Buy this plan to never let your child settle for less in the future
No matter how much you plan to save on your child’s behalf, it’s almost impossible to provide them with enough money to cover every single thing they might need as adults.
One way you can help ensure your child has money in their pocket and peace of mind in their heart is to invest in the best savings plan available in the market.
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Sat 21 Dec. 2024
If you’re thinking of buying one, here are 8 benefits you may want to consider before making the purchase.
#1 – Family Budget, Peace of Mind
You want to give your children the best possible start, but you are not sure if you can afford it, and that is understandable.
You might think that things like education or extracurricular activities are better investments than an insurance policy for their future. But consider this; how many times have you gone over your budget because of school supplies?
Or how often do they come home with new clothes after school events? And what about extra-curricular activities – these cost money too! These days there are so many new technology gadgets in the market, which can be very expensive.
All these expenditures might seem small at first but they add up quickly, and before you know it, half your monthly income has gone out the window without any return.
#2 – Your Child Gets Major Tax Deductions
One of the biggest benefits that you can reap out of investing in the best savings plan available in the Indian market, is that your child can be eligible for tax deductions. The exact amount will depend on various factors, including their country or state and which parent they reside with.
For example, if your company offers a medical coverage policy to all employees, and it covers dependents as well, you may be able to get more money back by enrolling them. Medical expenses can also add up quickly if your children are not covered under an existing plan.
#3 – Child Insurance Is Flexible
Child Insurance plans are very flexible and can be customized to suit the needs of any family. Indian families with children (or on their way) should consider investing in one as it will ensure that their children are cared for if something unfortunate happens to the parents.
The best part of investing in a best savings plan is that the parents’ coverage is not limited, so they can also benefit from this kind of protection. This would be great for families who have both an employed and unemployed parent, or those who might have one parent who chooses not to work for various reasons.
#4 – Investment Options are Many
With so many investment options available, it might be hard to decide which one is the best for you. Of course, every person and family has different needs, but this list will give you an idea of what you can do with the best savings plan that you have chosen for your child’s future.
#5 – Start Now and Watch the Money Grow!
The earlier you start investing for your child, the more time the money has to grow. With compounding interest, as long as you keep adding to the investment, it will grow and continue to grow until you retire.
Imagine how much better off financially you would be if you started saving for retirement when you were in your early 20s rather than waiting until 50 or 60 years old!
#6 – Healthcare Coverage is So Affordable!
Child medical care is so expensive that many families are hesitant to get coverage for their children. It can be hard to predict what will happen in the future, and most parents don’t want to pay for something they might never need.
Fortunately, not only does the best savings plan cover accidents and illnesses, but it also comes with affordable premium rates! What other reason do you need? Sign up today and put those worries behind you!
#7 – Long Term Peace of Mind For You, as well as Your Child
The peace of mind you get from knowing that your child will be taken care of should the worst happen is invaluable.
You’ll be able to move on knowing that even though you’re no longer with them, they’ll always have someone to take care of them.
#8 – Buy Now Before It Too Late
The one thing that every parent wants for their children is to provide them with the best possible life. This includes having the opportunity to go to college and be able to provide for themselves. Investing in a child insurance plan can help give them this opportunity.
Here are some of the top insurance companies that provide child plans available in India.
- Canara HSBC Life Insurance – iSelect Guaranteed Future Plan
- HDFC Life – Youngstar Super Premium Plan
- ICICI Pru – Smart Kid Solution
- Bajaj Allianz – Young Assure Plan
The Canara HSBC Life Insurance – iSelect Guaranteed Future Plan is a great way to protect your family’s future. iSelect Guaranteed Future Plan offers guaranteed insurance products that provide peace of mind knowing that you will always be able to provide for your loved ones in case something happens to you. In addition, iSelect Guaranteed Future Plan also offers other types of protection like critical illness and disability coverage so you can rest easy knowing that your family will be taken care of no matter what happens in life.
Conclusion
Your child’s future should be one of your top priorities, which means they will likely require financial support at some point during their lives.
A child insurance plan can help ensure that your offspring are always provided with the education, healthcare, and other benefits they need to lead successful, fulfilling lives as adults.
However, before signing your child up for one of these plans, it’s important to know the benefits it offers and how you can take full advantage of them.
