My son is nine years and my daughter is four years old. What life insurance policy would you suggest for the secure future of my kids?
Dilip Kumar, Kochi
Life insurance basically provides the financial security to the dependents in the event of death of the insured. Since children do not have any dependents, therefore, when you think of insuring your kids, the motive has to be essentially saving for their future. Almost all the life insurance companies in private and public sector have specially designed policies for children. Almost all of them are policies that provide for the insurance to the parents. The payouts under money back policies for children are designed to meet the requirements of expenditure for their higher education, settlement in the profession or marriage etc. Now that you know what these policies are meant to do, choose a policy that will meet your needs.
