The Ideal Child Education Plan and Insurance
In the highly competitive and fast paced world of today, you obviously want your child to receive the best of careers, for which, the child has to be educated in the best manner possible. Today, the definition of education is no longer limited to bookish knowledge and getting a degree. Education has become skill oriented and therefore, along with the main schooling, college and university courses, additional trainings and curricula have become mandatory. This has further increased the financial burden on the parents and has made it essential to have an extensively beneficial education plan for the child in place. Different insurers today offer child education plans with varied and diverse benefits and incorporated features. Therefore, a comprehensive comparison of the different plans on offer is very important for you to choose the best option. An ideal child education plan is the one that suits your specific needs and comes with features that provide the best deal for you.
An ideal child education plan comes with various features which must be taken into account before opting for it. These features include the coverage benefits, the amount of payable premiums, any additional benefits, and the option where the premiums can be waived off (in the event of the policy subscriber's demise) etc. Generally speaking, different insurers incorporate these features into the child education plans and therefore, conducting an online survey and matching of these features with your projected plans is very essential. A child education plan can be either endowment-linked or unit linked. Both these types of insurance plans have their individual benefits and features.
A unit linked child plan must be chosen carefully, as the returns are market linked and the investment instruments are subject to the fund's performance. Although as policy holder, you can switch between various fund options, yet the level of market risk involved is higher than that in endowment linked child plans and the benefits vary accordingly. While choosing a child education plan, it is important for you to understand the importance of taking a timely decision as this directly impacts the coverage benefits, payable premiums etc. Taking a timely decision for your child's future allows you to have a sufficient corpus in place by the time your child is ready for college or university.
HDFC Life offers HDFC Life YoungStar Udaan a plan designed to help your child fulfill her/his dreams and meant to act as a catalyst in your child's future growth. For details, click on the mentioned link: https://www.hdfclife.com/children-insurance-plans/youngstar-udaan.
Related Article:
3 Tips to Boost Your Child's Personality Development
Checklist to Fully Insure Your Child with Child Insurance
When to Start Investing in Child Investment Plans
Why You Must Invest in a Child Plan- HDFC Life
The ideal child education plan and insurance
Term Plan Articles
Investment Articles
Savings Articles
Life Insurance Articles
Tax Articles
Retirement Articles
ULIP Articles
Subscribe to get the latest articles directly in your inbox
Health Plans Articles
Child Plans Articles
Popular Calculators
Here's all you should know about life insurance.
We help you to make informed insurance decisions for a lifetime.
HDFC Life
Reviewed by Life Insurance Experts
HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER
We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.
Popular Searches
- Term Insurance Calculator
- Investment Plans
- Investment Calculator
- Investment for Beginners
- Best Short Term Investments
- Best Long Term Investments
- 5 year Investment Plan
- savings plan
- ulip plan
- retirement plans
- health plans
- child insurance plans
- group insurance plans
- income tax calculator
- bmi calculator
- compound interest calculator
- income tax slab
- Income Tax Return
- what is term insurance
- Ulip vs SIP
- tax planning for salaried employees
- HRA Calculator
- Annuity From NPS
- Retirement Calculator
- Pension Calculator
- nps vs ppf
- short term investment plans
- safest investment options
- one time investment plans
- types of investments
- best investment options
- best investment options in India
- Term Insurance for Housewife
- Money Back Policy
- 1 Crore Term Insurance
- life Insurance policy
- NPS Calculator
- Savings Calculator
- life Insurance
- Gratuity Calculator
- Zero Cost Term Insurance
- critical illness insurance
- itc claim
- deductions under 80C
- section 80d
- Whole Life Insurance
- benefits of term insurance
- types of life insurance
- types of term insurance
- Benefits of Life Insurance
- Endowment Policy
- Term Insurance for NRI
- Term Insurance for Women
- Term Insurance for Self Employed
- Benefits of Health Insurance
- Health Insurance for Senior Citizens
- Health Insurance for NRI
- Best Term Insurance Plan for 1 Crore
- personal accident insurance
- Annuity Calculator
- child investment plan