You always thought your daughter would follow in your footsteps and join a top law college in the country. However, one day she comes and tells you she wants to go to Madrid and study fashion. Suddenly you find yourself staring at an uncertain future - you do not know where to arrange the funds from. Desperate, you look at all the options available, but the time for admission beats you and your daughter's dreams of attending college in Milan are shattered. Sounds depressing to you, does it? Well, this may just be a hypothetic way to look at a situation 15 years down the line, but as a parent you must secure your child's future and make all the necessary investments so that she is never left without an opportunity to follow her dreams. When planning for a Child Plan, one must take into consideration the Education Inflation as well, which is at least 15% or so and way above the regular inflation figures.
There are quite a few good Child Insurance Plans in the industry today that allow you to do just this. Read on to know all about the Child Plans, what they have on offer and how exactly they can help you and your child.
Definition of a Child Plan insurance policy
As per the insurance dictionary, a Child Plan is described as an endowment plan where the parent is the policyholder and the child is the beneficiary.
Importance and usefulness of a Child Plan
You can purchase a Child Plan as soon as your child is 3 months old. It is advisable to purchase the plan as early as possible as this way you can save more and that too conveniently. A Child Plan is a secured investment with almost no risk involved and you are assured to get your money back. So cement the blocks to make your child's future strong and safe. This is perhaps is the best gift you can give your child in life.
The author is the CEO of MyInsuranceClub.com, an online insurance price & features comparison portal
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You may write to the author at Deepak@myinsuranceclub.com