Education Planning
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TURN YOUR CHILD'S AMBITIONS INTO FINANCIALLY ACHIEVABLE GOALS
Don’t we all want to give our children everything they need? There’s not a parent in the world who wouldn’t do anything for their child’s well being. As Indians, we put in a lot of value in our child’s education. After all, good education provides children with a world of new opportunities. But, further education can be very expensive, and that’s why early planning becomes mandatory
WHY PLAN FOR YOUR CHILD'S EDUCATION?
- Managing inflation rates
- Securing the future
- Identifying expenses early on
- Enjoying a stress free life
Identifying education expenses early on will ensure that your child can achieve their ambitions without putting a dent into your finances. We help you identify the estimate costs for your child’s education and suggest funds and methods that will support your child financially as they reach their goals
WE ARE EXPERIENCED WITH CHILD EDUCATION PLANS
Over the years, we have seen many different scenarios around child education needs and the finances parents want to keep aside for their children. This has helped us gather the much needed experience around education planning
WE PROVIDE CATERED SOLUTIONS
Work towards an education plan that best suits your child’s needs. We understand the nature of your finances and the finances required for your child’s education and help you make decisions that will help you achieve your goals
Frequently asked questions
Keeping a 12% inflation rate into consideration, further studies will cost around 15 lacs and upwards. This means that you would have to invest somewhere around ₹4,500 and upwards every month for your child’s education
As the word suggests, an education plan is made only to cover the child’s education needs whereas a child benefit plan is made for your child’s long term goals. It is paid to the child incase of an unfortunate event
Managing daily expenses and keeping money aside for your child can be a challenge. Experts suggest 3-5% of your monthly income aside for your child’s education. This way you can manage your monthly expenses and prepare for their education at the same time
The longer you wait the more you would have to pay. That’s why, when it comes to your child’s education, the sooner you start the better. In fact, financial experts suggest saving from the time the child is born
While you can start saving now, you cannot predict what your child will want to study in 18 years. Therefore, a good child education plan is one that is flexible. It should provide you with a proper map for the future so you get an idea of how much you are getting when your child is ready for further studies
There are two types of child education plans –
Child ULIP Plan – This refers to a lumpsum deposit made for a child that will be paid to the child once the policy reaches maturity. While the primary goal of this plan is to provide the child with education finances, the child can use the finances for any purpose
Child Endowment Plan – These child education plans provide life insurance cover with guaranteed returns. They are provide in the form of 4 payouts. However, since the risks are less in these payouts the returns are also relatively less
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