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Why You Must Invest in a Child Plan?

February 17, 2017 1504

Being a parent is the most beautiful emotion in the world. It is something that has to be felt. No matter how hard you try, you can never describe it in words. The bond between a parent and a child is the most beautiful and strongest bond. It makes you the happiest person in the world, but it also comes with its share of responsibilities. Life changes completely when you have a baby. You change as a person and are never sure if everything you are doing is enough or not for your child. Your child is your biggest responsibility and you would never want them to compromise on anything. You as a parent would always want a smooth life for your child; but do you thing raising a child without buying a Child Investment Plans is easy? The cost of education these days have increased so much, that in order to send your child to a good school, you have to pay for different kinds of fees which during your school days, you may have never even heard of.

To give your child the kind of future you desire for, you must take a systematic way of providing them with financial aid. Investing in a child insurance is the best and the most systematic way of saving for their future expenses. Most of the parents are worried about their child's health and education, which can be taken care of by investing in a child care plan. Child insurance plans also provide life insurance cover to the parent's life, so that in an event of sudden demise of the guardian, the child's financial aid is not hampered.

Certain tips you should consider when buying child care plan:

1. Start the investment early

2. Choose a suitable sum assured amount

3. Pay attention to the features of the plan

4. Look out for the provision to partially withdraw at times of dire need

5. Choose for a premium waiver plan so that the child's future is not compromised in case the insurer dies

6. Choose the funds as per your risk appetite

HDFC Life offers two kinds of child care plans which parents can invest in depending on the criteria. HDFC Life child care plans have low premiums with high policy coverage and the claims too are easily sanctioned.

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