One of the Most Important Gifts to Give Your Newborn Child: Financial Security

Creating financial security for the future of your newborn child should be the primary goal of new parents. If not the most important thing, this is one aspect of a child’s future that parents must view as one of the vital steps to take. Most often, however, several parents do not know how and where to start. For example, when a baby reaches 90 days of age, she or he achieves eligibility for attaining health insurance. Nonetheless, most parents don’t know about this. When a child is born, there are new financial implications for the family as a whole. The family has grown, and may grow more in the future, and parents must think of how to budget and invest for the same. 

One of the foremost things to do is to create a budget. If there is a single breadwinner in the family, this is even more essential. Typically, in an Indian patriarchal setup, the primary earner of the household income is the husband. Although times are changing, and women work too, the main bread earner remains the husband. Therefore, it is imperative that there is some protection for dependents should an unforeseen event such as the death of the main income earner occur. Among the many ways to allocate funds in order to grow your wealth is to invest them in schemes and plans that offer you risk-averse ways to gain a corpus. While your child is a baby, you may not think of the future as life gets very busy with sleepless nights and tiresome routines. However, you will have far more sleepless nights if you don’t invest while your child is a baby, and wait till much later. 

A way to secure the finances of your family against any unfortunate circumstances is to buy a life insurance plan. There are many milestones to reach in life and bridges to cross. Most of these are linked to finances and having them ready. Therefore, planning for the future, especially once you have children, is vital. This is important for your well-being and that of your family the HDFC Life Sanchay Fixed Maturity Plan is a life insurance plan that gives you and your child the gift of financial protection. In case of your accidental demise, there is a payout for your dependents, a death benefit that is given to your family as a lump sum. In case you survive the tenure of your particular plan, you get a maturity benefit that helps you to gain a corpus for any future expense, like for your child’s marriage, education, etc. Other relevant benefits include the option to have individual or joint coverage, guaranteed savings, options from a range of policy terms until 40 years, the flexibility of premium payments, no medical tests* and more maturity benefits in case you choose to pay higher premiums

Either way you view it, the HDFC Life Sanchay Fixed Maturity Plan gives you and your family a world of financial benefits. In times of need, you are stress-free, as you can even get survival benefits from the very first year of the plan’s inception. Moreover, the earlier you begin, the better, as you can grow and gain more wealth. Additionally, you save on premium values if you buy plans early. Your value as a parent counts when you leave a legacy behind for your children, one that speaks volumes of a secure financial future. Hence, without further ado, #SkipNahiInsureKaro

ARN: ED/06/22/29810