5 Reasons You Must Buy Child Insurance Today!
Updated On Oct 17, 2021
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Parents are always concerned about their children. Be it their health, education or marriage, anything related to a child's welfare is of significant importance for parents. If you too are a parent highly concerned about their child’s future, it is advised to emphasize the need for child insurance. If a bit surprised with the mention of child insurance and questioning its importance, know that you, as a parent, with one of the best child insurance plans, can easily ensure that your son or daughter has a stress-free future ahead even if you are no longer by their side to provide.
Every individual thinks about their child’s prosperous future and good health from the perspective that they will always be there to support their son or daughter. But, we cannot ignore life uncertainties that can make us apart from our children and provide for them. Here comes the role of child insurance.
5 Reasons You Must Buy Child Insurance Today
Below mentioned are one of the prime reasons you must buy child insurance as soon as possible:
- Death of Parents - Life is uncertain and can take away from you all that you love for and live. If you haven’t thought about the future of your children in your absence, go ahead and buy a child insurance plan. Why? It is because having this insurance by your side will ensure that even if you are no longer there to provide, your children won’t have to pay in your place. In case of your untimely death, the insurance company will provide a waiver on the premium on the child insurance and give the beneficiary (your child) a lump sum. Your child will no longer be required to make premium payments.
- Education Support - Just like healthcare, education is far from cheap in India. Remember, school fees and multiple expenses associated with your child’s education won’t come easy. As a matter of fact, if and when your child decides to opt for higher studies, your overall expense would significantly increase. However, with a child insurance plan's presence, you will be able to lessen the financial burden associated with your children’s education.
- Safety Against Serious Illness - In case your family has a history of serious illnesses, you must buy a child insurance plan without thinking twice. By purchasing child insurance today when your child is healthy, you will help your child avail superior treatment if they fall prey to any serious disease. The child insurance money along with health insurance will ensure that your son or daughter are safe.
- Collateral for Loans - You must be aware of the fact that a child insurance plan is widely accepted by all banks as a collateral if an individual wishes to take an education loan or personal loan for their child. This amount would be of immense benefit for your son or daughter when they need a lump sum for higher studies.
- Saving Habit - Insurance and investment are the two key benefits that one gets from child insurance. The reason to buy child insurance could be any, but a key point that none can ignore is that paying periodical premiums is a habit that one gets used to when paying for a child insurance policy.
That said, what are you waiting for? Go ahead and get your child the protection they need in the form of child insurance without further ado.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.