Life Insurance Industry is in full bloom. With wide marketing from Private Players, LIC and Government insistence, people from all class are realizing the importance of taking Life Insurance Cover. Short term, long term, pension and child insurance plans are on boom. People are investing in these plans initiated either by self awareness or by the glam of insurance advertisements.
After the flight of pension plans (sale of pension plans have boomed up dramatically in the past years), the next big thing, most insurance companies targeting on is Child Insurance Plan. Even Life Insurance Corporation of India, which majorily targeted on Money Back and Term Plans, is now moving towards child plans.
Child Insurance Plans began from the Child age 0, so it's easy for most of the parents to plan the future of their ?to-be-born? child. Child Plans ? cut only for children are meant to cover the education, higher education and marriage needs. Sum assured or guaranteed returns are the main features of child plan. The main attraction, insurance companies like ICICI Prudential and HDFC insurance companies tap on is the Maturity Benefit Plan wherein the family need not pay further in case of insured parent death during the policy term and the policy continues with sum assured and the bonuses declared.
Tapping on other benefits, which in fact are beneficial, insurance companies are putting up their best. have some of the basic attractions like cheques when the child reaches a certain grade/class or age and beneficiary concept where beneficiary (in this case the child) is the sole person to receive the benefit. To add to the icing is the Tax benefit. Parent/s who is taking the child policy is eligible for Tax Benefit under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
- Under Section 80C: You can save tax each year as premiums up to Rs. 1, 00,000 are allowed as a deduction from your taxable income.
- Under Section 10 (10D), the benefits you receive from this policy are completely tax-free subject to the exclusions.
Securing ones child future is one of the biggest relief for any parent. With so many insurance companies coming in the child insurance, life insurance field, this should not be a dream too far?
Best Child Insurance Plan
When selecting the right crib for your baby, it can be somewhat of a trickish venture. A range of baby cribs are available in the market and serves the varying need of parents. A crib has been said to reduce the rate of sudden infant death syndrome because it reduces the risk of occurrence by separating mother from the newborn baby. You can seek the advice of veteran mothers on the best crib you can buy if you haven't made the choice yet.
A bassinet that has an opening on one side that can be joined to the side of your bed can be a solution for a mother who wants to sleep with her child but who is unable to control herself in sleep. You can purchase a play pen and put it into your room to enable you and your child stay in the same place.
Changing your baby's diapers involves getting the right changing table. Changing tables for babies are mainly of three types; guardrails wooden changing tables, fold up models and hinged chest adapters. The wooden table with the guardrails is often the best changing table for babies.
If your baby cries without apparent reason, go and see a doctor. Taking your baby outside when he or she cries can help ease the cries as she or he can be riveted by the diverse scenery outside. Simply touching a crying baby or carrying child can halt its tears.
If you are unmarried and are afraid of the pains of labor, don't be. You see, the pain of labor is often forgotten by women once they have their child in their arms. For many women, labor is the beginning of a long road filled with fun, mistakes and lessons. Parenting is all about ensuring that the baby depending on you has all its needs met. So, don't be afraid of the experience. It's a truly awesome experience that should make you very happy and grateful.
You can use your baby's appetite to gauge if he or she is in perfect health or not. A child who suddenly stops eating or starts eating less is probably falling ill and should be taken to a hospital immediately. If your baby is a generally hyperactive child, you can easily tell when he or she is ill or not.
A good day care center should be one that is informative and open to parents. Make sure that any child care center you sign up with are not judgmental and meddlesome in nature. You will want a childcare center that has the ability to take proper care of your child.
Child care centers shouldn't be chosen based on price but on the quality of service available. There have been incidents of child abuse even in child care centers. So you need to choose one with extreme care. Let your instincts guide you in your selection of a child care center as this will ensure that you don't make the wrong choice.
Both Heena Vasnani & Clarakenpnb are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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