How to Choose the Right Insurance for Your Child? (1)

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HOW TO CHOOSE THE RIGHT INSURANCE FOR YOUR CHILD?
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What is child plan?

• A child plan is an insurance cum investment plan
  that provides financial security to your child
  help him meet his future milestones like
  education marriage etc.
• The plan provides him financial support even in
  case of your unfortunate demise.
• A child plan continues even after the death of
  the policyholder provide maturity benefit to
  the nominee.

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Features of a typical child plan

• Premium amount is dependent on the sum assured
  maturity amount
• Regular mode of premium payment in which the
  premium is paid regularly (like yearly, half
  yearly or even quarterly). Or it can be single
  mode of premium in which the whole premium is
  paid as a single payment.
• The assured sum should be around 10 times your
  present income.
• Policy term for a child plan is the ideal time
  when your child get on his feet. E.g. if he is 5
  years old then the policy term could be 13 years

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• Maturity Amount is the amount that you would
  require at the end of the policy term.
• Waiver of Premium If the insured person dies,
  the policy continues by passing off the financial
  burden to pay the rest of the premium to the
  insurer.
• To meet financial needs of a kid at key moments
  in his life, partial withdrawals can be done.

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Benefits of a child plan

• Premium Waiver Benefit
• Accidental Death and Disability Benefit
• Critical Illness Rider Benefit

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Why you must have a child insurance plan ?

• To meet rising cost of education for your child
• To meet their family childs future assets in
  case of his unfortunate death
• Cover the risk of early death of the policyholder
  by providing the lump sum amount, the policy
  doesnt end here. ..
• The insurance company continues investing this
  money on behalf of the policyholder. Thus the
  child can waive all future premiums

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How to select the right child plan?

• Engage an insurance advisor
• Calculate the life cover
• Compare insurance plans
• The companies like AvivaIndia, Shriramlife,
  Sbilife etc. provides best child insurance plans
  in India.
• You can compare the different schemes opt the
  best one as per your child future requirements.

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• THANKS!