The Best Child Insurance Plan for Education and Marriage

Investing in child insurance plans can help you save money for the future of your child. This is a safe and assuring way to save the amount of money you want to save for the expenses you may come across in the future while providing them a financially stable future. 

Investing and saving for future expenses is smart but investing in the right plan or policy that suits your lifestyle and helps you get the best of returns is an important task. Before you start to invest in any plan to save and grow money for your child, you must know how much amount you want to save for their expenses in the future. You must consider the payment methods, your current financial position, your financial window and make sure that you do not stretch beyond what you can comfortably pay or invest. Then you must compare different child insurance plans and pick a plan that can comfortably lay along with your lifestyle. The former aspect has to be done physically by you since not everybody’s financial status is the same. The latter one however is easier because in this article are listed 4 best child plans you can invest in to save and grow money for your child’s future.

Best Child Insurance Plans For Education and Marriage

To help you pick more efficiently, the best child insurance plans of 2021 are listed with their features below -

1. LIC New Children’s Money-Back Plan

LIC New Children’s Money-Back Plan is a non-linked plan that requires participation. It is an individual, life assurance money-back plan. It has been specifically built to meet the financial needs of the life assured to help their child get the best education and help them save money for their marriage in the future. The maturity age of this plan is 25 years while the minimum and maximum ages are o and 12 respectively.

2. HDFC Life YoungStar Udaan

The HDFC Life YoungStar Udaan plan is an ideal choice among parents who wish to provide their child a financially secure future. This plan helps them save and grow for their child’s financial future. This plan has 3 maturity benefit options and a classic waiver to help the child reach their goals without any hassle.

3. SBI Life - Smart Champ Insurance

It is an individual plan. It is a non-linked plan that involves participation. It provides the services of life insurance and savings option. This plan helps the parents of a child to save and grow for their future financial needs like education expenses and marriage expenditure. It covers the life and offers benefits against accidental permanent disability.

4. ICICI Pru Smart Kid Solution

ICICI Pru Smart Kid Solution is a unit-linked insurance plan that provides just the benefits that help the parents of a child save and grow for the future of the child. It helps them secure the educational expenses of the child.

Conclusion

In conclusion, there are many plans that provide safe ways to help you secure the future of your child financially. You must carefully pick a plan to invest in by considering all the variables in life.

Also read - Advantages Of Purchasing A Child Life Insurance Plan

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.