Plan your child's future with Max Life Insurance
You always want to be there to fulfill their dreams at every step of the way. But just wishful thinking is not enough and you must plan effectively to secure the future of your child. So, here are some factors that you must consider while planning:
The rising cost of education
The costs of education is constantly increasing. In the last 10 years, private school fees has gone up by 150%.* Graduation and post-graduation costs are also going to increase drastically.
Identify the requirement and start as early as possible
Your child’s education is expensive nowadays and makes a major chunk of a family’s monthly budget. Calculate the current educational expenses and plan for your child's future.
Invest according to your risk appetite
If you are a young parent - with an appetite for higher risk and larger returns, opt for Unit Linked Plans. For shorter term and lesser investment risk, consider investing in an Endowment plan.
Look out for the essential features of the product
One of the most important features of a child insurance plan should be to provide a premium waiver benefit. This ensures maturity benefits for your child, in addition to the death benefit in your absence. This implies that in case of death of the life insured, all the future premiums will be waived off so that the policy will continue as it is.
*Sources : ASSOCHAM (May, 2015) Survey
Max Life Insurance Co. Ltd. is a joint venture between Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. Max Life Insurance Co. Ltd., 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurgaon (Haryana) -122002. Insurance is a subject matter of solicitation. Contact toll-free number- 1800 200 5577. For more details on the risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.Trade logos displayed above belong to Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. respectively and are used by Max Life Insurance Co. Ltd. under a license. IRDAI Registration No. 104
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