Your child is your most precious possession. Your bond with him was forged the moment he was born. There is nothing and nobody dearer to you in the whole world, and you have long forgotten what your life was like before he came into your life.
Your kid loves you a lot too, and you are his biggest support and strength. You are his first hero and first love, and the provider of all the joys in his life. He knows that you are always there to back him up, and that he only has to ask you for something to have his wish fulfilled. His confidence stems from the fact that his lightest wish is your command, and that you would do anything to fulfil his every whim.
But there is a flip side to this confidence that he has in you – you are under increasing pressure to pay for a wide variety of expenses. These range from paying his tuition fees, hobby classes, extra tuition, picnics, projects, exam fees and a wide range of other expenses. The costs of education rise as he gets older and his needs increase. Soon enough, he tells you he wishes to study engineering or medicine, or even become an architect or study painting in Paris.
Education costs are very high in India, and it can become difficult to pay for them as the days pass. But you dread reaching a point when your child tells you that he wishes to pursue a further branch of study – and you don't have the funds for it! What do you do – tell him that you cannot pay for his education, or do you take steps before such a situation occurs? If you choose the latter, you would do well to buy a child future plan.
The need for child insurance plans
Child plans in India offer the safety net needed by parents and children to jointly pursue their ambitions. They offer financial support to make your child's dreams come true – so whether he wishes to become a surgeon or study aeronautical engineering, the child plan pays for his education without making you dip into your savings.
Most parents' expenses revolve around their children. This means that they cannot plan for their own future or retirement until their children's education is complete. But taking the best child insurance plan ensures that while the children's academic needs are met, parents can plan to achieve their own personal milestones alongside.
The best child insurance plan
The best child future plan in India comes to you courtesy Aditya Birla Sun Life Insurance (ABSLI) Vision Star Plan, which provides such excellent benefits as regular bonuses (at the end of each financial year), terminal bonuses (paid on maturity or surrender) and death benefit (which is paid to the nominee and no further premiums are to be paid at this point). This plan will go a long way in ensuring that your child's future ambitions are met, whether you are present in his life or not.