The primary reason to have a child insurance plan is to secure the child’s future and to meet the inevitable expenses in the future. It might include the ever increasing educational expenses or even for marriage.
- The main aspect of these plans includes in choosing the Maturity Age and Sum Assured for your child.
- You can pay the premium either as a one time payment or at regular intervals according to the plan.
- It is also possible to partial withdrawal, a feature that helps to save money at crucial points of your child’s life.
- ULIPs and Endowment are the two types of child insurance plans. Choose any one scheme that will suit your child’s requirements.
- However, investing in equity mutual funds through SIP is the most ideal way to get greater returns. Equity mutual funds will beat any other investments in the longer run.
A few leading child care schemes are Jeevan Ankur (LIC), ICICI PRU SmartKid RP, SBI Scholar II, Aviva Young Scholar Secure etc.