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Secure your childs education with the best child education plan in 2024. Buy top rated child insurance plans online for holistic coverage and benefits.
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Child Insurance Plans The best child planserve as financial instruments aimed at safeguarding a child's future, particularly for their higher education requirements. These plans integrate life insurance with savings, wherein parents contribute premiums that accrue into a maturity benefit intended for the child's educational pursuits. Besides offering life cover, these plans extend additional benefits such as covering outstanding premiums in the event of a parent's demise.
What Are Child Education Plans? A child education plan is a special type of plan which is designed for parents to secure their child's future financially in a structured way. The parents have to pay a certain amount of premium and they will receive a certain maturity benefit for the child's higher education. Moreover, the policy also provides life cover from the insurance element of the policy. The premium can be monthly, semi-annually, annually or a one-time payment. In the unfortunate death of one of the parents, a child plan can offer triple benefits to beneficiaries. This includes a life insurance cover, payout of the maturity benefit and the payment of insurance premiums by the insurer. This payout can be received as a single lump sum upon maturity or periodically at different ages of the child.
Why Invest in Child Policies? Investing in child policies can allow to enjoy triple benefits in case of untimely demise of a policyholder, which are as follows: A life cover is provided to the nominees of the policyholder i.e. the family members. All the remaining premiums are borne by the insurance company. On maturity, the sum assured is paid out to the child. Also, during the present scenario, the child beneficiary gets his or her monthly expense cover. It includes education-related costs such as books, copies, tuition fees, etc.
