RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

Why Do I Need a Child Plan? - HDFC Life

down-arrow
March 23, 2017

Table of Content

 

Parenting these days is much more challenging than what it was a few decades ago. There is immense pressure on parents to perfect the art of parenting to bring out the best in their child. The good news is that both mom and dad are equally involved, which makes sure that every little detail is taken care of. One such critical detail, where both parents have to step-up their game is financial planning for the child. The biggest challenge for parents today is to muster the finances to match the mounting costs of education and marriage. With children taking to hobbies like music and art as alternate careers, parents have to shell out a lot more on their children than the previous generation.

Not just education, everything comes at a steep price tag, be it the wedding that you dreamed of for your child or a new house or a car for him or her. While your child is doing his or her best, it may not guarantee a successful future unless you have planned to meet these needs. 

The saving grace is that you can now count on a child education plan  from HDFC Life to build a decent corpus over a period of time to provide your child a secured financial future. You can now choose from both Unit Linked and Traditional Insurance Plans according to your needs.

It is always a great idea to celebrate happy moments with important decisions - such as investing in jewellery or property around festivals. Similarly, wouldn't it be great if you celebrated your little one's Birthday this year with a life insurance plan which will ensure that the smile you put on her face stays like that forever! Moreover, it will act as a reminder every year and ensure you invest in a disciplined manner for your child's financial future.

What Are Child Plans?

A child insurance plan provides life cover to the parent while also allowing them to invest and grow their wealth for their child’s future. These plans provide flexible payout schemes and often provide small sums whenever your child reaches a significant milestone in their life. A children’s plan allows you to save up for your child’s future and make regular investments as well.

Why Is Investing in Children’s Plans Important?

It is heartbreaking to think about a time when you cannot physically be there for your child. None of us know what life has in store for us, so it’s crucial that you plan for every circumstance. By investing in a child investment plan, you can safeguard your child’s financial future. You can start investing today to build a corpus that they can use to fulfil their dreams.

Tips to Choose the Best Child Insurance Plan

We’re sure you want nothing but the best for your child. You can find the best plan for them by following these tips:

  • Prepare Early

    Plan your finances and investments for your child right from the time they are born. Ideally, find plans that provide payouts when they are 18 or 21, so that they can use the funds to finance their dreams.

  • Look for Premium Waivers

    When you buy a child insurance plan, you need to consider policies that offer a waiver of premiums. If you opt for this, your policy will continue even if something happens to you.

  • Consider Inflation

    When you’re planning for the future, you must safeguard your finances against the adverse effects of inflation. Find a policy that offers higher returns that the expected rate of inflation.

How Does the HDFC Life Child Plan Work?

At HDFC Life, we offer three plan options that you can choose from to meet your child’s financial goals. Based on the plan you opt for you can receive payoutsat the end of each year that will help you meet your child’s financial requirements. If anything were to happen to you, your child will still be taken care of, so you can rest easy knowing that nothing will come between your child and their aspirations.

Conclusion

Every parent does their best to safeguard their child’s financial future. With HDFC Life Child Plans, you can build up a corpus for your little one to rely on when they’re older. You can plan for several contingencies and ensure that your child always has the money they require to achieve their dreams.

ARN – ED/01/22/27014

Related article:

 
Show Full Article
Hide Full Article

View Child Plans

Term Plan Articles Term Plan Articles

Investment Articles Investment Articles

Savings Articles Savings Articles

Life Insurance Articles Life Insurance Articles

Tax Articles Tax Articles

Retirement Articles Retirement Articles

ULIP Articles ULIP Articles

Health Plans Articles Health Plans Articles

Child Plans Articles Child Plans Articles

Popular Calculators Popular Calculators

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.

LinkedIn profile
Author Profile Written By:
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.

LinkedIn profile
Reviewed By Reviewed By:

Here's all you should know about life insurance.

We help you to make informed insurance decisions for a lifetime.

Building a Financial Safety Net for Your Child, this Children’s Day.

Building a Financial Safety Net for Your Child, this Children’s Day.

Discover essential financial strategies for building a financial safety net for your child this Children’s Day. Secure their future with smart investments planning.

How to use an online savings plan to secure your child's education fund?

5 Tips for Building Your Childs Overseas Education Corpus

How to use glide path investing in planning for your child’s education

Plan smartly for your child's education with glide path investing. Navigate financial growth with precision and secure their academic future.

How to use glide path investing in planning for your child’s education
Secure your Child's Future Through Insurance Previous
Planned Parenthood for Millennials - what makes the difference? Next
HDFC life
HDFC life

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 Search

Popular Searches