The LIC of India has been in the insurance market for the last six decades and has shown a consistent performance record. Gift Your Child Bright Future has grown along with the growth in the market. Earlier, people depended on the LIC agents for their premium payments, etc. The younger generation is interested in buying these insurance policies but they inclined towards the online services offered by LIC. You can visit LIC’s portal www.licindia.com and see all the information related to LIC policies and schemes. As a registered user you can make LIC of India policy status inquiry, pay premium online, etc.
Securing a child’s future is every parent’s responsibility whether it is his/her education or marriage. You have to make a thorough planning before taking any decision regarding the investment plans. You right decisions might help them turn their ambition into reality. Life is uncertain, anything can happen anytime! In such an unexpected world, long-term investments are necessary these days are using the Login information process. The expenses and cost of living will keep increasing but how will you realize your child’s aspirations? An early, rightly chosen decision will make a difference if you start making investments for your child now!
Gift Your Child Bright Future – Choose Your Option
There are two types of child plans available – traditional and unit linked plans. In the traditional insurance plan, you get a definite amount. The ULIP offers a risky return because it depends on the economy at the time of returns. However, the collected savings can be used for your child’s higher education or can be reinvested in another insurance plan.
Gift Your Child Bright Future – Ponder a Little Before Buying
First, you should of the time when you want to buy or invest in a child insurance plan. It is a good option to invest at an early stage because you get ample time to the maturity of your investment. You have to calculate and consider the amount you might get after the plan matures. This gives you get an idea of how much you should expect in return. You should manage your finance so that you are able to pay the premiums regularly and the sum assured by the insurance company is useful.
Gift Your Child Bright Future – Benefits
The child plans offer you double remuneration – both savings as well as protection. In the case of an unfortunate death, the child’s future remains secure because the unpaid premiums are waivered. This is also known as a waiver or premium rider. They are various other types of riders that you can acquire for your child.
The savings in child plans are tax exempted. According to the Income Tax Act, an investment of up to Rs. 1 lakh is excused from tax in life insurance.
Under the education plan, you have an alternative to planning your child’s education in an extensive manner. You can either choose to get a lump sum i.e. sum assured at maturity or in standard gaps of time i.e. as and when your child wants it.
According to the insurance company’s performance, it declares additional benefit as loyalty addition from time to time. It is not fixed and can differ every year. The loyalty addition is designed on the sum assured and added to the lump sum during maturity.
On top of these benefits, there are a lot of other optional benefits. As parents, you should take a clear and an intelligent decision – to get a lump sum at a time or regular funds at regular intervals. Whatever you decide it should make your child’s future bright and secure.
Gift Your Child Bright Future – About the Author
He is a full-time blogger, super affiliate. He is 33 years old and lives in New Zealand with his wife and son.