Child Plans
Child Plans
What is a Child Education Plans?
A Child Education plan resembles a protection plan that safeguards the fate of a kid fiscally to permit him/her to seek after the ideal schooling objectives. This plan additionally gets the reserve funds of guardians alongside monitoring the existence of the kid. Guardians can involve this reserve funds in parts or altogether according to the need of the Child.
Most training insurance plans are accessible with life coverage assurance and permit the safeguarded to upgrade reserve funds through ordinary installment. Additionally, the single amount capital that is gotten at development of the arrangement permits the kid to seek after advanced education with the best office without agonizing over finance.
Features And Benefits Of A Child Education Policy
Key Features And Benefits Of A Child Education Policy
When it comes to features and benefits of a best policy for a child, there are various merits that you can gain. Some of them are mentioned below:
PARTIAL WITHDRAWAL : With child insurance, the guaranteed has the choice of pulling out the cash during the strategy term assuming there is an earnest need of the kid like clinical need or instructive need and so on. In such a case, the policyholder can pull out a halfway measure of cash for the reason.
CAPITAL FOR A CHILD'S FUTURE : With a child plan, a protected can have an adequate number of reserve funds to use with the end goal of the kid's advanced education.
PREMIUM WAIVER : According to this element, assuming the parent of the child bites the dust, the guarantor waiver premium that is pertinent in the arrangement. Nonetheless, this element could differ according to the insurance agency.
TAX BENEFITS : Since child plans go under the class of assessment exception of the greatest section , the policyholder can have tax reductions under such plans.
Claim Process & Documents Required for Child Insurance Plans
What Documents Are Required For The Child Insurance Claim Process?
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You need a claim form that is duly filled.
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You need a medical certificate/ death certificate
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Any diagnostic reports etc.
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You may also require a copy of FIR if the death is unnatural
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KYC details of the insured and the nominee
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You need a copy of the Policy papers.
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You may also need a post-mortem report if the death is unnatural
Documents required for Buying Child Insurance Plans
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Age Proof in the form of Birth Certificate, Passport etc.
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Duly filled Proposal Form.
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Identity Proof in the form of Aadhaar card, Passport, PAN Card, Voter ID etc.
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Duly filled Proposal Form.
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Address Proof like Electricity bill, Passport, Driving License etc.
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Income Proof in the form of income of the policy buyer.
