The birth of a newborn is a momentous occasion in a couple’s life. With all the joy and celebrations, also come a host of responsibilities. As you become a parent to a child, his or her well being is the foremost on your mind. So when it comes to giving your child a good education you want to provide for the best.
It is important to start saving early in order to build a corpus for your child’s education. You also need to take the rising inflation into account when choosing an investment option to ensure that your savings do not fall short of the amount required 20 years from now. Here are a few child investment plans that not only help you save tax, but also help you generate higher returns that can help you accumulate the estimated amount for your child’s future education:
These are some of the tax saving investments that you can include in your financial portfolio to meet the future needs of your child when he or she grows up. Invest 4G plan from Canara HSBC Oriental Bank of Commerce Life insurance allows you to invest in 7 funds which range from equity, to debt and even a combination of both. 4 portfolio strategies can be chosen as per your risk preference.
You can also make partial withdrawals to fund any immediate needs and opt for the life option with premium funding benefit which not only disburses a lump sum amount in the event of the insured’s death but also takes care of the payment of future premiums as well. So choose an appropriate investment plan today so that your child can live their dream even when you are not there.