Best gift for your child : How to ensure your kid's financial security
- Child insurance policies, where you get fixed payouts after predetermined time period fail to impress most financial planners
- These plans sound so complicated
Child-specific insurance plans, child-oriented mutual funds, life insurance plan, mutual funds, fixed deposits and so on.. the list to invest for your child's goals is endless. But, not all child-oriented investment products are efficient in doing their job well, i.e., to provide financial security. To start with, child insurance policies, one of the most popular and highly marketed child-oriented investment options, where you get fixed payouts after predetermined time period to provide for your child' goals, fail to impress most financial planners. You go through their brochure and these plans sound so complicated. After one or two reads, a parent would still be unable to get as to how much payout will s/he actually get and when.
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