Jul 06, 2010 05:38 PM
29610 Views
The cost of education is rising and what costs you 5 lakhs today will cost you 50 lakhs tomorrow, but that doesn’t mean that you should be worried and in the panic forget to save for your child’s education. It is very much essential that before investing parents should realize how important it is to save for the future of the child.
I also was earlier very much skeptical about investing in child insurance plans but as it turns out its really a great way to save for your child without disturbing your monthly budget. I invested in Aviva New Young Scholar plan and its quite good in terms of giving attractive returns.
All future premiums are waived off and invested as a lump sum amount into the fund, so the policy continues even in the unfortunate event of the parent's death while the Sum Assured is paid out immediately.
I think parents now should invest in a child plan quickly because at the rate with which education is increasing it wont be long when degrees will cost in crores and we would be struggling for finance.
