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Investing for the future of your children !



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child education plan

Unlike earlier days parents today are so much worried about the future of their children, they often keep pondering what should be done to reduce tension. Today investing in child investment plan is one of the best ways to build a protected future for the little one but confusion arises when it's about buying the policy, as there are number of policies equipped with number of lucrative features, so it is likely to be confused which policy one should be choosing. Parents, who are having one year old child or even six months old, think hard about how to create a comprehensive child plan for higher education. Nearly every parent think about two prime things education and marriage of their children and today this consideration is totally immaterial whether you are having a girl child or a boy, the cost of education and marriage is nearly same for both.

What is child investment planning for parents and how to plan something foolproof that one should know in the first place?

How important child investment plans are

Honestly, in today's world child savings plan are really imperative. Most of parents are busy in doing their regular home and office chores. Parents today either send their children at school or keep them in the custody of nanny or their grandparents and they move for achieving their career goals. They try hard to meet deadlines as set by their employers, most of the time they involve in cutthroat competition with their colleagues. Even on Sundays and holidays neither the father nor the mother is left with minimum energy to think anything productive about their little one's career. So in such situation it is fruitful to have a child's plan, in that way you can secure your child's dreams. All you need to determine how much you would need for your child's education and marriage and depending upon the existing cost and considering inflation roughly 6 to 7 % you have to choose the plan.

What maximum parents tend to do?

Parents mostly are seen to be investing in life insurance and ULIPs where for an assured sum premiums are paid yearly or on half yearly basis. But often insurance agents are seen to be cheating investors by charging high, as busy parents are relatively unaware of lucrative 'child plans' so they find these investments satisfactory. Although there are number of child investment plans accessible around and knowing about these plans will help one determine which way one should be moving.

Child education plan

While opting for child education plan, parents will be ensuring both protection and benefit. Even there are some ULIPs which help in gathering wealth. This plan is meant to offer security and safety to a child so that in future his or her education never stops due to any reason or based on any ground. There are number of insurance companies which take wide interest in providing child education plans. If you are still wondering whether you need education plan or not, well the answer is surely YES. Based upon inflation, in few years the cost of engineering, medical and even other vocational courses will be so much that you will be requiring minimum 20 lakh to start with. If you find the course to be 10 lakh is rest assured that within 10 years or 15 it will be roughly about 30 lakh? So to meet the end you may have to borrow money, to avoid such situation it is better to invest now so that emergencies and urgencies can be avoided and your child's dream may remain secured. Such plan performs as a savior and helps one stay relaxed. Among the plans there are Bajaj Allianz Young Assure, Max Life Siksha Life Super, Metlife Smart Child Plan, SBI Life Smart Champ Insurance Plan, Birla Sun Life Insurance Vision Star Plus, HDFC SL YoungStar Super Premium.

This article was written by Archana Singh for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit

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