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Child Insurance Plans
Seeing your kid(s) grow into a smart and bright young individual(s) is one of the most satisfying experiences for any parent.There is nothing more joyous than to see your children taking the flight of success after you have taken countless measures to ensure that they get the best of everything. All this requires financial support.
Grow into a smart and bright young individual(s) is one of the most satisfying experiences for any parent. There is nothing more joyous than to see your children taking the flight of success after you have taken countless measures to ensure that they get the best of everything. All this requires financial support.
Then becomes a crucial part of parenting. Child plan is an apt financial tool that provides a combination of protection and wealth creation to ensure a secure future for your child.
And marriage are two primary milestones of a child’s life. Depending on how early you start planning for your child’s future, the key milestones would include school admission
A child plan, by channeling your savings builds a steady corpus that can be used to finance your child’s life goals. The life cover attached to it ensures that the financial needs of your child are also taken care of, even if something happens to you.
Soar the heights of success with a little support from Insurya Consulting Child Plans.
Benefits | Description |
---|---|
Support for Child’s Future Plans | All of us want the best education possible for our kids, whether in India or abroad. However, the cost of both school and higher education is increasing with every passing day. Child plans help you in meeting the education expenses of your children. Besides education, we also plan for their marriage and to support them beyond marriage, if required. You may want to go for a child plan that ensures cash flow to meet all such needs. |
Financial Security | Child plans provide financial security during the growing years of your child. Covering the earning parent’s life is a crucial part of savings for children as it ensures there is sufficient fund and cash flow for the education and other future expenses even if something untoward happens to the parent. |
Systematic Savings | Regular and disciplined investment over a period of time helps you accumulate large amounts which is crucial to meet long-term goals. Typically, child plans leverage this and come with a timeframe which are aligned to the Life Goals of your child for better returns. |
Tax Benefit | Child plans provide tax benefits under Section 80C and Section 10(D) of Income Tax Act, 1961 subject to the provision stated therein. The premium paid is eligible for tax benefit under Section 80C, and Maturity or Death benefit and surrender value give you tax benefit under Section 10(10D) of the Income Tax Act, 1961. |
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Preferably, you should purchase a child plan immediately after the birth of your child. The sooner you buy a child plan, the higher the investment period, so you get more time to benefit from power of compounding.
The primary earning parent should purchase the child plan. This means that the parent whose untimely death is likely to cause more financial distress and derail the child’s future plans should buy a child plan.
The policy term or premium paying terms depends on the age of the child and in the time frame in which he/she would require the funds to realize his/her dreams.
The premium paid towards the child plan is eligible for income tax deductions of up to ₹ 1.5 lakh under Section 80C of the Income Tax Act, 1961. The maturity or death benefits are also exempted from income tax under Section 10D of the Income Tax Act, 1961.
Medical insurance provides financial protection against unexpected medical expenses, ensuring access to quality healthcare without depleting your savings.
You can add your spouse, children, parents, and other dependents as per the policy terms, ensuring comprehensive family coverage.
Online comparison helps you find the best plan that suits your needs and budget, offering a clear understanding of coverage and benefits.
Delaying premiums can result in policy lapse, losing coverage benefits and financial protection, and may lead to difficulties in renewing the policy.
Request a physical copy from the insurer or take a printout of the digital policy document received via email.
Claims should be made within the stipulated time as per the policy terms to avoid rejection and ensure timely processing.
Pre-existing conditions are medical conditions you had before buying your Individual Health Insurance plan. Coverage for these might require waiting periods or exclusions. Be transparent about your health history.
Insurers cover hospital bills through reimbursement (you pay upfront and get reimbursed later) or cashless hospitalisation (insurer settles bills directly with network hospitals).
Individual Health Insurance premiums often qualify for tax deductions under Section 80D of the Income Tax Act (India).
Personal medical insurance offers financial protection against unexpected medical expenses due to illness, accidents, or hospitalisation. It provides peace of mind and safeguards your savings.
Don’t stress the small things in life! The easiest and quickest way to renew your life insurance policy is by doing it online. Topping up your health cover gives you freedom from worrying about heavy medical expenses.
We know that reading through the ponderous terms and conditions section of a health insurance policy isn’t always easy. So, here is the quick answer. Your renewal premium is calculated based on your age and coverage. As always, you can put the power of compounding to good use by investing in health insurance as early as possible.
Yes, of course. Life can get really busy and even things as important as renewing your health insurance plan can get side-lined. With Insurya Consulting, we turn back the clock to give a grace period where you can renew your expired policy. For 30 days from the expiry date, you can still renew your health cover with ease. Now, you can run the race at yo
Absolutely! All you have to do to renew your health insurance is click or tap a few times! You can definitely renew health insurance policies online and also buy new policy for your family & friends click here to know more.
Yes, as per IRDAI regulations, insurance portability between providers is allowed. This also includes transfer of benefits like Cumulative Bonus and credits relating to waiting period for pre-existing diseases.