There is nothing more important than a child to a parent. A
parent would go to any length to ensure the happiness of a child. He/She is
responsible to not only take care of the needs of the child but also prepare /them
well for a secure future, to be self-sufficient and ready for all that life has
to offer. But, how does one ensure lifelong support to the child? How do you
make sure that your child’s future is secure even if you are not around?
Life insurance is very important for a safe and conducive
future. It not only gives him the confidence but also assures a quality life. Therefore,
to take up a plan that protects child future is essential. A life insurance
plan allows you to invest for him in a way that he/she always has a ‘fall back
option’.
You can invest in a term life insurance which is meant to
protect the family and provide financial backing in case of an unfortunate
event. A term policy also allows
you to save taxes, which in turn saves a lot of money that can be reinvested in
your child’s future. Also, in the event of a payout, will be tax free.
In turn, it also makes the child more accountable and ready for his future as he knows that an investment has been made in his/her future which in turn makes him/her more aware of his/her duties.
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