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Plan Your Child's Dream Wedding with the Marriage Expense Calculator

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Plan Your Child's Dream Wedding with the Marriage Expense Calculator
January 25, 2023

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In this policy, the investment risk in the investment portfolio is borne by the policyholder.

Parents always do their best to provide for their little ones. From securing the best opportunities and ensuring quality education, there’s nothing you won’t do for your child. That’s why it’s crucial to have a well-thought-out child plan to manage your finances, ensuring you can give your child the wedding of their dreams. In India, weddings are lavish affairs that celebrate two families coming together. Let’s explore how a solid child plan can help you organize your finances and ensure your child starts their married life on the right note.

How Much Will I Need for My Child’s Marriage?

Many parents struggle to answer this question. How much is enough? How much will you need in 15 or 20 years? Coming to grips with inflation and how much a marriage will cost in the future is difficult. That’s where a marriage expense calculator comes in handy. You can input your child’s current age and estimated marriage age. Then, provide details on how much you would spend today, the approximate inflation rate and the amount already saved and invested. The calculator uses this information to let you know how much you need to save each month for your goal.

Why Should I Use a Marriage Expense Calculator?

A marriage expense calculator accounts for inflation and projects the value of current investments in the future. These factors make it incredibly easy to understand how much you still need to save and invest for your child’s dream wedding. The calculator provides the following benefits:

  • Quick Calculations

    The calculator provides an immediate answer to your query – how much do I need for my child’s marriage?

  • Provides a Way Forward

    The calculator lets you know how much you still need to invest monthly for your goal.

  • Accounts for Inflation

    The calculator lets you pick the inflation rate and calculates the required amount accordingly. You can use a higher rate to create a buffer.

Will Only Savings Work?

Savings can help save up a corpus, but it might not be enough. When planning for long-term financial goals like your child’s marriage, a Unit-Linked Insurance Plan (ULIP) offers better growth. HDFC Life Sampoorn Nivesh offers ten fund options, allowing you to enhance your returns. You can choose premium payment options that suit your financial situation and use fund switches to make the most of market ups and downs. You can safeguard your little one’s marriage expenses by choosing the premium waiver benefit. It provides your loved ones with a lump sum payout as the death benefit and keeps your plan active until maturity.

Parents always go above and beyond to make their children’s dreams come true. The marriage expense calculator helps you make prudent decisions to turn your child’s dream wedding into reality.

DISCLAIMER

HDFC Life Sampoorn Nivesh (UIN No: 101L103V03) is a Unit Linked Non-Participating Life Insurance Plan. Life insurance coverage is available in this product.

ARN: ED/12/22/31016

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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