Page 51 - Insurance Times December 2020

CHILD

INSURANCE : A

LEGACY TO

LEAVE BEHIND

C hildren are always a bundle of joy. Right from to have better and brighter future and career, you need to

devise a financial plan for your child's future. Life Insurance
the time they enter your life, all grown up and
independent your children are your pride and
stands out to be a better alternative.
bliss. Every responsible parent looks for the best
of everything for the upliftment of their children. They can The biggest financial worry most Indian parents face about
go that extra mile to see to it their wards become a Success. mitigating the overwhelming and ever-increasing cost of
education. According to a survey conducted by national
Why should you save for your children? sample survey office, the cost of general education has shot
If you want to nurture your infant, pay for his /her school, up by staggering 175% between 2008 and 2014. At the
college fees you need to spend money. If you want your child same time, the cost of professional and technical education
has risen by 96% taking this account, it has become critical
About the author for parents to plan for their children education.

Vijay H Kakhandki Question is that how do you plan? for your child's future.
He has worked with leading Insurance There are many options to fulfill the child's need for example
Companies including PNB Metlife, investment in equity, bank fixed deposit, mutual funds, but
Reliance, Bajaj Allianz Life, Max-Life, in all of them have their own pros and cons. While your
multiple capacities. investment might yield you a considerable corpus to provide
Currently, he is associated with MABFSI for your child's future expenses. What would happen if you
since June'16 as Faculty with Life face pre-mature death. How would you secure your child's
Insurance vertical. future then?
The Insurance Times, December 2020