Children's Day: Gift Your Younger One a Child Insurance Plan

Pursuing worthwhile objectives consistent with our purpose is crucial to creating and sustaining a happy life. In the end, achieving our goals makes us emotionally happier and more content with our lives. When it comes to children, every parent wishes to fulfil their child's dream no matter what it takes, which is the importance of children's day.

Children's day is also excellent for giving your child the perfect gift, and what can be better than offering your child the best child insurance plan? Consolidating the funds required to secure your children's future can be incredibly beneficial through systematic financial investment from an early age.

Importance of Child Insurance Plans

Your child's safety is protected by child insurance, which also includes an investment element. The life insurance component ensures that even if something were to happen, your child would still have access to financial security. You can increase your savings and safeguard your child's future with the investment component. You can use the money you save to cover your child's future educational and career goals. Let's fully comprehend the significance of child insurance:

• Beneficial for Higher Education: if you want your child to fulfil their dreams of going to college, university, or abroad, having the best child insurance is the way forward. Thanks to the child's plans, you will always have money when you need it most.
• Financial Stability: Child insurance plans work in tandem with your child's financial needs. You won't have to worry about how the future will look in your absence. Child plans offer financial stability.
• Investment Instrument: You can accumulate a sizeable sum for the child using the investment options. If you pay your premium on time, you will be able to fulfil your obligations in the future with no issues.
• The benefit of Income: A few child plans provide recurring payments to kids of 1% of the assured sum. Ensuring you receive an income benefit makes purchasing child plans advantageous.

What is the Right Child Policy?

The long-term development of the child's future depends on choosing the best educational strategy. Therefore, to attain the maximum benefit, you must choose the best child insurance plan for your child. The most important factors determining the decision are the need and purpose. Here are some tips to consider:

• Buy the plan that offers a premium waiver benefit.
• Select the right investment fund.
• Compare child insurance policies online.
• Buy as early as possible.

Best Child Insurance Plans in India in 2022

Here is the list of top child insurance plans in India:

*The order of the plans are not based on the ranking.

**Premiums in this table are calculated for a fixed sum of INR 1,00,000.

Bottom Line

"Give your child wings to fly". Child plan calculators that are available online can help you in this regard. However, determining an exact corpus amount for your children's future is essential before investing in a child plan. Many riders are also available with child policies that can enhance your plan. Ask questions about them, then decide based on what you need. Some benefits might come at an additional cost.