Sadly, due to space constraint, the Full Article was NOT published.
Hence I am reproducing the same here for the benefit of my readers.
“Have you planned for your Child’s Higher Education”?
“Have you planned for your Child’s Marriage”?
Of course, the umpteenth Child Plans splashed across. Whether you like it or not, you will be bombarded with the "specialties" of these plans and the Companies leave no stone unturned to make you feel that they are next only to God when it comes to protect your dear child's future.
There are basically 3 types of Child Insurance Plans namely
This is by far the most POPULAR plans. Under this plan, your child will get Survival Benefits at regular intervals.
- The Returns are pathetic, with less than double digits, and come nowhere even near Inflation, forget about the Education Inflation which is in High Double Digits.
- The Insurance Cover too is almost always very little. (If you require higher cover, you will obviously pay a steeper premium).
The Alternative, my friend, is the COMBINATION OF TERM PLAN AND MUTUAL FUNDS:
Endowment and Money Back are a strict NO-NO. Investing in an Insurance Plan which gives less than 10% when the Inflation is growing at 10% is definitely not a wise thing to do.
Also visit http:/http://goodinsuranceadvisor.blogspot.in/