Do you know what Child Protection Insurance Policy is?
It’s the ultimate purpose of parents to make their children future secure. Secure in terms of education, health and family planning as well. After this covid pandemic, we all know that life is very uncertain and one should have better planning for their children future.
When we listen to word uncertainty, then next term insurance comes to our mind. Various firms offer different types of child insurance policies or child policies. Before we know the feature of child policy, we should understand what child policy is.
Child policy – A financial guarantee for your child’s ambitions & desires
A policy that offers financial safety to your child’s dreams and goals. You may utilize a child policy to invest in your child’s major life objectives, such as school, health, and marriage. And the main intention of a child policy is the financial protection of parents’ untimely death.
In this condition, a child insurance policy becomes helpful for children survival. Moreover, not only parents but grandparents also can purchase policies for children.
Key Features of child insurance policy
Always remember every child insurance policy have different types of features. First, we discuss some common parts of major child policy –
- High rate of returns
Child insurance Plan returns can be as high as fixed deposits and any other insurance, like 12%, higher than the long-term inflation rate.
Child Insurance Plans protect your investment and give you good growth in your funds. And another profit is that it keeps your savings secure.
- Goal protection
A child insurance plan includes the goal of providing your child with higher education and other health facilities, family planning & necessary expenses even if parents are not present. The project will mature on the maturity date, and it will make your child think against all odds.
- Emergency withdrawal facility
No one wants to get stuck in an emergency. A child insurance plan gives you protection in emergency times. One can withdraw a certain amount from child insurance value multiple times during the plan’s tenure using this facility.
- Long term investment
We can say a child policy is insurance cum long time investment. This makes it best. In terms of investment, it gives you better return and period of insurance it provides you facilities as any other insurance provider.
Aspects of a Child Plan
Child Education Plans, in general, include the following features:
- Partial withdrawals
- Tax profits
- Lump-sum profit
- Relinquishment of premium
- Reliability Addition & Wealth Booster
These features make child Education plans different from others and boost your child’s dreams and goals.
Why does your child need a child insurance policy?
It is an insurance policy, which gives opportunities to save money along with making your child’s future golden, providing security and protection.
When an unfortunate incident happens to your child, child policy will make your child’s education continuous and hassle-free. Moreover, in case of a regrettable event, your child gets life insurance, child policy – a safety net that will provide continuous support to your child.