New Delhi: While you may have placed your hard-earned money in several good investment schemes or plans, a safe and sound financial journey would be incomplete without purchasing an insurance policy. The need for a term insurance has found an even greater importance during the Covid pandemic.
Along with maturity and death benefit, policy loans and guaranteed additions give you the assurance that your child’s future is safeguarded.
Pays out at different stages of life
In case of the tragic death of the parent, the child’s future will be safe and secure as with the 3 maturity benefits, the kid’s growing needs will be catered for.
A parent can ensure lifetime security of their children at an affordable price. By paying premiums for a limited tenure, they can enjoy comprehensive coverage throughout the term of the policy.
You can choose from 3 options based on the financial goals of your child:
1- Aspiration Option
It gives the support to provide for the larger responsibilities of life. In this, a lumpsum is paid at maturity (Endowment).
2- Academia Option
A planned and correctly timed investment for your child’s education need. In this, the payouts are offered in the last 5 years before maturity (Moneyback).
3- Career Option
This option gives an added advantage to kick start your child’s career. In this, the payouts are offered in the last 5 years before maturity (Moneyback).