Why Do We Need Children’s Life Insurance Plans
With rising education costs, and unpredictable health conditions and death situations, it is only natural for any parent to protect their child against these adversities. One of the best ways to get over this worry is to take a sizeable insurance cover.
A child insurance policy offers a lump sum payment to the nominee on the death of the parent and all future premiums are waived. The insurance company continues paying premium on behalf of the policyholder. The child gets the money at definite intervals which mark important milestones in the child’s life.
A child insurance plan will make the parent continue investing year after year, ensuring they save prudently for the kid for their future.