Your kids have dreams. They will start planning a great future and might want to conquer the whole world. And all you have to do is to make sure they keep doing what they want to do. But without quality education, there is no bright future. You must buy a child education insurance plan right away – it helps you in monetary terms, and keeps your children’s dreams on track for success.
Why you should buy a child education insurance plan:
High Cost of Education:
You already know how expensive it is to live and educate yourself. Education will be even more expensive in the future. From school picnics, fancy dress competitions, sports equipment to exorbitantly high tuition fees in school and colleges, you have to be ready to pay huge amounts for your child’s scholastic career.
Get More For Small And Regular Investments:
By investing an amount of money regularly, your investments compound into a handsome sum in the future. This corpus would reduce the financial burden of higher education and take off the worry about making timely fee payments for your child’s university degree.
Avoid Loans:
The most common way to arrange funds for expensive degrees is an educational loan. If you’re a young parent, you might already be paying your education loans right now. There may even be a car loan or home loan in your life. Why take up additional liability? That is the time when your savings that you started doing today will help you the most. A child investment plan takes away the pressure of applying for a fresh loan.
Investment and protection:
Through a child education policy designed for child education, you get the dual benefits of insurance and investments through the best child education plan. By adding a waiver of premium rider, no future premiums need to be paid in your absence. Even if something were to happen to you, your child’s dreams would not be stopped. It will help you in keeping the promise intact. Your children can go to whichever country and opt for whatever course of study they want.
Tax Benefits:
You also get tax benefits with a child insurance plan. The premium is deductible under section 80(C), and the maturity amount is exempt from tax, unlike fixed deposits or equity shares, which attract a long-term capital gains tax.
Child education insurance plans save you and your child!
Take the right steps at the right time; be the parent who is prepared for the future. Invest in the right child education policy that helps in securing your child’s future, in your presence, and even in your absence. Do note that even in your absence, the child plan pays for your kid’s education and makes their dreams come true.