Best Insurance Knowledge

by jajacks62

Protect Your Child From Rain With Child Life Insurance Policy

Parenting is a tough job. In fact, it’s more than a job. To protect your child from the rainy days, you do a number of things like not letting him out in the rain, close the window panes and giving him a raincoat when he goes to school. Likewise in life, you need to protect him from the unwarranted mishappenings so that he can lead his life in as comfy manner as possible. For this you need to buy an insurance cover for your child. A cover which ensure his education, protection of home and marriage, even if you are not there.

With a number of life insurance companies booming in the market, you have the chance and opportunity to buy a child policy which suits your pocket and your child’s future best. Let us have a look at what the major insurance companies are offering.

ICICI Prudential offers child insurance plans under three names – Smart Kid Regular Premium, Smart Kid New Unit Linked Single Premium and Smart Kid New Unit linked Regular Premium. These policies are made with the view that the child gets money at important phases of life – X, XIIth, graduation and post graduation level.

HDFC Insurance offers child plan is designed to give a secured future by giving your child a guaranteed lump sum on maturity or in case of your unfortunate demise, early in the policy term. The premiums paid by you, are, on the other hand, invested for long term benefits. Reversionary bonuses are added, generally on annual basis. An additional terminal bonus may also be given in some cases at the end of the policy.

Aegon Religare protects the future of your child with it’s Star Child Life Insurance. It is a ULIP with Invest Protect option that safeguards your returns as well as your child’s future. In this policy, the premiums paid by you are invested in the market which in the long run bears profits. Sum assured is given on major points of life like board exams and graduation. This policy also sees the expenses of your child marriage if you plan so.

LIC India’s largest Insurance Company offers a wide variety of Child Plans to choose from.

All these insurance companies and others like these which offer Child Insurance Plans work on two major lines, irrespective of the benefits they offer:

The beneficiary is the child; that is only the child can get the benefit of the policy; neither the parents nor the relatives of the child can get the benefit out of child policy.
The policy continues even after the death of the parent which means the Childs education continues unhampered.

The point is that, we all know the importance of insuring our child. With so many insurance companies offering such huge number of options to choose from, one has the option of choosing a child policy within his means. So, one must choose a child policy, to ensure a bright future for his child and buy it as early as possible. One must not let this opportunity go away from his hands…

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