Child Insurance The Best Insurance Option for your Childs Future

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Child Insurance The Best Insurance Option for
your Childs Future
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• The utmost financial goal of any parents is to
  invest and save for their Children future.
  Children are the priciest possession of any
  parent. The child's joy, happiness and future
  mean a world to a parent. With educational costs
  sky rocketing and unexpected expenses at
  unexpected times, life comes packed with a lot of
  surprises. A happy and secure future of their
  Children is each parent's responsibility.

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• Today, a parent can plan and secure a child's
  financial future using some incredible tools that
  are available. Child Insurance plans are one
  such. It plays a significant role in assuring the
  Children a financial security when it comes to
  their future goals like higher education and
  marriage. Child insurance policies are nothing by
  life insurance policies that are created to cater
  to the financial requirements of a child when the
  need arises. By assessing when your child's
  academic or marriage need would arise you can
  choose a plan and an ideal goal based investing
  strategy that will mature right at the time when
  the goal materializes.

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• Child insurance not only benefits the Children,
  but also the parents. To begin with, it gives
  sufficient time for a parent to plan out the
  finances over a prolonged period and totally
  relieves them of major financial burden at a
  crucial time when a lump sum amount is needed.
  Over the period, the parent will be able to save
  small amounts, enough to suit their pocket and in
  the meanwhile be assured of a secure financial
  future for their beloved child. Technically, it
  is the parent/child's guardian who is essentially
  covered under a child plan in the best interest
  of the child.

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• It basically works like this - if the parent dies
  within the policy tenure, the Children can live a
  safe and comfortable life with the financial
  assistance provided by the policy. If the parent
  survives the policy period, the sum assured by
  the insurance policy chosen will be automatically
  credited towards the Children's education or
  marriage. It promises dual benefits of saving
  along with insurance.

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• A parent can purchase a policy soon after the
  Children is born and can invest in it for a
  maximum of up to 30 years. It is applicable for
  any Children below the age of 17. Usually, a
  maximum of Rs. 25,00,000 is the assured sum. A
  parent can avail a host of benefits if the
  premium amount is properly paid for the first
  three years.
• Child insurance plans in India have one other
  great advantage - in the case of a parent's
  death, the policy will continue till maturity and
  the insurance company will pay all future
  premiums on behalf of the parent for the
  Children. A parent just has to make sure that the
  policy they choose has a waiver of premium rider
  availble.