Everything To Know About The Max Life Future Genius Education
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When it comes to investing your hard-earned money, it is never an easy decision to make. Many variables would be needed to be taken into account to ensure a good yield on your investment. However, it becomes even more challenging when it comes to investing in order to secure the future of your children.
Given the nature of your child’s education, there are bound to be expenses. The burden of these expenses, however, can be mitigated through smart financial planning and foresight. This holds true regardless of whether your child’s education is being pursued within the country or abroad. One such tool to help leverage your income to better secure your child’s future is the Max Life Future Genius Education Plan.
Although there are various child insurance plans available in the market, we hope to uncover various benefits of investing in the Max Life Future Genius Education Plan, in addition to features offered to better aid your decision-making.
What is the Max Life Future Genius Education Plan?
As Indians, we aspire to see our children achieve their full potential through quality education. Wanting the best for our kids, however, comes at a cost. That is, financing education does become an important consideration for many. But as parents, it falls on us to appropriately plan out finances and expenses so that our kids may receive the best tools available.
One such tool to help parents looking to provide the best to their child is the Max Life Future Genius Education Plan. As the name suggests, it is an insurance plan that aids parents in carefully planning out various aspects associated with their child's education. Driven by disciplined savings, under this plan, parents get to decide on specifics such as the yearly premiums to be paid, the timing of the payouts as well as the duration of the plan, all based on factors like your child’s current age and future aspirations.
Although, it is important to keep aside money for your child’s future, having a set plan in place handled by professionals is certainly a plus.
Okay, but What Are the Benefits of Opting for This Plan?
There are several benefits of opting for this plan. The major ones are as outlined below-
1. Death Benefits
Death is an unpredictable event, but certainly an event that can have long-lasting implications. Hence, for investors that have chosen the Max Life Future Genius Education Plan, in the circumstance of death, they receive a death benefit. The calculation of which is based on factors like the premiums paid and net premiums paid till the time of death.
2. Benefit on Maturity
Based on the duration chosen, investors get a benefit at the time of maturity after the payment of all premiums. However, in the event of death, a termination amount is paid up to the beneficiaries after the date of maturity.
3. Money-back Benefits
Money-back plans help ensure additional liquidity that may be used for unexpected expenses or even other investments. That said, in the case of this plan, money-back options are made available to the policyholder during the last 4 years. Each of the four money-back plans equals a quarter of the sum assured.
What about the Key Features of this Plan?
1. Life Insurance
This plan ensures financial protection for your loved ones even in the time of death. That is, insurance payouts are provided in case of untimely death. Additionally, the policy remains valid with no future premiums to ensure that your child’s future is not compromised.
2. Bonus Options
There are a few options made available to the policyholder when it comes to bonus options. That is, the option of cash, offsetting the payment of premiums and paid-up add-ons. This allows investors to choose an option that best suits them.
3. Ability to Choose the Duration
When it comes to the tenure of the policy, one may choose a policy of duration between 13-21 years. This provides investors with the flexibility to go for a plan based on the child’s age and their need to pursue higher education.
Key Takeaways
With education being an unavoidable expense, we should never limit our child’s potential with financial constraints. With many child insurance plans, it becomes increasingly aware of all the plans out there. Hence exercising responsible financial decisions comes into the picture. In addition to saving, it becomes important to invest.
the Max Life Future Genius Education Plan helps ensure that your child gets the best of education by helping cover aspects like the untimely death of the policyholder, money-backs, and much more. All this is to ensure that your kid never has to look back when it comes to pursuing the best education out there.
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