Documents Required While Child Plans In India
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As a parent, it is important to have proper financial planning in place in order to provide a safe future to your children. These arrangements help children to get financial support during the journey of attaining important milestones in life. Child plans, a type of life insurance, play a significant role in helping parents fulfil this responsibility.
List Of Documents Required To Buy A Child Plan
Here is a list of important documents for you to refer to:
Birth certificate
A birth certificate records the name, gender, date of birth, place of birth, parents’ name, and address. It is a mandatory document and should be obtained within 21 days of your child’s birth. It is required for various applications like school admissions, passport applications, Aadhaar card applications, opening of a minor bank account, etc. Certificates can also be issued under special provision to adopted children and undocumented orphans.
Aadhaar card
Aadhaar is an essential document for every application today. There is a simplified procedure without biometrics for children below five years. If your child is below five years, your child’s Aadhaar card will be linked to yours. A photograph of your child is captured along with your biometric verification. The original birth certificate of your child will have to be carried at the time of registration.
Passport
A passport is a very important document acting as a proof of citizenship, identity and address. To apply for your child’s passport, you can visit the official Passport Seva website. You will be given an appointment once you complete your application. There will be a list of documents you will need to carry. A minor’s passport is valid for five years or till he attains 18 years, whichever is earlier. However, minors aged between 15 and 18 years may apply for a 10-year passport instead of a passport, which is valid till they turn 18.
Vaccination records
Every child is mandated to receive a set of vaccinations from their birth till a certain age. Maintain a file of all the recorded vaccinations your child receives over the years. A pediatrician or the children’s hospital will give you a card that holds all information regarding your child’s immunization, including dates and types of vaccines given.
Insurance
If you are currently insured, in the same first 30 days, you must add your child to your policy to continue coverage. Or you can purchase a new policy for your child. You can go for either term or life insurance coverage. Be sure to shop around and find a policy that best suits you and your child’s interests. Once your child is old enough, instruct him/her on the records of the documentation and where it’s stored.
Savings Details
Once your child is old enough, you need to let them know about their bank account details. You must explain to them how savings should be done and how they can add to their existing savings.
Medical Certificates
If your child has gone through any medical procedures, you need to document its records. They may be required for future health check-ups or may also be essential in certain job applications.
Guardianship Nomination
A permanent guardianship form is a document in which you choose who will take care of your children in the event of your incapacity or death. It is important to name a short-term guardian for your child but what is more important is to think about who would raise your child if you are unable to do so.
Conclusion
Every parent must ensure their baby’s identity documents are in place. These are some basic documents that you should obtain during your kid’s childhood. Some of these are mandatory documents required at the time of school admission, opening of a bank account, investments in the name of the child or taking the child overseas on a holiday. Secure your child’s future by purchasing life insurance plans such as a child plan or a savings plan.
