CHILDREN EDUCATION
Give Wings to Their Future with the Right Investment.
A Children’s Education Plan is a financial product designed to help parents save and invest systematically to secure their children’s education expenses. These plans combine insurance and investment features, ensuring that the child’s educational needs are met even in the parent’s absence.
Additional Benefits of Children Education
Dual Benefit:
- Insurance: Provides life cover to the policyholder (parent), ensuring financial support for the child in case of an untimely demise.
- Investment: Builds a corpus over time to fund the child’s education.
Flexible Payout Options:
Offers structured payouts or lump sums at specific milestones (e.g., for higher education or other significant expenses)
Partial Withdrawals:
Some plans allow partial withdrawals after a certain period to meet interim educational needs.
Premium Waiver:
If the policyholder passes away, the insurance company waives future premiums, keeping the policy active and securing the child’s future.
Examples of Children’s Education Plans:
- ULIPs (Unit-Linked Insurance Plans) for Education: Combines market-linked returns with life insurance.
- Endowment Plans: Provide guaranteed returns along with life cover.
- Child-specific Investment Schemes: PPF (Public Provident Fund), Sukanya Samriddhi Yojana (for girl children in India), and mutual funds focused on long-term goals.
Why Consider a Children’s Education Plan?
- Rising educational costs make it essential to plan early.
- Provides financial security for your child’s future.
- Helps in systematic savings, ensuring funds are available when needed