header-search-icon
Become an Advisor

Contact Us right-arrow-white

Login right-arrow-white

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)
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

Child's Education - Tips to Choose the Right Child Plan

down-arrow
December 12, 2018
As parents, you want your child to have all the avenues for creating a life that she/he deserves to have. One of the most important avenues that ensure the quality of life is giving your child the best education and a resultant successful career. All parents want that the best educational facilities must be available for their kids and hence, they plan accordingly. These days, the costs of education have skyrocketed and this trend is expected to continue over the coming years. Higher education in India is becoming a costly affair with each passing year and parents are feeling the financial pinch. This holds even true for education from a foreign university. No parent wants their child to lag behind others in the competitive world of today. The result is financial stress of trying to balance the best option with the economical factors involved.

The rate of inflation plays a major role when you are planning the financial back up for the future and more so while planning the ideal educational platform for your child. After all, the costs of higher education after a few years are set to be humungous. Therefore, for a careful financial planning, taking an informed and timely decision today is what matters the most. This highlights the importance of having the best available child plan for your kid's educational expenses in future. A child plan serves as a vehicle, not just for assuring the monetary coverage (like a life insurance plan) but also for allowing you to build up the corpus for your child's requirements, by acting as an investment.

The best child education plan denotes security of finances for your child's education today and in the future. Besides, it takes into account the futuristic projections of costing and inflation, thereby giving you the opportunity of strengthening your finances over time so that you can spend freely whenever the need arises. Thus it acts as a guarantee not only for today but for future as well. Moreover, it serves as a cushion against financial woes even in your absence so that your child's future is secured, even when you are not around. Taking out a child plan is very essential and must be done after weighing the different available options.

The options given by insurers are varied and generally can be purchased by subscribers online, after expert consultation. As mentioned, a child plan ideally serves as a joint endeavor between investment options and insurance coverage and the benefits an extensive. Unlike a standard term insurance plan, where no maturity benefits are offered, a child plan offers maturity benefits if the policyholder survives the policy term. In case of unfortunate demise of the subscriber, the main corpus (sum assured) and the pending premium amount is paid by the insurer. Moreover, tax exemption for the payable premiums under the relevant sections is in place, thus giving you comprehensive benefits.

HDFC Life offers HDFC Life YoungStar Udaan a unique child plan that assures a safe and secured future for your child and offers the provisions of financial coverage for your child's educational requirements.

Related Articles

Buy Child Insurance Plans

Show Full Article
Hide Full Article

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

Insurance Advisor Articles Insurance Advisor Articles

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:

Here's all you should know about life insurance.

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

Promise for a Lifetime: Choosing the Right Child Savings Plan

Promise for a Lifetime: Choosing the Right Child Savings Plan

Get expert advice on choosing the right child savings plan as a parent to secure your childs financial future, provide better opportunities, and ensure long-term stability.

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

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

5 Tips for Building Your Childs Overseas Education Corpus

Empower your child's dreams of studying abroad. Discover expert tour top 5 tips for building a solid overseas education corpus. Secure their future now!

5 Tips for Building Your Childs Overseas Education Corpus
The Rising Cost of Education In India – HDFC Life Previous
Secure Your Child's Future With Child Insurance 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