Birla sun life Child Insurance Children are a very important and integral part of a persons life and if you have a child yourself, you will understand what I mean. A parent is always interested in saving for his childs future. However, starting the work is a big deal. More often than not, a parent just keeps thinking and planning rather than opting for a plan. So, when it strikes for the first time in your mind that you need to start some amount of investment for your child is when you need to opt for a plan and start and then plan. A child plan is a life insurance policy that has been especially designed for the benefit of the child. The plan may be in the name of the child or maybe in the parents name but as long as the same has been especially designed for the benefit of the child, it is good enough. The plan needs to be flexible and usable so that when you need to pay for your childs higher education in the future, this particular plan that you had opted for can come into use. Birla sun life Child Insurance So for example, if you have a 5 year old child and you are planning for the child to go abroad for her post graduation when she is 21 years of age, then you need to opt for a plan for a period of 21- 5, i.e. 16 years or less. Birla sun life Child Insurance It would be 15 years also depending upon when the plan is taken and when you need the money. But more often than not, you should not opt for a 20 year plan maybe because you have a finite goal of higher education in 16 years which may be 15 or even 17 years depending on which school she gets through, which country, the rank, admission procedure, season of entry, etc. so these are considerations much later in life, when the child is actually old enough to decide what she wants to study but as a parent you need to start way ahead and thus when you plan for her when she is only 5 years old, you need to financially plan for yourself so that your child gets the lumpsum amount when she is 21 years old and does not need to wait for a few more years for a better return, etc. Birla sun life Child Insurance the childs future will not wait and thus as parent, you need to plan accordingly. Planning for a child and his future expenses is a step that each and every parent needs to plan and think way before he actually feels the need to spend. So timing the investment as well as the tenure for investment is one of the primary needs of a parent and opting for a child plan! Birla Sun Life Insurance Company Limited (BSLI)- Is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., one of the leading international financial services company from Canada. Birla Sun Life Insurance has contributed to the growth and development of the life insurance industry and is currently one of the leadinglife insurancecompanies in the country. Their customer base comprises of over two million policy holders. The Company offers a complete range of plans comprising protection solutions, children’s future solutions, wealth with protection solutions, health and wellness solutions, retirement solutions and savings with protection solutions. Its distribution network is in over 500 cities, 560 branches, around 85,000 empaneled advisors and over 140 partnerships with corporate agents, brokers and banks.Its been a decade that the company has contributed significantly to the growth and development of the life insurance industry of our country. They have also pioneered in the launch of Unit Linked Life Insurance plans. Their vision is to be a leader and role model in integrated financial services. They value Integrity, commitment, passion, seamlessness and speed.
