Is Having a Child Insurance Plan Really Worth the Cost? - PowerPoint PPT Presentation

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Is Having a Child Insurance Plan Really Worth the Cost?

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Child plans and policies offer security against constraints like inflation and rising educational expenses. Take a look at Best Child Insurance Plan and give your child the best gift of a secure financial future today. – PowerPoint PPT presentation

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Title: Is Having a Child Insurance Plan Really Worth the Cost?


1
Is Having a Child Insurance Plan Really Worth the
Cost?
2
  • When we talk about securing the future of our
    children, then a lot of investment instruments
    come in our mind in order to achieve the
    objective. As the upbringing of child is the
    major priority of every parent, it is important
    for every individual to do systematic planning in
    order to secure the future of the children.

3
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4
  • In order to fulfill the parents intension about
    providing best facilities for their children,
    numerous insurance companies have come up with
    child insurance plans. But prior investing in
    these plans it is important to know that how much
    beneficial it is. Are they really worth investing
    in? What are the best investment options for your
    child? To help you get the answer of these
    questions here we have discussed in details about
    how benefit it is to have a child insurance plan.

5
  • Child insurance plans are investment cum
    insurance plans offered by insurance companies
    and are similar as endowment and ULIP plans.
    Although, these plans have one difference i.e.
    Unlike ULIP and endowment plans, the parents need
    to invest in the child plan right from the time
    the child is born. Unlike child insurance plan
    the insured person can withdraw the saved amount
    once the child reaches to his/her adulthood.

6
  • Like endowment and ULIP plan, in child insurance
    plan a part of the premium paid goes towards
    paying the life coverage and the rest amount in
    invested in various investment instruments like
    equity, debt, etc. however, the portion deducted
    towards investment is very small, as the insurer
    deducts the premium allocation charge beforehand.
  • Resulting this, a very few part of the premium is
    invested during the initial years of the policy.
    Moreover, if the insured choose an option for any
    additional features provided by the insurance
    company like switching option or waiver of
    premium then the charges for the same is also
    deducted from the invested amount. So, initially
    these plans offer very low return and even if the
    insured end the plan without completing the
    tenure of the policy he/she might end up facing a
    loss.

7
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8
  • A child insurance plan secures the educational
    future of the children. The child education plan
    offers the dual benefit of saving come
    protection. The plan is designed to offer
    financial security to the child so that their
    education may not hindered in the case of any
    unfortunate event in future. Child education plan
    provides 10 times more sum assured amount with
    the minimum premium payment option. The lump-sum
    amount paid on child education plan can be
    further used for education expenditure.
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