Child Insurance Plans: Importance and uniqueness that every parent needs to know

Planning for the child’s future is an important step in every parent’s life.

Child insurance plans are one of the tools that help parents secure the financial future of their child. These are premium life insurance products designed to meet the financial needs of your children—be it higher education, marriage, establishing them while starting a career or a business, among others. A child is someone who is totally dependent on you—physically, financially and morally. If something were to happen to you in your child’s early years, it could be a major hindrance for her/him. So, it is always wise to consider the consequences of your untimely demise.

Through child insurance policies, you not only save regularly to meet your children’s needs, but also ensure that their financial needs are taken care of in case something unfortunate happens to you. They can be purchased against the life of any one of the parents with the child as the nominee.