Child Insurance Plan – Is it required? Every parent dreams of a secure and healthy future for her child. While the basic concept of child insurance was financial security, today it is seen more as a valuable investment tool. This has opened up several options in terms of child insurance. But the main question is this: is child insurance really required? Benefits of child insurance Besides being an investment tool, child insurance plans are designed to offer the child a financially secure future at specific life stages such as: Pursuing education Studying abroad Settling in life (marriage, etc.) Ongoing living expenses on losing a parent The future premium waiver option without loss of benefits in the event of a parent’s death The insurance plan includes lifetime health insurance Provision for income loss on parent’s death or disability Flexibility to withdraw funds based on policy terms In unit-linked plans, an addition
