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Uses and Benefits of Child Insurance - All you need to know


By / Last Updated on: Mar 30, 2022 12:02:49 IST

Know Insurance benefits

Every child has a dream within them on what they want to become and what they want to achieve. If you are worried how you can provide financial support to your child, then you can try looking into child insurance options for securing your child’s future

With child insurance it would be easy to save up financially through premiums. At the end of the term, this can be used to enroll your child at a premium institution of the specialized stream your child wishes to pursue.

 

 

Benefits of Child Insurance

 

1. Less Stress

By investing small amounts throughout a longer period of time, it reduces your burden to save up for your child’s future

 

2. Tax Benefits

By opting for health insurance, you can reduce your tax liability by claiming it in the 80C section. Additionally, returns are also tax free under Section 10D.

 

3. Safeguards your child

During unforeseen and unfortunate events, child insurance policies protect your child by giving them a secured future. Depending on the policy, your child will receive monetary benefits that will help them to pursue their dreams.

 

4. Aid in loans

Most banks accept Child insurance as collateral to procure higher education loans. This would enable your child to get loans with minimum hassle

 

When can one opt for Child Insurance

•  You are the only breadwinner for the family and you have dependents

•  You wish financial support for your child of medical emergencies

•  It is better to start early in procuring a child insurance

•  To secure your child’s future

 

Our Suggestion for child Insurance

It is ideal to start a child insurance to bear your child expenses in the future. Contact us for a consultation on which child insurance policy suits you and get you geared up for the future.

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