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Give your child a secured future with child plans

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Child insurance plans help you in shaping your child’s future by covering their education cost. Get best child investment plan right here. Click to know more – PowerPoint PPT presentation

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Title: Give your child a secured future with child plans


1
Give your child a secured future with child plans
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  • The arrival of your child brings a lot of
    happiness and enthusiasm in life. Parents may
    have just begun to rejoice the birth of their
    child and unknowingly years may pass by, which
    ultimately lead to worry about the future of
    their little ones. But you intend to give your
    child the best of everything and to attain this
    objective, you start investing in various
    instruments on your child's behalf. Looking at
    the escalating price of education, parents will
    have to start planning, save up a certain share
    of their income for further education of
    children. Education these days have become far
    too expensive, for which, one has to either move
    strategically or save money in advance so that
    low finances dont hinder childrens future.
    Well, there are many ways to secure your childs
    future such as savings, bonds, stock investments
    or mutual funds etc. but the one thing that
    insurance companies have introduced to capitalize
    the modern day parents' attention is Child
    plans. These plans have enticed many parents to
    invest on behalf of their children, with an
    ambition to secure their child's future.

3
  • Parents should understand that higher studies are
    like turning point of childs life, which would
    lead the child to build a career he or she is
    passionate about. Reserving your funds for a
    dedicated child education plan is something that
    the time demands. Child education plan is not an
    easy task and it needs proper planning and
    methodology with correct future projections so
    that your child doesnt lack behind in his or her
    education due to any financial insufficiencies.
    Since the child would be uncertain about the
    educational course they would want to pursue
    until they step into a degree college, parents
    have to be well prepared by then to spend on the
    desired course of their child.
  • A target has to be set to achieve the financial
    goals. The first thing would be building the plan
    for your childs education funds and finding out
    the target date for the child education goal. If
    you consider an average age till your child
    pursing his or her studies is 25 years then you
    will have to think about setting at least 3 basic
    target dates for his or her education high
    school fees, college funds and higher studies
    which might be going abroad as well. Accordingly,
    to this, you need to instruct your fund
    investment channels to meet the required target.

4
  • Inflation rates, advanced lifestyle, and growing
    expenses have to be considered while setting up
    the financial goals. So determine how much does
    it cost in todays value for giving education to
    your child. All of us have different aspirations
    when it comes to our child education, courses
    like MBA, Engineering, Pilot, doctor, Software
    related courses are on our minds. An amount of
    around 5-10 lacs that you feel to invest today
    will shoot up to Rs 10-30 lacs considering the
    inflation rate of around 6 per year.
  • Once you figure out the required amount that you
    need for your child education plan, start
    researching for good investment products which
    will help you build this corpus over the period
    of time. Also, dont forget to determine the rise
    in education cost per year. As per the recent
    year numbers, education costs are increasing at
    10 per annum. A decade ago you could have done
    an MBA at 1.25 or 1.5 lacs, but today it costs
    around 4-5 lacs. Education cost in our country
    has been increasing at the higher speed than
    other things.

5
  • There are several products in the market which
    claim to offer the best child plans. They are
    costly and complicated for most of the general
    investors. The simple concept would be proper
    financial planning is Dont invest if you dont
    understand it. Talk to your financial expert and
    take an advice. Child planning is not a childs
    play, it's about how well you play in the
    markets to build a secure education plan for your
    children.

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7
Click to know more on Child plans
https//www.bajajallianzlife.com/child-plans/child
-plans.jsp
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