How a Children’s plans will secure your child’s future?
How a Children’s plans will secure your child’s future? YES, Every parent dream for his child, the best education and future. LIC Children’s plans are planned to help the parents shape the future of their children. The oldest player in the insurance sector, since 1956, LIC of India has been catering to the insurance needs of the entire nation. Being the only player till 2002, LIC grabbed the maximum market share and is still the tallest player in the market.
Children’s Insurance plans are nothing but to secure the future of the child by ensuring their education. Parents try to provide the best education to their children with whatever plans they have. Most of the family savings go for the education and the welfare of the child right from birth. Children’s plans are designed with the purpose of ensuring the child’s education and future.
Education and marriage planning are the two major requirements for a child, which require serious planning and execution. Survival benefits paid during periodic intervals help parents to achieve their goals. All Children’s plans have the option to add the Premium waiver Benefit (PWB) option, which ensures the continuation of the policy in case of any unexpected things happen to the policy proposer.
LIC Children plans are guaranteed Government of India. A small amount of investment started at a younger age for the child, would give the best returns and helps the child to complete his education and achieve greater heights in life. Parents need not worry about the investment and returns from the LIC of India. As most of the LIC Children plans comes with built-in Life Insurance cover, it works as a dual benefit scheme for the policyholder.
A simple Calculation says the Child may need Rs. 10 lakhs to 2 Crores for a complete Education in a good school and then a good college. Education costs are.
Parents should start the Child’s Education plans from age of 0 to 3 years. Insurance plans require some time to accumulate the bonus and give the best benefits. Maturity at the age of 18 to 20, starting at the age 0 to 3 would give the best returns. This would allow the parents to plan for the future also.