How to secure your child’s future expenses in your budget | PNB MetLife Insurance

How to secure your child’s future expenses in your budget

PNB MetLife 11-11-2016 03:53:01 PM
How to secure your child’s future expenses in your budget

As parents or parents-to-be, we often find ourselves contemplating over the security of our child’s future. Today, a number of child plans are available to ensure the future of your child is protected and she grows up availing basic necessities of life. Squeezing a child protection policy in our budget can be a task, but with the right insurance policy to suit your budget, one can easily chalk out a child plan in the long run. Read More

Here are ways to buy child insurance in your budget:

  1. Approach an insurance expert:
    This may be an underrated step, but it is quite crucial to approach an insurance expert initially to get a clear perspective of the type of child protection policy that fits your budget. A financial expert can play an important part in the decision making process and also help assess your budget to fit in a child insurance policy.

  2. Calculations:
    The insurance expert can calculate the amount of the cover that compliments your existing life cover and budgets. He will assess your sources of income, expenses, and debts, number of dependants / children and liabilities based on your lifestyle. Thus, advisors will help you arrive at a child protection policy that suits your budget and lifestyle the best. Trust your advisor with the insurance math and then invest in a child education plan or a normal life cover.

  3. Evaluate plans:
    Before buying out a particular plan to safeguard your child’s future, it is important to evaluate and compare the insurance plans provided by different insurance companies. While your insurance advisor might advise the best, it is you who has to pick up the best policy for your child within your budget.