Steps to Buy Child Insurance Plan Online

As a parent it becomes important for you to take care of your child's needs and prepare for any uncertainty that may affect the child's dreams and goals. Child Insurance is the method to save for any expenses related to marriage or education. The Premiums paid during the Policy term not only provides a cover as well as works as an Investment Plan. In your presence you can witness your child walking towards his dreams and achieving every possible milestone and even in your absence your child will not face any roadblock on his or her journey. 

Key Features of Child Insurance Plans

Below mentioned are some of the key features of Child Insurance Plans: 

• Waiver of Premium

This is a great feature that is available in Child Insurance Plans. Under this benefit if the parent dies before the completion of the Policy Term then in that case the insurer takes the responsibility and pays the premium on behalf of the Policyholder. This ensures that the family and the child won't face any financial stress on top of the emotional stress the child and the family is going through. 

• Partial Withdrawals

In terms of Liquidity, these plans offer Partial Withdrawals in case of emergencies. This means that after a completion of certain years the policyholder can withdraw the funds from the policy to utilize it to meet the urgent need of funds. 

• Sum Assured

Child Plans are a combination of investment and insurance plans. These Plans build up a lump sum amount over some time. The lump sum is paid out at the time of the Maturity of the Policy and can be utilized for the education and marriage of the child.

• Additional Riders

The availability of Additional Riders helps you to convert the Child Insurance Plans into a comprehensive cover. These Riders protect your child from other unforeseen circumstances. Examples of Riders- Accidental Death and Disability Rider, Premium Waiver Benefit, Critical Benefit, etc. 

Why Should You Purchase A Child Insurance Plan Online? 

In this digital world it is becoming easier to get the details of any product that we want to purchase. In the case of the Child Insurance Plans, when you purchase it online you can easily compare between all the plans which are available and then choose the one that suits you the best. It also costs less when you purchase these plans via online mode because there is no involvement of any intermediary. 

Steps to Buy Child Insurance Online

There are certain easy steps as mentioned below which you need to follow for purchasing the plan online. 

Step 1- Go to the  website of the Insurance Company and fill up the details which are required under the 'Sign In' column. 

Step 2- The Registration Page will ask for details such as complete name, date of birth, email address. 

Step 3- You will receive a confirmation link  and you just need to click on the link and your email address will be verified. 

Step 4- Now you can go back to the website and choose the Child Insurance Plan. You can go through the details which are available on the website before you proceed further. 

Step 5- After selecting the child policy of your choice you have to fill up the basic details and upload the required documents such as identity proof, age proof etc. 

Step 6- After this you can select the Premium Payment schedule and the system will show you the amount accordingly. 

Step 7- Then you will proceed to the payment page. Here you need to enter the payment details and confirm the payment of either the single premium amount or the first installment of the premium. 

Step 8- Once the purchase is complete then the system will send you the policy documents on your registered email address. 

Conclusion

You can see that as beneficial the Child Insurance Plans are, one the same way the online method of purchasing these policies is easier as well. You can compare, analyze and purchase these plans by following very simple steps and with a few clicks. 

Also read 

Should I Buy Child Insurance Online or Offline?

Top Companies Offering Child Insurance Plans

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.