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Site / Link about child insurance policies
November 14, 2009 | Leave a Comment
Why would you consider an insurance policy for your children ? After all, children are not likely to earn an income for some time, so why would you want to have insurance for your children ? However, consider the insurance policy as an investment scheme that will provide for them as they grow up, and the money that they need for education, for travel, and for marriage purposes. Taking out an insurance policy in their name ensures that you will invest the regular sums of money required for this purposes, and brings in the discipline required for this investment. Now, there are a number of different schemes available for this purpose, and when I was looking at some resources on how to learn more for this purpose, I came across this site called Child Insurance India (link).
Q. Why one should go for child life insurance policies?
- You may not have adequate funding at the time of futue events which are indispensable for any child, viz., admission fees for the child’s higher education, fees for tuition and coaching, child’s etc. In these situations if you have taken a child life insurance policy in advance can solve all your financial problems.
Q. What happens if the proposer passes passes away?
- Child life plans provide cover for the child’s parent/legal guardian/grandparent for a specified term. That is, if the parent, guardian, or grandparent were to pass on, the child’s future is not put in jeopardy. In the event of such an occurrence, the child receives the Sum Assured in the policy plus bonus / participating profit/ guaranteed addition, if any, or the value of the investments, at a pre-determined age.
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