Insurance plans for your child
For every parent planning for his child’s future is a topmost priority and with so many schemes and plans in the market, one has to be sure that you are investing in the right plan. Insurance companies have now come up with various children products especially keeping their education needs in mind. There are traditional plans like term plans and endowment plans as well as ULIP schemes are available.
All you would want is to invest in schemes which would give you better returns and for a longer term.With the regular traditional insurance plans like endowment plan one would get a fairly good return on your investment. In ULIP schemes you get a choice to invest in the market directly where your funds are invested in either equity or debt instruments which give you higher returns. So you have a good amount at the end of the policy term.
Besides the investment part a ULIP scheme also offers an insurance cover. One should start investing for their children as early as possible. Then you can invest in the equity funds and make higher profits rather than in the debt funds. Equity funds invest mainly in market stocks which could be risky. But higher the risk, higher is the profit. Hence if you start early your risk appetite increases. Once you have made a good amount of savings from the equity funds you then have a choice to switch over your portfolio to debt market to safe guard your investments.
While investing in insurance schemes you protect your family in case of an event of death occurs. So it is advisable always to make sure as a parent you have a life insurance cover so in any unforeseen situation your family is protected financially. This amount can go towards your child’s education or marriage needs. You can also invest in Child plans where your child is also covered.So, while saving for child’s future needs make sure you take the right plan for the right reason. With so many insurance companies rapidly increasing you have a vast choice of products to invest in. Make sure you have invested in a good policy, so that your child’s future requirements are met.
All you would want is to invest in schemes which would give you better returns and for a longer term.With the regular traditional insurance plans like endowment plan one would get a fairly good return on your investment. In ULIP schemes you get a choice to invest in the market directly where your funds are invested in either equity or debt instruments which give you higher returns. So you have a good amount at the end of the policy term.
Besides the investment part a ULIP scheme also offers an insurance cover. One should start investing for their children as early as possible. Then you can invest in the equity funds and make higher profits rather than in the debt funds. Equity funds invest mainly in market stocks which could be risky. But higher the risk, higher is the profit. Hence if you start early your risk appetite increases. Once you have made a good amount of savings from the equity funds you then have a choice to switch over your portfolio to debt market to safe guard your investments.
While investing in insurance schemes you protect your family in case of an event of death occurs. So it is advisable always to make sure as a parent you have a life insurance cover so in any unforeseen situation your family is protected financially. This amount can go towards your child’s education or marriage needs. You can also invest in Child plans where your child is also covered.So, while saving for child’s future needs make sure you take the right plan for the right reason. With so many insurance companies rapidly increasing you have a vast choice of products to invest in. Make sure you have invested in a good policy, so that your child’s future requirements are met.
For More Information,
Pleasevisit:www.bimadeals.com
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