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The Best Time to Secure your Children’s Future is Now

Updated on March 15, 2016

Secure Your Child's Future Now

Today, children face several competitive challenges right from a very young age. Apart from their regular studies, they attend a multitude of academic and hobby classes, participate in a host of extracurricular activities and have several demands on their time. All of these activities combine to give them unparalleled exposure. In time, they develop specific likes and dislikes and realise what they wish to study in the future.

At this juncture, supportive parents must create the right atmosphere conducive to higher learning. Whether their child wishes to become an astronaut, a college professor, an archaeologist or an engineer, parents must help them reach their full potential. This is done by giving access to the best educational opportunities.

Therein lies the catch – higher education in India is quite expensive today. Parents must set aside funds from time to time so that they can pay for college tuition fees. The expenses shoot up manifold if the child wishes to pursue higher education in a foreign university. In this scenario, the most traumatic event for the child is to lose his parent – the loss of income and guidance can spell the death knell for his dreams.

But if you are one of those parents that foresee the possibility of being absent from your child’s life, you will take steps to ensure that your precious child is not left out in the cold. The best way to ensure the fruition of your child’s dreams is to take a child insurance plan.

What does child insurance do?

A child plan helps your children realise their full potential by going ahead with their education ambitions – even in your absence. At the most basic level, however, child insurance plans help parents plan their children’s future educational prospects better. With the plan providing the wherewithal for education, parents can keep their other sources of revenue and savings intact.

Child plans are designed to create a stable future environment for your child, where the lack of money does not disturb the child’s education or social ambitions. When the plan matures, the policy money can be used for further education, a short break from studies, seed money for a start-up idea that your child has, and so on.

The policy money comes in handy especially if you are absent in the future – it keeps your child’s dreams on track and saves your spouse from the pressure of financing an expensive education.

Even more importantly, it helps you inculcate a regular savings habit when you pay premiums towards the child plan. You may be lax about your own savings at times, but you are very careful about your child’s needs. Also, you need not use your regular income or investments corpus to finance your child’s future ambitions.

So whether your child becomes a doctor or uses the policy money to start the next million dollar IT company, he will always thank you for investing in a child insurance plan to secure his future – even when you’re not there.

Khud Ko Kar Bulund

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