Child insurance plan
Child plans are a tool for raising funds for the insured’s children. Children’s plans are especially helpful in building a corpus for child rearing and marriage. In general, children’s plans offer either an annual payment or a lump sum when the insured’s child is 18 years old. The kids plan offers the best benefits.
If one of the insured’s parents died prematurely during the insurance period, the insurance company must pay the premium immediately. In such cases, some insurance companies will exempt future premiums, but the plan will continue until maturity.
The benefits of the child plan are:
Financial Assistance - Secure the future of the insured’s child, even if the child’s parents die.
Safe Future- It helps parents raise money for important events in their child’s life such as education, weddings and more.