The ULIP child insurance is the major type of child insurance and it means “Unit Linked Insurance Plan”. It is ideal in offering supreme risk cover with various investment options. Furthermore, one can go ahead and invest in stocks, bonds and the mutual funds.
Must To Have Children’s Insurance Plan:
Children’s Insurance Plan is one of the major components of any family life. If you are a caring parent, you will have some dreams for your loved ones. Most of the children’s plan is used in order to take care of your needs and the needs of the family members.
Furthermore, most of our plans are very flexible, as it is for your loved ones. So ahead and enjoy your kid growing up.
Advantages Of ULIP Children’s Insurance Plan:
Various children’s Insurance plan is available at present and some of the important components relating to the Children’s Insurance Plan are:
1. Maturity Benefits: During the regular plan, the amount will be paid to the parents of the child, and will get the benefits.
2. Benefits Relating To Taxes: Child insurance plan is the major plan, where in tax benefits is given to the parents, upon unforeseen circumstances.
3. Security: One can go ahead and give protection to the child in a proper way. Furthermore, child insurance can be ideal way to stabilize your future.
Liquidity Factor: One can go ahead and can liquidate plan in a systematic manner through partial withdrawals.
4. Exemption From Taxes: Policyholder will get the tax deduction for the premium, that is paid according to the Section 80C and any income of the plan will be free according to the section 10(10) D of the Income Tax Act.
5. Extra Provisions: You can go ahead and purchase extra facilities, like the Income Benefits, Death Benefits and the Critical illness Benefits.
Documents Required For ULIP Child Insurance Plans:
Some of the vital documents ideal for taking up the Child Insurance plans are given below as follows:
1. Address Proof: Various documents relating to the address proof like the phone bills, water bills, electricity bills, Aadhar cards, driving license, ration cards, ESI cards, and passports of parents can be used.
2. Income Proof: Documents relating to the income of the parents and company working is important for taking up child insurance.
3. Age Proof: Various documents relating to the age proof of parents must be provided like the birth certificate, passport, driving license and others. Documents recognized by the Government of India will be given recognitions.
So, owing a ULIP Child Insurance is having lot of positive points, and helps us to figure our plans in a systematic manner.
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