As parents, we always dream for the best of our children, including higher education, starting off a business, marriage or that tiny step ahead while holding our hands. But in our busy schedule we hardly get time to plan and save money for that. Sometimes we plan the future for them, but are unable to come out with a concrete decision. So in most cases, children suffer throughout their life. During the primary school days the expenses are under control, but when the child steps into the higher level education, it becomes a matter of concern.
On the other hand, parents have become more dynamic as far as career of their children is concerned. Their planning is no more centralized on the becoming a Doctor or an Engineer, children are being involved in the sports and various other fields too. The opportunity has become broader. We can see children below 10 years competing for becoming professional singers organized by various Television channels.
It's all about money that comes into the factor. So why don't we share the responsibility with the insurance companies? I would like to suggest few plans with insurance policy details for being tension-free regarding their future:
Children plan: If you take an insurance policy for your child you can take advantage of lower premium rates and ensure that your children remain covered throughout adult hood, at a much lower rate. This also instills a saving-habit in your child at a young age developing them as and when the policy vests in them. So funds can be arranged for critical stages in your child's life like Graduation, Post Graduation, Marriage, Start a business etc.
Aviva Little Master is a comprehensive, unit-linked endowment plan which covers the life of the parent as well as the child. It offers you 4 unit linked fund options. Aviva Little Master has several firsts which makes it an extremely competitive product; a waiver of premium in the event of the parent's' death, a comprehensive health benefit (CHB) rider which covers 18 critical illnesses, guaranteed additions of up to 7% of the units at maturity as well as a choice of riders which cover you against accidental death, critical illnesses and pay out an income in case of death.
There are other very good policies like the Komal Jeevan of LIC and the Smart Kid of ICICI.
The bottom line is if your child feels financially secured, they will love their parents more. So help them to be financially secured and be a part of happy family.
Source: http://reachfinance.blogspot.com
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