Childhood is a tender age. With so much to learn and discover, children actually have the whole wide world to conquer. As parents it’s our responsibility to guide and support them rightly throughout this learning phase. But the rising cost of living especially the soaring cost of education weighs down heavily on many. Children insurance plans therefore come across as well designed module that help convert small annual savings into worthy investments that can help your children reach their desired heights.
Benefits of Child Future Plans by LIC
- Cost of Education: The inflation index is on a rise. Part of it is because of the rising cost of quality education. A children insurance plan helps you to prepare for the soaring costs well in advance.
- Multiplication Effect: An investment in children insurance plan gives a much higher return than a regular yearly saving. The multiplication effect helps you combat the inflation index in a great way.
- No Loan: As against education loans wherein you pay hefty interests and disturb your routine lifestyle, a child insurance plan repays you much more than what is invested.
- Life Protection: In addition to the saving feature, a children insurance plan comes with an inbuilt life cover. In case of a mishap, the sum assured is paid to your family. This ensures that your child’s education expenses are met even in your absence.
- Tax Benefits: All premiums paid under a child insurance plan are eligible for deduction under the Income Tax Act.
LIC’s Best-selling Child Insurance Plans