of
  pension plans have boomed up dramatically in the
  past years), the next big thing, most insurance
  companies are targeting is Child Insurance Plan.
  Even Life Insurance Corporation of India, which
  majority targeted on Money Back and Term Plans,
  is now moving towards child plans.

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• Child Insurance Plans began from the Child age 0,
  so it's easy for most of the parents to plan the
  future of their "to-be-born" child. Child Plans -
  cut only for children are meant to cover the
  education, higher education and marriage needs.
  Sum assured or guaranteed returns are the main
  features of child plan. The main attraction,
  insurance companies like ICICI Prudential and
  HDFC insurance companies tap on is the Maturity
  Benefit Plan wherein the family need not pay
  further in case of insured parent death during
  the policy term and the policy continues with sum
  assured and the bonuses declared.

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• Tapping on other benefits, which in fact are
  beneficial, insurance companies are putting up
  their best. Child plans have some of the basic
  attractions like cheques when the child reaches a
  certain grade/class or age and beneficiary
  concept where beneficiary (in this case the
  child) is the sole person to receive the benefit.
  To add to the icing is the Tax benefit. Parent/s
  who is taking the child policy is eligible for
  Tax Benefit under Section 80C and Section 10(10D)
  of the Income Tax Act, 1961.
• Source- http//bit.ly/2qNC8Bi

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