Your Questions Answered: What are the benefits of child investment plans?
Child investment plans are beneficial for securing your children's future and providing financial security. Guaranteed plans offer high returns without market volatility, while Unit Linked Insurance Plans involve regular premium payments and market-linked investments.
Q. I'm Gaurav, a 35-year-old sales professional residing in Kolkata. I'm a father to two kids, a 5-year-old son, and a 2-year-old daughter. Recently, a colleague introduced me to the concept of child investment plans. I'm looking for expert advice on whether it's beneficial to invest in these plans, especially considering that I have already invested a significant amount in bank deposits, such as fixed deposits (FDs) and post office recurring deposits (RDs).
With inflation hitting an all-time high, it has become pertinent for all parents to start planning for their children’s future well from an early age. Education inflation, particularly, is what young parents should be mindful of and start investing keeping in view the coming 15-20 crucial years.