1. What is child life insurance?
A child insurance plan combines the benefits of both investment and life insurance – by financially securing the child’s life in case you were not around. It helps by building a corpus over a period of time to be utilized for funding the crucial milestones in his/her life. Compare various offerings online to find the best child insurance plan that provides adequate cover to your little one.
2. What are the features of a child insurance plan?
Features of a child insurance plan include:
- Child insurance policy benefits continue even when you are not there. Future premiums get waived so child is not burdened to pay the premium
- Some plans also offer market-linked returns
- Flexibility in receiving pay-out of the child insurance plan
3. What are the benefits of a child insurance plan?
It is important that you invest in a child insurance plan that provides sufficient funds for the various academic milestones in your child’s life. The child can reap the benefits of the child insurance policy even in the absence of the policyholder. Some of the more important advantages of a comprehensive child insurance plan include:
- 1. It helps build corpus for meeting child’s education expenses
- 2. Option of partial withdrawals in case of any emergency
- 3. Premium waiver benefit
4. Are there any child plan with just one time investment?
There are many child plans offering one-time investment option in India, where you need to pay only once, and enjoy the benefits for the rest of the policy period. A one-time investment plan for child will ensure financial protection for your child with a single premium payment. You don’t need to worry about premium due dates every year and your policy never lapses.
