Good child policy

Which is a better option to invest in child insurance policy, ULIP or Endowment? Please tell good child policy.

Hi,

ULIP’s give individuals the advantage of good insurance coverage, investment and equity market participation. This means that the sum assured will be given to the nominated child in the event of the death of the insured parent. Also premiums in future will be waived and at the time of maturity the nominee child will receive the maturity value, which will take care of his or her financial requirements in the future.

Endowment plans are fairly similar except the maturity benefits aren’t as substantial as ULIPs. Some good child policies are:

• HDFC Life Youngster Udaan
• ICICI Prudential Smart Kid Plan
• Max Life Shiksha Plus Super

Want to go for a Life Insurance plan? Click here.

Cheers,
Team BB

Don’t know much about this. Sorry!