WITH THE INCREASING cost of higher education in India, it is very important for parents to plan their child's education. Innovative financial instruments like child insurance-cum-investment plans not only shield the guardian in case of untimely death but also help them plan their child education expenses keeping in mind the rate of inflation.
These financial instruments utilise a part of the premium paid by the customer in providing risk cover while majority of the premium is invested in various debt and equity instruments. Most of these plans have a lock-in period till the child turns 18 years.
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This story is from the November 23, 2022 edition of Financial Express Mumbai.
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This story is from the November 23, 2022 edition of Financial Express Mumbai.
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