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ChildEducationPlan
A child education plan is made to assist kids in pursuing their educational goals in any subject they select.
These plans include a life insurance component and ways to maximise discounts on timely premium payments.
With the lump sum payment at the end of the insurance term, neither you nor your child will face financial hardship when it comes to paying for highereducation.
TypesOfChildEducationPlans
ChildULIPPrograms
TheseChildEducationPlanprovidealump sumpayoffattheconclusionoftheinsurance term. Althoughthematurityproceedsoftheseplans maybeusedforanypurpose,theprimarygoal istogivethechildforwhomtheplanis purchasedmoneytocoverthecostsofhigher education.
Thistypeofchildeducationplanprovideslifeinsuranceas wellasguaranteedreturns. Theseplanstypicallybeginmaking4distributionsonce thechildturns18thatareeachequalto25%oftheamount assuredplusanyapplicableincentives. Duetotheguaranteedpayouts,thistypeofchildcoverage carriesalowamountofrisk.However,thesetactics typicallyofferverymeagrereturns.
ChildEndowmentPlan Interest
EducationCorpusforChildren MaturityPay-outs TaxAdvantages Inflation-BeatingHighReturns Supportsthechildwhileaparentisnotpresent KeyFeaturesOfChildEducationPlans ShouldYouInvestInAChildEducationPlan? TheSystematicInvestmentPlan(SIP)investment optionforequitymutualfundscanbeagoodsubstitute forchildeducationplans.
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