Best Child One Time Investment Plan^~

With the comprehensive benefits of child education plans along with wealth creation, can you think of a better deal to ensure a bright future for your child? This article features some of the best child education plans as one-time investment options*. Investing in one of these could prove to be the most sensible decision in financial planning for your child's future.

While the list may not be exhaustive, it should give you an understanding of the kind of child plans to invest in. Read along to make the best investment decision that will ensure a better tomorrow for your child.

How Is the Best Child Plan a One Time Investment^~?

Raising a child is not an easy task. With rising inflation, you must have good financial backup to save yourself from burning your pockets. Choosing a one-time investment plan for your child’s future will help ensure that they receive sufficient funds for each milestone of life. It is advised to purchase the best child education plan as a one-time investment that protects them after your demise and also creates enough capital to fund their educational pursuits. Potential buyers should invest in one at their earliest to let the power of compounding take effect and maximize their returns. 

Key Highlights

Today the Indian market is flooded with innovative child education plans as one-time investment options offering diverse features and benefits. The key to making the best choice is to make an informed decision timely. Choosing the best one-time investment child plan ensures that it provides coverage and adequate benefits that give wings to your child's dreams. 

The following are some important points you must consider while choosing a child plan:

• The child plans’ benefit amount should be sufficient for those individuals who have an unsteady cash flow and payouts manageable in the case of fortune received from a fount.

• The child plan premium is less when compared to any other regular policy premiums. This is so because the policy is bought in cash rather than making the prospective payments as installments. There are, however, several child education plans that offer the benefit of periodic premium payments as well. 

• The other highlight is in regards to the taxation benefit wherein you obtain the advantage of Section 80C in the initial year for the single premium plan against regular plans.

The table below highlights the child education plans^≈ – one-time investment options offered by various insurance companies in India:

Disclaimer: ≈ Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is done in alphabetical order (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

How to Make the Best Child Education Plan a One Time Investment?

The key is to make an informed decision timely to reap the best benefits. The one-time investment child plans ensure that it provides adequate coverage that gives wings to the dreams of your child. 

The following are some important pointers that every parent must consider while choosing the child plan in 2023:

1. Take the Decision Timely

   It is prudent to act as early as possible. A timely decision works in your favor and helps you retain adequate coverage until your child is ready for higher education. Moreover, an unsaid rule in the insurance industry states that the earlier you buy insurance, the lower the premium rates are.

2. Beat the Inflation

   When choosing a one-time investment child education plan, make sure that you select an adequate sum assured for guaranteed protection. In case it does not happen, the accumulated corpus may not be sufficient for the days of high inflation. The sum assured decided by you should be inclusive of projected inflation for the coming years.

3. Waiver of Premium

   Most child insurance companies generally offer the option of waiver of premiums. In case your child's plan does not include this feature, you can add it as a rider option. It ensures that if the policyholder passes away, the nominee or child receives the waiver of premium benefit along with the sum assured. 

4. Option of Partial Withdrawal

   The partial withdrawal feature act as the safety cushion in case an emergency fund is required. You can get in touch with your insurance company to claim this offer during times of need. It is a crucial feature to have while buying a child's education plan.

Investment

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The Bottom Line

The journey of parenthood is not easy, but rather full of responsibilities where you must take care of your child and fulfill their needs. Choosing an adequate child plan as a one-time investment can assure the financial safety of your child even after your death. 

You can buy the best child insurance plan as a one-time investment option online, and compare the features, quotes, and make a wise decision to secure your child's prospects.