Give the best gift, that supports your child through life's important milestones
Written on Saturday, June 25, 2016
By Bajaj Capital LI Group
As parents, we ensure that our children can dream big without having second thoughts and hence work towards accomplishing his/her dreams. But dreaming big has a price attached to it.
Would you let your child with immense aptitude and talent, give up on his dreams or postpone any plans and settle for the second best.?
How should your ideal child future planning look like?
- You should have a fool proof solution for your child’s future- No matter what happens, the benefits come for the child at the right time so the benefits should come even after the death of the parent
- Asset to be created right from day one
- Should help you do disciplined savings
- Ensures that the money is not churned and gets accumulated for your child, so that you have peace of mind that you will have right money at the right time for your child
Presenting HDFC Life YOUNGSTAR UDAAN
This plan is ideal for parents who wish to make provision for:
- Academic corpuses that occur prior to college education
- Specific goals like college fees or manage expenses etc.
- All miscellaneous and extra-curricular expenses that occur during college/school
Key Benefits of HDFC LIFE YOUNGSTAR UDAAN
How does the Plan Work?
How do you want money for your child to come?- Lump sum OR Staggered over a number of years
If money is required as lump sum for your child?
If money is required staggered over a number of years, then there are 2 options available
Dr. Chirag Sharma is a 35 yrs old orthopaedic surgeon and has a 3 yrs old son Ishaan. He wants Ishan to become a Doctor like him when he grows up. Chirag purchases HDFC LIFE YOUNGSTAR UDAAN-Career Maturity Benefit with Classic Waiver Death benefit option of Policy term 15 yrs and Premium Paying term of 10 yrs.
However, if Chirag dies during the premium paying term, then Chirag’s dream for his child will not be interrupted, a future premium towards the policy will be waived off and payouts for Ishaan’s education will continue as Chirag had planned, and his family will receive a lump sum as Death Benefit.