Method for saving money for children plan in india

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Method for Saving Money for Children Plan in India

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About Us
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Introduction
 Our kids are our most noteworthy god’s gift and with regards to them, we never stay
disconnected.
 We always try that our kids are raised with the most extreme care, get the best in nutrition,
get the best of education and have a luxurious life.
 In today's economy where the costs of regular merchandise and ventures are soaring,
having adequate reserve funds is a daunting task.
 This is why it becomes mandatory to plan for your child’s future in a strategic manner to
avoid any troubles in future.

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Why Should You Plan Now?
 Parenting has become tougher than what it used
to be few years ago.
 On the top of that, uncertainties related to
existing career options further make the
parenting a bit challenging task.
 That’s why a proper planning in terms of child’s
future becomes a primary responsibility of a
parent.

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Why Should You Plan Now?
 Taking support of saving plans that reap great
benefits is also essential to ensure that you are
able to handle the expenses related to wedding
and education of your child.
 Choosing the right investment plan related to
children makes sure that there is no negative
impact on child’s future in an event of a death of
a parent.
 All these factors show planning within the first
month of child’s birth is the best thing we can gift
to the next generation.

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Factors to Consider before Choosing the Plan
 Many insurance companies offer investment plans and
distinctive assortments of child care plan that are
accessible in the market today.
 It turns out to be exceptionally troublesome for an
individual to settle on the right purchasing choice.
Here are a couple of pointers which would help you in
contrasting between the accessible plans:

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 Expected Requirements
 This factor helps you identify what goals you are aiming while choosing a plan.
 The major needs include healthcare, education and marriage of your child.
 All these needs will help you predict the time and year during which the funds will be
required.
 Flexibility of the Plan
 If you choose a plan that is rigid in nature, you might face some challenges before the
maturity of the plan.
 It is a wise idea to select a plan that allows partial withdrawals. This way, you will be able
to manage different types of expenses.
 This also lets you attain the advantages of volatile market conditions.

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 Plan Benefits
 Each plan features a unique set of benefits associated with maturity of the plan, death of
the parent or loyalty benefits.
 Several plans also carry tax benefits that can prove beneficial during the course of
investment.
 Premium Rates
 A plan at first glance may sound promising, but its top-notch premium rates might impact
your budget.
 It, therefore, becomes vital to analyze the rates of every plan shortlisted from your end. Y
 You must also check the parameters like premium payment mode, minimum & maximum
annualized premium, along with the sum assured.

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Best Child Investment Plans
 Bajaj Allianz Young Assure:
 Multiple premium payments and policy term options to
ensure that money is available to you during crucial
stages, like child's education, marriage, etc
 Guaranteed Maturity Benefit (GMB), Guaranteed
Additions (GA) and bonuses to ensure a
good return
 3 Cash Instalment Options to choose from to match the
future financial needs

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 Max Life Shiksha Plus Super:
 This plan offers exhaustive Life Insurance scope,
including family income benefit.
 Subsidizing of Future Premiums in an event of Death of
the Life Insured to guarantee that your fantasies for
your kid stay in place.
 You have the alternative to pick Policy Term as per
your need, i.e. 10 years or any term between 15 to 25
years .

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 SBI Life Smart Scholar:
 Secure your child’s future by picking up from the
budgetary markets.
 Double insurance for your family.
 Inbuilt Premium Pay or Waiver advantage to guarantee
duration of your arrangement

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 HDFC Child Plans:
It is further divided into variants.
1. HDFC Child YoungStar Udaan
 Its USP is three maturity benefit options and two death
benefit options
 Individuals can choose the policy term in the range of
15-30 years as per the needs.

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 HDFC Child Plans:
2. HDFC SL Young Star Super Premium
 One of the most flexible plans with funds to choose from:
• Balanced fund
• Blue chip fund
• Income fund
• Opportunities fund
 Flexibility to choose the sum assured and premium
amount

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Features and Benefits
 Some common benefits of these plans:
 Each of these plans comes with guaranteed maturity benefits in an event of the death of
the parent.
 Tax benefit is accessible under 80C when some guaranteed no less than 10 times yearly
premium
 Each of these plans comes with loyalty benefits or bonuses
 The individuals are able to assure a sum without any maximum limit.

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Method for saving money for children plan in india

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