Learn How ULIP can Help Build Your Child's Dream
When you welcome a bundle of joy into your family, you realize that being a parent is one of the most beautiful feelings in the world. Apart from showering your little ones with love, you also need to make sure that their future is secure.
With the rising costs of education and ever-increasing competition, it has become critical for you as a parent to plan these things as early as possible. This allows you to have adequate funds to pay for your child's fees and bear their educational expenses with ease when the time comes. The only way to save realistically enough for this purpose is to take inflation into account when saving for your child's education. This is where a ULIP policy comes into play!
ULIP is the best investment plan if you want to adequately save for your child's education, protect them against uncertainties, and ensure that their life moves on even in your absence. With disciplined investments, ULIPs offer you the right tool to pay for your child's dreams.
Children's insurance plans have been designed in such a way that they help you build a corpus of funds to pay for not just your child's education as well as their other needs along the way. A ULIP policy takes all these goals into account to help you secure your child's future.
Why ULIPs?
When your child is born, you need to start setting aside money to pay for their basic needs. Apart from that, you would also have to pay for their school, college, and any further education that they may plan to take in the future.
Do you think you have enough money to support these needs? This is the first question you need to ask yourself when planning for your child's future because it will help you realize that savings alone will not be enough.
You may think that putting aside a certain amount of money in fixed deposits will be enough to pay for these significant expenses. However, did you take the inflation into account or returns on your investment that can expand your corpus? What about financial security if something untoward happens to you?
As a parent, you need to analyze all these factors and cover all bases when choosing the best investment plan. ULIP considers all these parameters and comes up with a perfect plan that helps you meet your child's future needs, beat inflation, give a decent return on your investment.
Additionally, it helps you increase your corpus, secure your investment, and also give your child the financial security to cover for eventualities. No fixed deposit or bank savings will be able to provide this level of protection to your child!
If you plan your investments with the right ULIP policy, then you can help create a sustainable future for your children where they can be anything they want!
The ULIP Advantage – Save For Your Child's Dream
Image Source: Shutterstock
The main benefit of investing children's ULIP is that you get not only a life insurance cover but also an opportunity to participate in the equity market to get maximum returns with ULIPs on your investment. What's more? You can make your ULIP policy more comprehensive by taking multiple rider options.
Moreover, ULIPs are considered as the best investment plan because the policy nominee gets the sum assured in case something happens to you. Besides, all the future premiums are waived off, and the company will continue to invest on your behalf. All these factors together playa huge role in securing your child's future as well as their career dreams.
By investing in children's ULIP, you get a high cover for a low cost with the added advantage of the policy continuation in case of your sudden passing.
Benefits of Investing in Child's ULIP
By investing in a child's ULIP policy, you will be able to create more wealth and save money, at the same time, secure your child's financial interests with a life cover.
These investments offer you high returns by keeping inflation as well as your risk profile in mind. ULIP is called the best investment plan because it gives you a basic life cover with a wealth creation opportunity. Besides, it also comes with a 5-year lock-in period that keeps your savings intact, allowing it to grow.
A fund manager will take care of your investments and allocate your funds that are suitable to your risk profile. As a result, what you get is the best returns in the long run. But most importantly, ULIP policy is safe from all contingencies, which means that your child's needs will be fulfilled even if you are not around! Depending upon the policy terms, your child will get a lumpsum amount immediately in case of your unfortunate passing.
As a parent, you must start investing in your child's future immediately. The sooner you start, the lesser premium you will have to pay. Online ULIP policy provided by insurers, such as Max Life Insurance, enables you to protect your child against all eventualities. Make sure you have researched the benefits and compared various policies before making an investment decision.
Similar Articles
ec58.jpg)
In the dynamic landscape of financial markets, savvy investors are always on the lookout for opportunities to enhance the resilience of their portfolios. One avenue that has stood the test of time is investing in gold. In Australia, the significance of gold as a precious metal goes beyond its intrinsic value and aesthetic appeal; it plays a crucial role in diversifying investment portfolios.
Gold has always been considered an asset for the wealthy. From kings to commoners, Gold has been attached to the status of its owner and has been the subject of jealousy among its peers
Every person in the world right now is talking about making a bitcoin investment. It's because the same thing helps them in offering plenty of major advantages in their business or daily life when it comes to making online transactions.
FD or Fixed Deposit is a way of investing your money in a lump sum amount for a certain tenure. The principal amount deposited earns interest cumulatively in the tenure period. FD generates an amount of interest that is greater than that of a savings bank account.
There are various reasons why you should invest your money in a fixed deposit. Due to the prevalent market conditions, the growth in various sectors has decreased. The economic growth is stagnant; return on investment is decreasing while the risk is increasing.
Amidst the rising inflation rate in India, a single earning source is not enough. It is why investing a small amount regularly in different financial instruments makes sense. One common problem that many people face is to enforce a habit of investing periodically.
So you have recently planned to invest in a property? Are you looking out for ways to minimize the risk? Here are the thumb rules to help you grow a substantial property portfolio with minimum risk involved.
Family offices are advisory firms that provide comprehensive solutions to effectively manage the wealth as well as finances of affluent and high-net-worth families. However, with the advancement of technology, there has been a paradigm shift in the way a family office works.
Do you live, breathe and eat words like ‘Research’ and ‘Innovation’? It all sounds good to be the change and bring a change in the lives of others. But when reality strikes you come to know that people with the sharpest idea are poles apart from people who have the money to fund those ideas.