BEST CHILD PLAN

HOW TO DO INVESTMENT PLAN FOR CHILDREN

Last week I got couple of messages to write an article about the best investment plans for children.

We all know that every parent has to plan for their children’s future. But I felt majority of the parents would see the security side of the children’s future, ignoring how well they can plan beyond security.

Why an investment plan is necessary for a childChildren Investment plan is necessary for child education plans or daughter marriage. However saving the money may not be sufficient.

I hope every one agrees that ensuring that money grows faster along with security is important thing to consider before we look for investment options for children.

How parents are planning the investment plan for children now.As per recent survey conducted by a news channel revealed that currently every parent is preferring to take an insurance policy for their child’s future. There are number of insurance policies which are offering good child insurance plans.

How to do Investment plan for children•Children Insurance plans: This should be a first step in investment plan for children. There are good insurance plans offered.

•private insurance companies which are also offering good insurance plans like Bajaj Allianz best child plan etc. Consider the insurance plan only for security side and do not think insurance is like an investment plan.

•Investment in Debt mutual funds: Beyond insurance, I would prefer every parent to invest in mutual funds so that the money grows faster and there would be little downside comparing to direct investing in stocks.

•Invest in ULIP: There are several unit linked insurance plans which are insurance plan cum mutual fund where insurance company would allot mutual fund units and such investments would be made in direct stock market to some extent.

However in earlier days of ULIP’s, there were huge expenses charged to ULIP’s holders.

Check for ULIP’s which charge low expenses before you choose this as investment option.

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