Top 10 Tips To Buy Child Insurance Plans

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10 Best Tips to Buy Child Plans

• Health Insurance Advisor
• Child Insurance Advisor
• Term Insurance Advisor

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Tip 1 -

• Start financial planning and invest to secure
  your childs future as soon as possible.
  Insurance companies offer child plans mostly with
  maturity benefits, the payouts are released at
  crucial life stages from 18 years onwards. A
  child plan provides a long horizon to invest,
  facilitating you to methodically build a corpus.
  So, choose a childs plan, which encourages long
  term investment.

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Tip 2 -

• Parents, when investing in a child plan must
  understand that the funds will be utilized only
  in future. Thus, it is essential to estimate the
  inflation and rising cost of education. Doing so,
  would allow you to invest wisely and build a good
  corpus. It is also essential to know the time
  frames when you need to get the returns.

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Tip 3 -

• Always invest in plans offering premium wavier
  benefit. This stipulation enables the child plan
  to continue, even in case of the policy holders
  death. The child will be covered with all the
  benefits, even if the parent becomes disabled or
  cannot pay the insurance premiums. Thus, this
  option ensures that the maturity benefit agreed
  upon for the policy term will remain intact as
  planned. Most child plans provide premium waiver
  either as an option or as a crucial feature in
  the plan.

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Tip 4 -

• The premium amount will highly depend on the
  assured sum and the maturity amount preferred by
  policy buyer.

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Tip 5 -

• Knowing the different premium payment modes is
  beneficial. If you have sufficient funds, then
  opt for a one-time payment. Alternatively, you
  can opt to pay premiums on annual basis,
  half-yearly or quarterly basis.

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Tip 6 -

• Ensure that you invest in such a plan that offers
  a well balanced mix of growth and debt funds.
  Also, make sure that you opt for a plan that
  offers a good mix of capital protection and
  growth.

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Tip 7 -

• Choose a plan having system transfer option to
  assure that your gains in the child plan
  investment are well protected. Also, take
  adequate risk cover option to ensure that the
  death benefit is a considerable lump sum, which
  can aid your child and family in case of your
  demise.

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Tip 8 -

• The insurance policy term which you choose should
  be according to the financial requirements of
  your child at different stages of his life.

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Tip 9 -

• Estimate the total sum assured, which you would
  need at the time when the plan matures and invest
  accordingly.

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Tip 10 -

• There are several child plans to suit your budget
  and needs. Compare the child plan price quotes
  from different insurance providers prior
  purchasing them. You should only buy the best
  suited plan from a reliable provider.

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Thank You..