Smart Child Planning You Must Check Out Now From LICby Kk Agrawal VA FINANCIAL SERVICES
Child planning or child-insurance plan is an insurance policy that has been created to provide financial security for your child's future. A child plan also acts as an investment plan.
How is This Possible?
This is because the amount invested in child policy can be used to fulfil your child's future finances during their significant years, for example, higher education or marriage For example, studies at the MBA or abroad, or weddings are quite expensive these days.
Child plans helps overcome the shortage of moment and helps your child fulfill his dreams. Typically, child insurance covers the life of parents who have a minor child to take care of. This is a very important matter for the child.
However, the benefits of the scheme are given to the children when they reach a certain age and they need money for their future needs. Funds can either get in instalments or as a lump sum amount.
In Indian Perspective
In India, LIC Child Plan is one of the most popular child investment plans among the people. But, it has been suggested by the Lic agent in Delhi NCR to look at various child plans offered by life insurance companies in India and then choose the best hair plan from them.
Types of Child Planning
A Child Plan can be broadly classified into two categories; children provide traditional stable endowment plans with stable endowment plans. The money you invested in a child's plan is further invested to provide a better interest on the loan fund sum amount.
An endowment plan gives a payment at the end of the contract, i.e., in case of maturity or the death of the parent. Also, it is necessary to keep a check on your bonus and interest applicable on your returns from the Lic new child plan, such as simple or compounded interest.
Children's Unit Linked Insurance Plan
These are schemes related to market which provide volatile payments. Under the Linked Insurance plan (ULIP), money is invested. Equity fund therefore depends on the ups and downs of the returns market. The Lic agent in Delhi offers you the best deal there.
To ensure better returns from the Lic new child plan, it has been suggested to invest in Ulips for a longer period. Apart from this, companies offering some life insurance Ulips offer you the option of optimizing various funds to control their investment.
Created on May 15th 2019 07:10. Viewed 260 times.
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