Planning for their children and giving them the best of everything is every parent's dream. Child's education and marriage requires a lot of systematic planning. These are generally goal based planning and thus some amount of money needs to be allocated every month.

For an adequate education nest egg, critical for your child's higher education, you will have to do three things right: invest the appropriate amount, at the right time and in the right mix of investment options. A savings effort that factors in these three points will help you clear the fourth hurdle which is inflation to building a substantial education nest.

Why Child Insurance is required?
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    Increasing cost of education, because of which one needs to star saving early.

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    For the overall development of child and to make him an all rounder in all the fields, child planning becomes necessary as it increases the overall cost of education.

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    Child Insurance plans has the benefit of Waiver of Premium, which says that if something happens to the parent, all the future premiums are waived off and are paid by the insurance company and thus the goal for which child planning was done does not get defeated.

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    Also it inculcates tax savings under the prevailing income tax laws.

Parameters to be taken into consideration while doing Future planning for your child?
Start as early as possible

Generally the tenure for planning for your child is 12-15 years. Thus one should start planning early so that you are able to create some amount of corpus at the time your child requires. Also the compounding effect reduces if you start late. Thus planning for your child on time is important.

Place security with Life Insurance cushio

Thanks to the insurance cover, even in the event of your death, your child's higher education can proceed unhindered

Waiver of Premium concept

The benefit of waiver of premium is very important in context of child plans. This says that in case anything happens to the father of the child, the insurance company will waive off all the future unpaid premiums and will pay them on behalf of the parent. On the other hand, all the future benefits would remain intact.

3 Thus the purpose for which the child plan was taken doesn't get defeated.

Make your current investment by taking into account your child's future goals A 2 yr MBA which will cost Rs. 5 lac today would cost Rs. 33.63 lac after 20 yrs at an inflation rate of 10%.
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Insurance products are sourced through Bajaj Capital Insurance Broking Limited, an IRDA licensed Composite Broker bearing Licence No. 241, Licence Code CB 042/02.