Financial Planning for Child

There should be financial planning for education of the child so that at all important stages of child's education, there is money coming in.

The below illustration is for a person aged 30 years and for his child (premium works to around Rs.40,000 yearly)

Below is a plan from LIC wherein both the father or mother and child are duly covered and there is money coming in at important stages of education of the child.

When the child becomes
18 years-------receive 1 Lac and
19 years--------receive Rs.2 Lacs.
20 years---------receive Rs.1 Lac
21 years --------receive Rs.2.10 Lacs
22 years---------receive Rs.1 Lac
23 years ---------receive Rs.2.30 Lacs
24 years ---------receive Rs.2.45 Lacs
25 years ----------receive Rs. 8 Lacs.

In case something happens to the parent (father or mother taken the policy) education expenses of the child will be taken care of:
From date of death -----Rs.40,000 per year till maturity of the policy
18th year - amount received will be Rs.1.40 Lacs
19 th year--amount received will be Rs.2.30 Lacs
20th year - amount received will be Rs.1.30 Lacs
21st year - amount received will be Rs. 2.25 Lacs
22nd year -amount received will be Rs.1.20 Lacs
23rd year - amount received will be Rs.2.50 Lacs
24th year - amount received will be Rs.2.45 Lacs
25th year - amount received will be Rs.8 Lacs

Child Education Expenses

You tell your child to score well. But are you prepared financially for his/her education

Inflation factor has to be considered.

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You Don't Buy a Life Insurance Policy, You Buy an Education for the Kids
A Lifetime Income for Your Spouse
A Pension for an Old Person
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Give Your Child the Best Education

(Plan Closed on 31 December 2013)

Every Child has his or her dreams.

So would that not be surprising if your child could make his dreams fulfilled by attending his or her dream college and get highly professionalized education.

It is the wish of every parent to give his or her child the best education. But financial constraints could hamper the dreams.

The cost of living as well as education is rising very fast and it is much higher than the income rise.

But to counteract all these, there is a solution.

Provided if you start saving from today onwards and invest your money in the right plan and thereby affording higher fees for courses like Engineering, Medicine, Management etc

LIC is offering Children Plans and many other plans that are worth taking.

Give Your Child the Best Education.