How To make Your Child's Future Secure
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How To make Your Child's Future Secure

  • Highlights

  • Plan your child’s future

  • Opt for flexible payout options

  • Invest in the best child savings plan

  • Choose a child savings plan carefully

With constantly increasing inflation, you are bound to think about your child’s financial future. However, instead of devising ways to save money, start making investments that let you multiply the investment amount while beating inflation. Just as pension plans are important for your retirement, choosing a child savings plan will help you provide your child with a financial safety net as well.

To get the best coverage, you can buy a Child Insurance Policy through companies like Bajaj Finserv and enjoy benefits such as easy application, comprehensive coverage, competitive premiums, guaranteed benefits and bonuses, flexible payout options and tax benefits too. Besides, you can choose from a range of child insurance plans such as child education plan to cater to specific needs.

For a closer look at why you should invest in a child savings plan, take a look at its benefits.

Payout periods

Most child savings plans come with flexible payout options. This means that you can avail benefits periodically, as per the intervals that you have chosen. This will allow you to attend to your child’s needs at various stages in his/her life in a more focused way. You will be able to meet long-term as well as short-term needs with equal ease. You can choose payout periods based on your child’s age and his/her future aspirations.

Premium waiver

You may worry about what will happen to the policy if something unfortunate happens to you before you have paid all the premiums towards the child savings plan. You can breathe easy as most policy providers offer financial support to your child in such a situation. Your family will benefit from the premium waiver feature that comes with a good child savings plan, and will also receive a lump sum amount from the insurer. So, make sure the policy you choose comes with this feature.

Higher education loan

Taking a personal loan to fund your child’s higher education is one way in which you can finance this need. However, personal loans are unsecured and so, they carry a high rate of interest. So, by pledging a child savings plan, you can secure finance through a loan but make borrowing funds for your child’s education more flexible and affordable.

You must start investing at the earliest opportunity to ensure that a lack of finances doesn’t come in the way of your children’s ambitions and growth. Once you decide to secure your children’s future with a child savings plan, check your pre-approved insurance offer from trusted aggregators like Bajaj Finserv and apply online with ease.

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