Every parent worries about their child’s secure future. Be it an ideal career, a big fat wedding, money for business etc. A child insurance plan provides both benefits of investment and insurance. Child insurance means investing in for a longer duration of time. There are child insurance policies which allow making occasional or periodic withdrawals before maturity of the plan. In general cases, Parents can buy such policies when a child is as young as 14 days and the policy matures when the child attains adulthood.
Importance Of HDFC Child Insurance Plan
Whenever we decide to take a decision, a step in a different road or take the plunge for any reason or certainly for anything, we always ask ourselves these three questions. Whether we ask ourselves these questions consciously or subconsciously, the cogs in the back of our head are always turning, always pondering over these three (seemingly small and simple) but incredibly vital questions - why are we doing this, what are we doing and how are we going to go about doing this.
The wheels keep turning in our mind till the time we find ourselves with satisfactory answers to all three questions. In fact, there is a whole TED talk done on how tech giants are able to succeed simply by using these three questions.
These three questions almost have the tendency to take on the appearance of a giant, when we put this in the context of our children. The weight of these questions seems bigger than ever, whenever we consider taking a decision for our children. And this is a feeling that seems to stay with parents.
Whether the child is 8 years old or 18 years old, the responsibility of investing on behalf of your child (or children) will always be there, often at times coming across as a heavy weight on your shoulders. Fortunately, there are whole companies out there who are willing to take this weight off of your shoulders and carry them for you and walk along with you, for however long you need.
One such option is to look into the various types of child plans that were available.
The current scenario of the education system has filled most, if not all, with a sense of impending doom as parents (both in rural as well as urban areas) are having to shell out more money for donation and fees for children’s primary and secondary education than their college degrees. The rate at which the cost of education (from school fees to tuition) has shot up from 2008 to 2015 is alarming and it is predictably only going to go up. In such a scenario, it is very much advisable to invest in your child’s future, for their higher education or for any other reason. A consistent investment in today’s world from you can provide for a secure future for your child, even in your absence.
Depending upon the type of plan you take, the various features involved can help you and your child out, be it by taking care of their education-related future or insurance plans. They help ensure your child’s protection and savings in a convenient way that is suitable for both the client and the company itself.
And now we have reached the question. Regardless of what the nature of any plan being shown, the main question that is close to falling from any clients lips, is what exactly is it that is required of them. From the client, it is required that they invest their time and educate themselves on these 2 plans -
This plan has been created keeping the holistic education that a child requires throughout their primary education going all the way up to their college education. Keeping any other miscellaneous expenditure (such as that for marriage) in mind as well, this policy aims to help cover any and all expenditure, leaving parents (and even the children) stress-free.
This policy is a ULIP (Unit Linked Insurance Plan), that is to say, a market-linked policy. The main purpose of this policy is to gather savings in such a manner that is can, later on, be utilized for your child’s future in any capacity as deemed fit.