Dreams Come True with the Best Investment Plan for Children

As a parent, what's your primary duty? Yes, you are right; it is to save enough for your children so that they can achieve their dreams. After becoming parents, most of us start living a selfless life. We devote everything to the good fortune of our children. And when we see our children happy, we feel very good.

Just Think of the day when your child brings home a degree after he graduates?  Even imagining this makes us happy and emotional. But this can be done only if you manage your finances in a proper way. Great present planning leads to a better future. Having the best children plan can help you with this. There are so many good reasons to purchase the best investment plan for children, such as:

● Inculcates a habit of savings

● Protection against serious illnesses

● Collateral for loans

● Taking care of your child’s education

So now that you have made up your mind to purchase a children plan, how about we dive in a little deep to understand what type of a plan should you invest in. In this blog, we have come up with the best children plan that will provide a high financial security level to your children. 

Types of the Best Investment Plan for Children

• Child ULIPS

A Unit Linked Life Insurance Plan is an insurance policy that doubles up an investment. Under a ULIP plan, at the end of the maturity period, an amount is paid to the child. The child's ULIP has triple benefits- First, on the parent's untimely demise, the child receives the benefits for daily expenses. Secondly, the child will get a regular monthly income to fund education expenses. Third, since future premiums are paid out, the final maturity amount is also paid. 

• Child Savings Plan 

This plan allows the policyholder to invest in the plan without taking on any risk. It is a multi-faceted plan that offers life cover, maturity benefits, and tax benefits, all in one single policy. The amount you will receive at the end of the maturity period will give your child financial protection. 

• Reasons to Choose ICICI Pure Life Plan 

ICICI life insurance plans? According to the user's reviews and satisfactions, ICICI Pure Life Plan has come at the top amongst the other child insurance plans. The following are the common reasons that have made this plan popular 

• Lump-sum Benefit 

The plan offers lump-sum benefits to the child in case of the parent’s untimely demise. This will help him overcome any financial challenges. 

• Waiver of Premium

Your child won't have to pay a premium as the company pays it on your behalf. Thus, your child can continue with the benefits of this policy. 

• Partial Withdrawal

You are free to withdraw the money anytime, subject to conditions. This takes care of your child's unexpected demands. 

• Tax Benefits

The premium paid for this plan is exempted from tax deduction under section 80C of the income tax act.

• Final Say

Now you understand how a children plan can make your child live hassle-free. We advise you to review the ICICI Pru Life insurance plan because it grows your investment and secures your children's educational milestones. 

Let your kid's dreams come true with the best investment plan for children!