When can I opt for a child insurance?

Hey, my kid has just moved on to 1st standard. Should I opt for a child insurance policy now? Or later? When’s the right time to get an insurance for children? Some tips would be very helpful.

5 Replies to “When can I opt for a child insurance?”

  1. Is this for life insurance?
    Never get life insurance for a child.
    Open a savings account instead and put the money in there for their future.

  2. If your aim is to save money for your child to secure your child future best is go with SIP in mutual fund for 10-15 yrs.
    The best sip options are HDFC Equity fund, HDFC Top 200 Fund.

  3. You can’t cover the life of a child (some policies will cover after 8 years)

    But there is a policy from ICICI Prudential Life by name Smart Kid.
    This policy covers the father’s life.
    i.e, if the father die, child’s education will be taken care by the insurance.
    If no risk arised, maturity benefit is also there.
    So, whether father lives or dies, child’s education is guaranteed.

    Guess this should be suitable one.

  4. When ever you wants , its have taken. But in case of children insurance risk cover on his/her life are start after completion of 7 th yrs of age. Always have taken PWB as a rider with children plan.

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