Best Saving Plan for Child – Top Policies to Consider This Year

Canara HSBC OBC Smart Junior Plan The Canara HSBC OBC smart junior plan is a non-linked protection and savings plan that provides you peace of mind by helping you fulfill your child’s educational requirements through consistent savings, even in the event of your unfortunate demise.  With this plan, your children can gain guaranteed payouts during the last five years of  tenure of your policy. The plan also features annual bonuses that help you supercharge your investments and grow your accumulated corpus of financial resources.  Aditya Birla Sun Life Vision Star Plan Being a traditional money-back policy, the Aditya Birla Sun Life Vision Star Child Savings Plan offers several periodic payouts to your children throughout the policy tenure. It has a minimum age requirement of only eighteen years that allows you to invest in this plan as early as possible.  The plan features a maximum tenure of 75 years and offers two major payout options namely periodic benefits and survival benefits. Once you’ve completed the lock-in period of this policy, you can enjoy the high liquidity of these plans by having the facility to claim the payout every two years.  Aegon Life Rising Star Insurance Plan If you want to help your child achieve all their dreams and aspirations in life, the Aegon Life Rising Star Insurance Plan is a perfect investment option for you. This plan offers financial provisions for a specific time that helps you plan for your child’s bright future.  With this child savings plan, you can also invest in various funds like Debt, Accelerator, Secure, and Stable funds. Moreover, you can also choose from multiple premium payment terms such as monthly, yearly, quarterly, or half-yearly based on your investment preferences.  Bottom Line The growing rate of inflation has already made parenting tougher than ever. From education costs to lifestyle expenses, everything requires a significant amount of money. If you want to make your child’s future filled with opportunities and prosperities, you must plan for these expenses ahead.  With proper investments in the best savings plan for a child, you can accumulate sufficient money to help your child at every step of their life. They’ll be able to get a quality education and live a financially secure lifestyle.