Protect Your Child

Salient Features Traditional endowments or unit-linked Available for parents with a minor children Benefits on maturity Benefits paid on death with waiver of unpaid premiums If child dies, death benefit is paid Terms and conditions vary with every insurer; read them carefully *** Aman Tripathi (name changed) lost his father, the sole breadwinner, at an age when he was just about to pursue higher studies. But help was at hand, in the form of a child policy his father had bought 15 years ago from Life Insurance Corporation of India (LIC). It not only paid for his education but also took care of daily expenses. Tripathi is now the managing director of a big private company, and he is still thankful to LIC for financing his education, which eventually made him climb the professional ladder. There is an important lesson for parents in Tripathi’s story. With admission season for MBA...