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A child insurance plan allows monetary security to your child by helping you accumulate a lump sum amount over a period of time. Let us read about the inclusions and exclusions of a child insurance policy.
If you are willing to secure the future of your children financially, a child life insurance plan is the best investment for the purpose. A child insurance plan is a twin benefit plan that offers both investment and insurance. Thus, it allows financial safety to your kids by creating a corpus through the term of the policy along with providing the security of life insurance. The corpus received at the time of maturity of the plan can be used to incur the expenses of their higher education, career goals as well as their marriage expenses.
Another significant benefit of a child insurance policy is that it continues even if the parents or the policyholder dies in an unfortunate event during the term of the policy. So, in this case the insurer invests the premium amount on behalf of the policyholder and offer the child total benefits at maturity as per the plan. Hence, the security that you aim for your child with a child insurance plan stays intact and the benefits are received at maturity. Thus, the child insurance plans allow security of higher education to your kids when they reach college.
Let us take a look at the inclusions and exclusions of child insurance policies in India.
There are certain situations under which the insurance company does not provide the death coverage under a child insurance plan. The following are such exclusions of child insurance policies:
It is established from the above facts that child insurance policies in India are highly beneficial to secure the future of a child. The insured can pay the premium of child plans via online or offline mode. Online payment is very easy and can be done from the comfort of your home.
However, it is important that the policyholder considers all aspects of a child plan in terms of their features and benefits before buying the plan. This way, they can buy the best policy suiting the child’s requirements.
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