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Child Investment Plans – Best Financial Moves for New Parents

Aug 30, 2018 | 2 years ago | Read Time: 3 minutes | By iKnowledge Team

Child Investment Plans

Being new parents implies dealing with different set of challenges altogether. As a parent, something that holds utmost importance is the safety and security of your child. You want to give your child the best education, healthy life and take care of his or her daily needs. Presently you know you are around your kid, but what about the future? You need to prepare for the times when you may no longer be around.

Events like road accidents have increased substantially in the past few years. Sometimes the injuries inflicted from road accidents are so severe that they either lead to a loss of life or make one-physically disabled.  However, an event like this can have devastating outcomes for your family. Firstly, they might lose an important member or the breadwinner of the family and what follows cannot be put into words. To keep your family safe from such catastrophic situations, you can secure them financially by availing one of the following child investment plans.

  1. Term plans: Being the sole breadwinner of the house, you have the responsibility of looking after the well-being of the family. Every day you try to save as much money as you can so that your saved capital could be used for future events. While you are already saving money for the future, you can work smart and put your savings into good use. A term plan perhaps is the best way you can secure your children’s future. Availing a term plan is very easy as nowadays every insurance company has online web portals which can be used to buy or renew a term policy. There are numerous benefits of term insurance plan such as term insurance policies which offer high sum assured at low premiums. Some insurance companies offer cover for accidents, critical illness and disability at a nominal cost. Selected insurance providers like Aegon life offer insurance cover till the age of 100. They also offer an insurance policy called iTerm Plus with benefits like inbuilt life insurance and waiver of premiums in case of permanent illness and disability. 
  1. Child Insurance Plans: If you already have an insurance policy but still wish to buy one dedicated policy seeking the stability of your child’s future; you can opt for a child insurance plan. A child insurance plan is a policy which helps secure your child’s future through an insurance policy.
    Child Insurance plans can be considered as a good investment plan for child’s future as it offers periodic withdrawals. You can also put to use the money gained from insurance to finance your child’s needs in the future. Insurance providers also offer perks like higher maturity date and higher sum assured at a low The minimum entry age for a child insurance plan is 18 years while maximum entry age is 48 years. You can choose the duration of premium payment from monthly, half-yearly and yearly.
  1. ULIPs: A ULIP fund is a combination of insurance and stock market investment, it is ideal for people who are looking to foray into the stock market. From a parent’s point of view, ULIPs can help in wealth accumulation over time and keep you financially ready for the future. If you are searching for the best company for ULIP investments, you can consider Aegon life’s plan as long term investment for child. It offers numerous perks like Triple Benefits, premium redirection, low premium amount and tax benefits which make you financially stress-free.

Insurance can help you in many different ways to keep your child’s future financially secure. At the time of purchasing insurance, there are plenty of riders that you can avail and which are vital to increase protection. Some of the riders that you can opt for include  Critical illness rider, Disability rider, Accidental Death (AD) rider, Waiver of premium rider and Women’s critical illness rider.

Advt. no.: II/Aug 2018/ 4348


iTerm Plan

Life Insurance Plan with 3 Options to Choose from

  • Life Protect (Life cover till age 100 years)
  • Protect Plus (5% Automatic Increase of life cover)
  • Dual Protect (Protection + Regular Income)
iTerm Plus Plan

Life Insurance Plan with 4 Options to Choose from

  • Life Plan
  • Life Plus Plan
  • Life & Health Plan (10 Critical Illnesses covered)
  • Life & Health Plus Plan (36 Critical Illnesses covered)
iInvest Plan

iInvest Plan with 3 Options to Choose from

  • Increases Your Investment
  • Boost Your Fund Value
  • Withdraw Your Investment
Factors You Should Look for When Buying a Life Insurance
How to Plan a Secure Financial Future for Your Child From Birth
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