As a parent, you would like to secure the future of your child in every possible way. One of the most significant ways to do that is by investing in a financial plan that will ensure the financial protection of your child in the long run. However, it can be challenging to choose the right plan that guarantees returns while being independent of market volatility. That’s where a guaranteed return plan comes in handy.
A guaranteed return plan offers a guaranteed benefit to meet your goals without worrying about the market’s volatility. It is an insurance-cum-investment plan that provides financial protection to your child, offers guaranteed returns, and provides you with the flexibility to pay the premiums at your convenience.
One such investment plan for a child that stands out in the market is the Canara HSBC Life Insurance iSelect Guaranteed Future plan. This plan is designed to offer you complete financial protection for your child and help you meet your child’s future expenses. Let’s take a closer look at the features of this plan and the impact it can have on your child’s future.
Financial protection of your child
The plan provides financial protection to your child. It offers a lump-sum amount to the child in case of the unfortunate death of the parent. The child also receives a regular payout in the form of an annuity to meet their financial needs.
Guaranteed benefits to meet your goals
The Canara HSBC Life Insurance iSelect Guaranteed Future plan offers a guaranteed benefit to meet your child’s future goals. The maturity benefit is a guaranteed amount that the parent receives, which is calculated based on the premium paid, policy term, and the sum assured. The plan offers the flexibility to choose the premium payment term and the policy term at the parent’s convenience.
Let us take an example. Rahul opted for a monthly premium of Rs.10,000 with a premium payment term of 10 years and a policy term of 20 years. He will receive Rs.33,19,055 as maturity benefits at the end of the 20th year in the form of a lump sum benefit
Payor premium protection cover to cover the child’s expenses even during your absence
The plan offers a payer premium protection cover that covers the premium payments in case of the parent’s unfortunate death. The payor premium protection cover ensures that the policy remains active, and the child receives the guaranteed benefits even in the parent’s absence.
In conclusion, investing in the iSelect Guaranteed Future plan is an assured way to secure your child’s future. It offers a guaranteed benefit to meet your child’s future goals, financial protection for your child, and flexibility to pay the premiums at your convenience. It is a comprehensive plan that provides complete financial protection to your child and ensures that their future is secure. To know more about the plan, visit the website and explore the product online.