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Child Insurance Plans: Are they really useful?

Along with the overwhelming happiness, parenthood also comes with great responsibility.

Towards that end, such dreams need money. Your plan has to meet the increasing educational and other needs of growing children. It requires well-thought-on financial planning to analyze the expenses involved at every step of bringing up a child.


Here are some other points accumulated from around the web about the need of Child Insurance Plans.
  1. The Rising Cost of Education.
  2. Disciplined Savings
  3. Income Protection for Your Child
  4. Collateral for Loans
  5. Untimely Death of a Parent
  6. Customized payouts

Sources:
These site have really explained well about Child Insurance plans.

Before you continue further make sure you have gone through at-least one of the Sources provided above. So that you will have an idea of how to plan your child future.

LIC has launched 2 child plans in recent times. Lets have look into these plans once.

  • Children's Money Back Plan (832)
  • Jeevan Tarun (834)

                    This is a regular plan with profits, where the term of the plan is (25-Age of kid). And you get returns at age 18, 20, 22 and maturity at 25. 

                    In this plan, you have the choice to collect the returns at ages 18/20/22 or to take the amount at a later time, when needed.At the end you receive maturity with bonuses.


                    This is also a regular plan with profits, where the term of the plan is (25-Age of kid) and paying term is policy term - 5, i.e., till child attains age of 20. 

                   In this plan you have an option to choose money back from kids age of 20 till 24. You can choose an option among 5% or 10 % or 15% of sum assured returns from age 20. At the end you receive maturity with bonuses.

Come and Start today, to secure your child's future. We will help you to decide and plan according to your needs. :)

Feel free to contact us for more details.

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