Best Investment Policy: If you are planning to invest somewhere to secure your child’s future, then we are going to give you the best idea for it. If you invest here then your child can become a millionaire at the age of 10 years only.
New Delhi. India Post Policy: Nowadays many people invest in the scheme of Indian Post, because the risk is less here. We are going to tell you about a scheme where you can invest for the future of your child. In this scheme, your child can become a millionaire at the age of 10 by paying a premium of only Rs 18. Postal Life Insurance Child life insurance is a type of life insurance policy, which is run by India Post.
What is this scheme?
The schemes of India Post are specially made to benefit the middle and lower class people. Child Life Insurance Scheme, under Postal Life Insurance, is designed to help Indian parents build a corpus to secure the future of their children. This scheme is operated by India Post, so the risk is also less in it. All the money deposited in this policy is safely returned at the end. However, due to such low risk, the returns from the scheme are also low. In this, only 58 rupees are available on the investment of 1000 rupees in the policy.
These things are covered
This policy is better for the future of your child. It covers many things. This policy covers the death of the parent. After the sudden death of the parent, the child will receive the Sum Assured along with bonus on completion of the policy. Apart from this, all future premiums are waived off after the death of the parents.
How does this policy work?
Parents buy this policy in their own name. In this, the child is chosen as the nominee. This is because the premium has to be paid directly to the parent, while the child is the only beneficiary.
Who can buy the policy?
The parents buying a child life insurance policy should have a maximum of 2 children. The child who is being selected as the nominee should be between 5 to 20 years of age. At the same time, the age of the parents investing in the policy is 18 to 45 years. The maximum sum insured of this policy is Rs 3 lakh. If you take the policy for five years, you will have to pay a premium of Rs 18.88. On the other hand, if you take the policy for 20 years, then you will have to deposit a premium of Rs 5.92.
Must have these documents
- Application form
- ID proof of child and guardian (Aadhar Card, Ration Card, etc.)
- Age Proof (Birth Certificate, Matriculation Certificate, Aadhar Card, etc.)
- Address Proof (Ration Card, Voter ID Card, etc.)
- Passport size photo
- Any other document requested by the insurance company