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    Money Management Tips | PNB MetLife

    CHILD EDUCATION

    Money Management Mantras for Dads-to-be

    Last Updated On 28-08-2018

    Becoming a father is one of the happiest moments in a man’s life.  Nothing in the world can replace it. Your priorities shift from when you become a father.  But once the baby arrives, there comes a host of expenses from clothing to diapers to medical care and many more.

    As a Father, you will play an important role in providing for the financial well-being of your children. Bringing a child into this world opens the door to happiness along with a spike in expenses. Surprisingly, very few of us undertake child investment plans to deal with this radical phase of our life.

    For Dads-to-be, there are some crucial responsibilities for the new entrant coming into your world. For your child’s better future, a child insurance plan is a must.  This requires management and efficient handling of your financial affairs.

    Let us see some of the money management mantras for a soon-to-be father.

    1. Decide whether you can handle all the expenses with one salary
      It has been seen that in most of the cases where dual income couple has a baby, one spouse opts to stay at home to care for the baby. As a result, the other partner, usually the father takes up the responsibility to financially care for the family.  So, before you have a baby, plan your budget, look out for some child investment plans, and figure out whether you can live on a single salary. 
    2. Do you really have enough to cover all the expenses?
      Check whether you have sufficient emergency funds to deal with more unplanned health-related bills. If not, then you need to up your saving account before planning for a child. You should have a sufficient amount in your hand which can cover all the expenses including the pre-delivery as well as the post-delivery expenses.
    3. Study about the Childcare cost
      Childcare is expensive. Reading up on it could make you aware of various expenses you are getting into. This will help you to plan for them in advance and can adjust your career path towards a more flexible schedule. A better plan could end up saving you a lot of money.
    4. Set up child investment plans
      You don’t need to have enough money to invest in these plans. Once you have a baby, these plans become a no-brainer for you. Invest a small amount of money every month in these plans right after you plan to have a baby. Figure out the best insurance plans and line them up before it gets too late. 
    5. Start funding for your child's education
      We all know that education has become very expensive nowadays. The prices are sky-rocketing continuously. Every parent wishes to shape a bright future for their child. You also might have taken several steps to do so. Further, for those who are planning to have a baby, it is advisable to set up an emergency saving fund for your child’s career course, to ease the burden later.

    Always remember, financial affairs are one of the important steps you should consider before having a baby. Think upon it twice. Hope this article helps you release your stress of the required finances for your would-be child.

    To know more about Term Insurance,  browse the website for various Term Plans offered by PNB MetLife.

    Disclaimer:

    The aforesaid article presents the view or an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ before making any decision.

    PNB MetLife India Insurance Company Limited, Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka.
    IRDAI Registration Number 117. CI No: U66010KA2001PLC028883. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale.
    The marks “PNB” and “MetLife” are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
    Call us Toll-free at 1-800-425-6969 Phone: 080-66006969, Website: www.pnbmetlife.com, Email: indiaservice@pnbmetlife.co.in or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203

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    • IRDAI is not involved in activities like selling policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

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    Disclaimer: 
    The aforesaid article presents the view or an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ before making any decision.

    PNB MetLife India Insurance Company Limited, Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka.
    IRDAI Registration Number 117. CI No: U66010KA2001PLC028883. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale.
    The marks “PNB” and “MetLife” are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
    Call us Toll-free at 1-800-425-6969. Phone: 080-66006969, Website: www.pnbmetlife.com, Email: indiaservice@pnbmetlife.co.in or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203
    EC232 LD/2019-20/243

    BEWARE OF SPURIOUS/FRAUD PHONE CALLS!
    • IRDAI is not involved in activities like selling policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

    Disclaimer

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    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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