Article

Child Plan
June 07 , 2012

Do you care about your children? Silly question – of course you do! Worried about their future and higher education? Of course! Well, the market has devised a clever way to exploit this concern parents have for their childs future. It offers a high cost and opaque Unit-Linked Insurance Plan called the Child Plan, that promises to combine life insurance with investing money for the childs future. 

The objectives are noble enough. But in practice, these plans suffer from the same problems of ULIPs in general - high charges, too much commission to the agent from the customers first premium (often higher than 50%) and no transparency in portfolio and performance. The takeaway is that if you really care for your childs future, avoid Child Plans! There are plenty of other ways by which you can secure her future.

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