Armoring Your Child Against All Odds
Outlook Money|August 2019

Apart from being included as a nominee, life insurance cover is also important for the child.

Ashfaque Ismail
Armoring Your Child Against All Odds

There is no better joy than welcoming a new life into the world. As a parent, you want the best of everything for your little bundle of joy, but somehow, the thoughts of the unforeseen future always lurks at the back of the mind, and you would not want it to affect your child’s future at any cost. Therefore, apart from including your child as a nominee in your term plans, a life insurance cover for the child is also important.

According to financial planners, education and marriage for children tend to be the most common goals that parents have in mind. However, parents tend to buy child-related insurance plans to meet the financial requirements for predefined events, such as education and marriage costs. In the case of education cost, a parent may buy an insurance plan, which provides regular payments each year when the child goes to college for higher education.

Santosh Agarwal, Chief Business Officer, Life Insurance, Policybazaar, stated that most parents, looking to secure their child’s future prefer to invest in Unit-Linked Child Plans. Agarwal said, “No parent wants to think about the worst scenario that could occur to their children. But having a life insurance for your child can build a safety net for their future. Investing in a unit-linked child plan can be the best bet parents can have for their children.” Also, the future premium are waived off in case of the untimely demise of the policyholder within the policy period, she added.

この記事は Outlook Money の August 2019 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は Outlook Money の August 2019 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

OUTLOOK MONEYのその他の記事すべて表示
Gold ETFs And FoFs
Outlook Money

Gold ETFs And FoFs

While Indians love to invest in physical gold, even mutual funds offer the option, but in paper format.

time-read
2 分  |
November 2024
PLANNING TO BUY CHILD INSURANCE? THINK TWICE
Outlook Money

PLANNING TO BUY CHILD INSURANCE? THINK TWICE

Child insurance plans combine insurance and investment but often offer low returns due to high costs, making a combination of a term insurance cover and mutual fund a better option for securing your child’s higher education needs

time-read
7 分  |
November 2024
How Do You Define Happiness?
Outlook Money

How Do You Define Happiness?

Money does buy happiness, but after a while, the appeal fades. We talk about our relationship with money, but, maybe, it’s time to revisit our relationship with happiness

time-read
5 分  |
November 2024
Avoid Crypto As It Is Highly Volatile
Outlook Money

Avoid Crypto As It Is Highly Volatile

I am 22 years old and have recently started working. I want to invest a small portion of money in cryptocurrency. How should I go about it? Does it require a huge capital investment?

time-read
2 分  |
November 2024
Invest Right, Don't Speculate
Outlook Money

Invest Right, Don't Speculate

The lure of high returns and quick gains from equity tips, cryptocurencies, and equity F&O can be enticing. But remember, return of capital is more important than return on capital

time-read
4 分  |
November 2024
The Wedding & Budget: Is Minimalist Trend The Right Knot For You?
Outlook Money

The Wedding & Budget: Is Minimalist Trend The Right Knot For You?

Indian weddings are known for their pomp and grandeur, but minimalist weddings are also in vogue now. Dia Mirza was one such celebrity who went for a minimalist wedding. If you also want to keep things minimal on your big day, here’s how to do it

time-read
9 分  |
November 2024
Here's How To Buy An ETF?
Outlook Money

Here's How To Buy An ETF?

Mutual funds are the preferred choice for retail investors. However, they come at a cost and fund management risk, apart from other risks. A smarter alternative is to invest through ETFs.

time-read
1 min  |
November 2024
How Passive Funds Help Diversify
Outlook Money

How Passive Funds Help Diversify

Passive funds provide a simple way to invest in broad markets as well as in specific themes and sectors, making them ideal for an investor's satellite portfolio

time-read
2 分  |
November 2024
The Rise Of Passive Funds
Outlook Money

The Rise Of Passive Funds

The popularity of passive funds among retail investors has risen post Covid, and fund houses are out with many variations of ETFs and index funds. Does this category present a new opportunity for investors?

time-read
10 分  |
November 2024
Tax Reforms: What's In Store?
Outlook Money

Tax Reforms: What's In Store?

The government is working on reforming the existing Income-tax Act, 1961. The impending reforms have raised many questions in the minds of taxpayers. Will the old regime and deductions be done away with? Will it really simplify your life? What's the need for these reforms? We try to answer these and other questions regarding tax reforms

time-read
10+ 分  |
October 2024