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Why to opt for child plans instead of regular plan
Nowadays, everyone thinks about how to invest some money into various available investment options for safeguarding their future.

Investing for his/her child is one of the top-most priority for any individual as it ensures that factors like rising cost of education and higher studies, healthcare and other related expenses are taken care of. Investing in term plans for overall coverage is a good option however, going by the specific needs of a child, a specialised child insurance plan makes better sense.

Apart from the rising costs, there are several other factors which make it necessary to have a child plan instead of investing in other options. Some of the most commonly occurring questions that come in the mind before buying a child plan are:

-What will happen to your family after your death?

-From where will your child get proper education?

-Who will provide funds to your child for a secure future?

-After you, how will your child live a stable life?

As a parent, these questions may rise several times in your mind. Some chose to ignore them while some take it seriously and start finding the ways to secure their child's future.

You might also be thinking on the same lines and maybe feeling a bit confused on how to go about it. So here is the answer - a child plan which assists your child financially at every important stage of his life is your best option.

From education to marriage, a child plan will be there for your child when you are not. A child plan will provide a fixed amount to your child or nominee as stated in the policy document. In short, it will provide financial support for your child at every step like school, college, wedding, etc.

Benefits of having a child plan:

·Provides financial coverage to your child

·Cost effective

·Secure future aspects of your child

·Provide peace of mind

·Assist your ward in living a stable life

Now, the question that arises is why opt for a child plan for your ward when there are many different options of investment available like the term, Ulips and much more?

The answer to that is fairly simple. Other investment plans which are available in the market have some limitations regarding the payment procedures, whereas the child plan does not. A child plan is specially designed to meet a child's need for a secure future whereas other plans doesn't.

To give you further clarity on why to go for a child plan instead of a term plan, let us compare and discuss their respective features

Which is the best child plan for you?

Normally, people have this question in mind, but there's no appropriate answer to this as the type of the child plan depends upon the requirement of insured. You should carefully compare and then buy the child plan, which suits your need and which meets the future needs of your ward.

How to choose the best child plan

There are many companies in the market, which are offering child insurance plans like Max Life, HDFC Life, Bajaj Allianz, etc. Online child plans are cheaper as compared to offline. You will get maximum benefits at low prices from an online child plan. What you have to do is a thorough comparison. There are many web aggregators that can assist you to choose a child plan online.

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