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Child Education And Marriage Insurance

By Author: Raj
Total Articles: 3

Child Education and Marriage Insurance
 
What is your greatest urge being a parent? Surely, it would be to provide the best of everything to your child. You look forward to your child’s every need. But have you wondered how will you sustain your child’s dreams without sufficient resources? And if something were to happen to you, what fate will befall them?
 

 
Why Child Insurance Policy?
 
Child insurance plans are purchased by the parents or would-be parents for their child’s better and secured future. This is like any other insurance policy where payments are made against a corpus to be received on maturity. But, these policies are tailor-made to realize the needs of your child. You can take the policy in your name or your child’s. But, in either case, the ultimate benefit is released to your child.
 
Two major life stages demand a substantial amount: higher education and marriage. Child insurance policies give you an option to choose the payout stages. You can choose to receive payment at the age of 18 years and 25 years, i.e. at the time of opting for higher education and getting married.
 
Benefits of Child Insurance Policy
 
In today's uncertain world the child insurance plans help you support your child’s necessities, aspirations and future by rendering such benefits as
 

The policy helps you meet financial needs of your child for a medical emergency, higher education and marriage.
In case of untimely demise of parent regular payouts till the end of policy are made to the child to fund his requirements of School fees, higher education, medical requirements etc.
The plan opted can be either money back, or money back clubbed with endowment plan.
Waiver of premium in case of death of the parent liable to pay premiums, but no reduction in benefits to the child.
Tax benefits can be availed by parents on premiums paid under section 80C of Income Tax Act 1961.
Maturity received is even not liable to taxes as per section 10 (10D) of income tax act 1961.
In case the policy opted resorts to the purpose of solving medical problems the may be eligible for income tax deduction under section 80D.
Reversionary bonus continues to accrue till maturity even in case of unfortunate death of a parent.
The insurance company guards your child: on the parent’s passing away, the remaining amount due on policy is paid by the insurance company itself for the safe future of your child.
Option to choose Riders to avail the maximum benefit from the child insurance policy taken.
Special loan benefits are offered to the policyholders under child insurance policies.
Payment of policy is received in lump sum in case of permanent or critical disability.
Child Insurance plans give you an option to make partial withdrawals at times of financial support needed.
Payment for policy can be made in one go or can be paid by way of regular premiums throughout the life of policy.
The child insurance policies can be customized as per one’s requirement at an affordable cost.
Child insurance plans offer you multidimensional advantages of investment, savings and support system to nurture your child’s talent.

 
At Edelweiss Tokio Life Insurance, we believe: ‘insurance se badh kar hai aapki zaroorat.’ Child Insurance Policy is our effort made in direction to right parenting. Build your assets over time to safeguard your child’s future even at times when you are not around. This saving in instalments helps you to be the strengthening pillar to your child’s dreams and successfully accomplish your parenting goals.

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