A Child insurance can serve the dual purpose of securing your child’s future as well as financing important events in a child’s life such as marriage, education, extra-curricular activities, etc. Child insurance policy is the biggest security blanket that you can give to your children. A Child plan provides lump sum payment in the event of death of policyholder and waives off any future premiums payable.
At Value Money, find the best child plan to protect your children’s future. Choose among the best child investment plans to bless your children with a financially stable future.
Every Insurance company offers a different type of child insurance plan. Let us look at the two main types of child insurance plans.
This is an investment cum insurance plan where premium paid is used for investing in both equity and debt instruments as per your discretion. This is a risky investment plan but can fetch you high returns as well.
A child insurance policy in which your premium is invested in debt instruments at the sole discretion of the insurance company.
Below are the features and benefits of Child Insurance Plan
The minimum eligible age for getting a child insurance plan is 21 years for the child’s parent who is the insured, whereas the maximum age is around 60 years. The nominee of Child Plan should be aged above 1 month and below 18 years.
Most of the insurance companies have an easy and transparent approach to settling child insurance claims which is initiated when the insured informs the company. After intimating the company, a required set of documents have to be submitted following which the claim will be settled.