Saving For Your Child Is Important In India

by Roma Sharma adviser

If you’re like most parents, you want your child to have the best life possible. In India, the culture has been such that children, fulfil their parents’ unrealised dreams. Be it studying in a good school, attending a prestigious college, and maybe even graduating from a foreign university. These things are at the top of every parent’s mind when they plan for their child’s future. Today, this culture is being disowned as more and more parents have started adopting the idea that children should be left free to make their own choices and decisions. But, whatever the case may be with you, in both the scenarios, it is important to save money for your children.

A child plan, allows you to do just that. They are savings and investment plans which help accumulate corpus for your child and also provides life insurance cover. There are a lot of different plans you can choose for your child, and each one has its own benefits.

A money back plan is a savings plan that guarantees benefits at regular intervals of your child’s age. In this plan, your child receives periodic payouts at regular intervals that can be aligned with his/her different stages ofcareer.
Another variant of savings plan called endowment plan gives your child a lump sum amount after the policy period is over.,

These two plans provide safe investment options for your child’s future, and ensure your child’s financial safety and future is protected.

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Source: https://yourexpertguide.wordpress.com/2018/02/09/why-saving-for-your-child-is-important-in-india/