Childrens Life Insurance - A Must Have! from animesh's blog

In today's competitive world, providing best education to the children has become the top priority of all parents. To give the highest quality education possible, the parents need to spend huge amounts in education fee. There are numerous child insurance policies to meet the differential needs of demanding clients (usually parents or guardians).


Factors to be considered while taking a Children Insurance Policy:


1) Make an approximate estimate of the funds you require for child education or marriage. With this information handy, you will be correctly able to decide the regular premium allocation required and the duration of your child's life insurance.

2) Find out about additional benefits like health insurance, accident cover etc.

Compare the annual premium charged and returns offered by various child insurance India plans of different insurance companies.

3) Make sure to ensure your life rather than the child's. Also, it is beneficial to by an insurance policy that has a built in clause about waiver of future premiums in case of death of the insured (parent). This will guarantee that the policy continues no matter what and your child receives an assured sum at maturity.

4) Check the past performance record of the company you are purchasing child insurance from.

It is always advisable to buy the policy in the parent's name rather than the child's, since the child any way has no dependents. Still if you plan to take a policy in the child's name, make sure that it is a premium waiver policy in case of death of the parent. This way your child will not shoulder the burden of regular premium payments and continue to reap the life insurance policy benefits.

5) Child Plans policies generally attract tax benefits. Find out if the policy you are considering has any such advantages.


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By animesh
Added Apr 21



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