Children have tendency to build castles in the air, so parents start purchasing bricks for their castles as early as possible. Loving your child is not enough; you also have to act as a responsible parent because you also have certain duties towards your child.
Buying online child insurance plan is one such responsibility which parents need to fulfill if you really want to make future of your child safe. In fact, insurance experts consider this policy best suitable to protect your child’s future.
First, parents should understand the importance of child plans and the need to go for the best one. These plans are also known as investment plans because it serves two different purposes. This product not only secures child’s future but also finance the milestones in child’s life such as education and marriage.
The best child insurance plan online is designed to secure a child’s future in case of parent’s unexpected death and also develops a huge financial corpus over a period to be used to fund the milestones in child’s life like higher education and marriage.
It gives a wide range of benefits like life coverage and takes care of child’s future needs by offering him or her financial support. Don’t think too much, just involve in a child education plan. Under this policy, death benefit paid policy continues and rest of the child insurance premiums paid by the insurance company in India if the insured person dies.
If policyholder survives, then he is eligible to get maturity benefit. Focus on the detailed specifications of the requirements you are looking to meet through a policy. Below are some key factors customers should search for:
Premium Payment Mode
If insured opt for a single premium, then he or she pays a single payment. On the other hand, the premium is paid on a regular basis such as yearly, half-yearly or quarterly under regular premium.
Insurance coverage depends on the maturity amount and sum assured policyholder selects.
The policy term of child insurance plan is the period when parents think their children require getting on their feet.