In our country, education is undoubtedly a stepping stone to social mobility and a brighter future. Here, for parents, planning the best education for their infant is paramount amidst the rising cost of education.
This is where the Child Education Insurance Plan (CEIP) steps into the game! It offers a very structured and secure way for parents to save their child’s educational needs.
Today, in this article, let’s dive deep into the key reasons why Indian parents opt for this plan.
What is a Child Education Insurance Plan? Why do people opt for it?
As the term suggests, it is basically a financial tool in our country to secure your child’s education. In this format, you tend to pay premiums regularly, and the plan guarantees a lump sum payout at maturity to certain cover expenses like college fees.
Moreover, if you pass away, the policy often continues paying, ensuring adequate funds for your child’s education. CEIPs offer tax benefits and come in various forms to fit your needs.
-
Planned Savings
This policy encourages a habit of consistent saving. By paying premiums consistently over a set time period, you tend to create a steady flow of funds for your child’s bright education.
-
Assured Maturity Benefit & Peace of Mind
Similar to endowment plans, CEIPs offer a guaranteed maturity benefit upon policy completion. This acts as a corpus specifically designated to cover education-related expenses. Knowing that you are backed up by the best child education insurance plan in India offers immense peace of mind!
-
Protection Against Unforeseen Events
Life is unpredictable. A major pro here is the built-in life cover for the parent so therefore, in the unfortunate event of the partent’s passing, the policy often continues to receive payouts as mentioned above. This financial protection acts as a safety net for the child’s educational aspirations.
-
Tax Benefits
CEIPs offer attractive tax benefits. This falls under the Section 80C of the Income Tax Act, 1961. The premium paid towards the plan is partially deductible from taxable income, offering tax relief to parents.
What are the details of Child Education Insurance Plans?
If you are planning to avail this facility, Stashfin instant personal loan is here for you. You can avail ths facility by paying a premium of Rs 599/- only and get coverage upto Rs 2,00,000. The tenure here is 12 months.
Inclusions
- In case of death or partial total disability of the end user, the policy provides coverage.
- Child education expenses for the user will be covered up to 2 lacs under this policy.
Exclusions
- The policy excludes coverage for individuals whose occupation involves hazardous activities.
- Examples of such activities include working with explosives, underground mining, or dealing with electrical installations with high tension supply.
- Individuals engaged in these occupations are not eligible for the coverages provided by this policy.
How to avail this facility from us?
With just four simple steps, you are good to go to avail the best insurance for child education from us
- Visit our official website
- On the home page, click/tap on the Insurance section
- Choose Child Education Protection
- Click/Tap on Buy Now
Final thoughts
CEIPs offer a powerful combination of benefits for parents in our country and are a must-avail deal. They promote disciplined saving, guarantee a lump sum for education, and protect your child’s future in case of unforeseen events.
By carefully considering your needs and comparing plans, you can find a CEIP that empowers you to invest in your child’s brightest future.
So, what are you waiting for? Explore Stashfin today for child education insurance!