Children always hold a special place in your hearts. They are your bundle of joy and you try to bring your child up in the best possible way. That is why you choose the best education, the best clothes, the best food and also the best future for your child. Whatever you do for your child, it involves money. Whether you want your child to go to the best schools or have the best toys, you need money to fund your child’s dreams. Especially when your child wants to build a career for himself/herself you need sufficient funds for higher education. Given the rising cost of education, affording quality education for your child is tough. When it comes to higher education, the challenge becomes more difficult as higher studies are expensive.
When you are earning, you set aside funds for your child’s future expenses and higher studies. But what would happen in case of an unforeseen emergency? In case of your premature death, can you ensure a secure financial future for your child? Child plans create an earmarked fund for your child’s future. This fund is protected and grows even when you are not around to contribute towards its growth.
When buying a plan, you should keep the following points in mind –