Best Child Insurance Plan in India

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Best Child Insurance Plan
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Best Child Insurance Plan In India
No joy can be greater than becoming a
parent and to have your child in your
arms.
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Importance of a Child life insurance plan?
A best child insurance plan is needed to make
certain that his/her future is secure. It is
needed to aid them in leading a life of their
choice by catering to the specific requirements
and dreams of every child to make certain that
his/her needs are fulfilled at the right
time. To help them in getting their choice of
education as well as assist them in extra
curricular interests. To ensure that they can
choose a career of their interest, without
worrying about the economic support. To make the
dream of a perfect wedding come true both for
parents and their children.
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How to select the most suitable Child plan? If
you are wondering on how to choose a suitable
child insurance plan, then have a look at these
suggestions below. Understand the probable
future needs of your child then choose the plan
which can fulfill those specific
requirements. Consider every angle of the risks
and your capabilities to bear them. Do decide
with careful evaluation that whether you want to
reap all the benefits at once or at different
stages. You can choose broadly from two
variants traditional plans and ULIPs.
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Best time to choose Child Policy There is no
specific time. You can decide on child insurance
as soon you realize that it is needed. It can be
on the day when your baby is born or the day
he/she goes to school for the first time. Things
to be careful of When finalizing an insurance
plan for child, make sure you have a trusted
appointee for the plan. In case of your unseen
absence, the appointee should be capable of
taking care of your child in the best possible
way till your child becomes capable of handling
his/her responsibility himself/herself.
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Types of Child Plans -  Child ULIPs- A fraction
of the premium flows into debt instruments and
the rest into equity instruments. The decision of
switching between the funds remains in the hands
of the insured. Since it's a market linked plan,
the return is decided by the net value of the
assets at the maturity period. Child Endowment
Plans- The premium flows into debt instruments,
the decision of which is at the discretion of the
insurance company. Return is decided by the bonus
payable on maturity.
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Features and Flexibilities of a Typical Child
PlanWork out the detailed specifications of the
needs you are looking to fulfill through a Child
Plan. Here are the key parameters you should look
for- Premium Amount- It more or less depends on
the Sum Assured and Maturity Amount you
choose. Mode of Premium Payment - Regular
premium- As the name implies, the premium is paid
on a regular basis. This can be yearly, half
yearly or even quarterly. Single premium - The
premium is paid as a single payment.
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