A good education sets your children up for success in life. Our unique plan combines protection with savings and investment benefits, so you can grow the wealth you need to support your children’s education and their future. Child education plan gives you various benefits such as life cover, building a corpus for the child’s future needs and the option of adding specific riders. Here I am describing what is child education plans and some of best child education plans. Check those out below.
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What Is Child Education Plan?
A child’s education plan offers the combined benefits of savings and protection. Some insurance plans provide the opportunity to create wealth as well. Child education plans are designed to provide financial security to your child so that his or her education never gets hindered due to an unfortunate event in the future.
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Why Did Child Education Plan Is Required?
- Child Education Plan is required as the cost of education is increasing.
- Child Insurance plans have the benefit of Waiver of Premium, which says that if something happens to the parent, all the future premiums are waived off and are paid by the insurance company and thus the goal for which child planning was done does not get defeated.
- Also, it inculcates tax savings under the prevailing income tax laws.