Some of the questions that may bother you, as a parent, are, “Can I afford my child’s education in the future?”or “What if something happens in the event of my death, how will someone take care of my child?” Maybe a good question to start with is - “Should I buy a child insurance plan?”
We want to see our children go to the best schools, colleges, and universities. We want them to have a good life in the event of any unfortunate incident that may happen to us. Yet, the outrageous costs of higher education and securing a college degree continues to be a challenge. More than 60% of the parents surveyed by ET Wealth showed that the primary reason for stress is the rising costs of education. Adding to this statistic, on an average, 90 Indians die every second due to an accident - as stated by the National Crime Records Bureau. This means children are left amongst the most vulnerable. They do not have anyone to depend on and rarely have an additional source of income for survival besides their parents. This is a frightening thought for most parents. We take so many steps to make sure our children are well off and secure in the future, having a child insurance plan is one of them.
Having a child insurance plan will ensure that your child gets a lump sum payment on the untimely death of the policyholder. All future premiums are waived and the insurance company bears all the remaining costs. It also ensures that he or she gets the money at specific intervals, ensuring all the child’s needs are taken care of.
The Smart Junior Plan by Canara HSBC Oriental Bank of Commerce Life Insurance is specifically tailor made to achieve all your child’s future educational needs, in the event of any untoward event. As parents, we need to plan. And making sure our children have the best life is what keeps us satisfied and happy.
There are manifold advantages to having a child education plan. While it secures your child’s future, this plan also comes with the following benefits:
Life is full of uncertainties. To protect your child as much as possible from such mishaps is to insure them against any financial exigency that might arise in the future. We tell our children to dream big, to not compromise on anything, and assure them as much support as required. By evaluating your child’s needs and requirements you can opt for the best policy term option available. It is better to be safe than sorry, especially when your children are concerned.
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