Child Insurance Plan: Catch them young

Child plan is insurance plan that financially secures your child's future and also serves as an investing tool.

By Priyadarshini Maji  
Wednesday, June 14, 2017

Child Insurance Plan- a product to secure the future of the child, by insuring the life of a parent. Child plan is insurance plan that financially secures your child's future and also serves as an investing tool. It is an insurance plan that helps to build a corpus over time to protect the future of the child and their expenses and also in case if the parents die. It is important to have a disciplined approach of investing and to create a safety net and not to lack in terms of money while providing platform for your child's higher education.

For example, the management course from IIM which cost around Rs20 lakhs today will cost around Rs60 lakhs in next 20 years at 7% assumed inflation. Similarly, a post graduation degree from a reputed foreign business school will cost around Rs50 lakh which will go up to 2 crore in next 20 year at 7% assumed inflation. "We try to make sure that the customer gets the money at the right time when it's needed; also at the same time there is enough time in the policy for the money to grow" says, Rishi Mathur, Head of Products and Strategy, Canara HSBC OBC Life Insurance

Features and benefits

Type of Insurance Plans Factors to keep in mind

 

 

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