Which insurance plan is best for a 3 year old girl child to take care of her higher education and marriage?



I wish to make a proper investment or insurance in the name of my grand daughter who is 3 year now. I am ready to pay a single premium or lump sum amount for investment. I wish that the money should accrue to her only after she attains the age 18 or 21 for her higher education and marriage. Which is the best way to do it?

5 Replies to “Which insurance plan is best for a 3 year old girl child to take care of her higher education and marriage?”


  1. In the US there is a person called Suze Orman.
    She is a financial guru of sorts.
    She clearly states:
    Never, ever take out an insurance product to save for your kids future.
    A scam financial advisor will try to sell you a profitable whole life insurance product if you let them take advantage of you.

    Better options:
    1. Take out term life insurance on yourself. Not the child
    That way if you die, that child can still have a secure future.
    2. Open a savings account for the kids college or her future.
    3. Pay down your debt as much as possible so you won’t pass on debt if you die

    Again, the worst thing you can do is take out an insurance policy for your childs future


  2. None of your choices. You open a Brokerage account in your name with her as beneficiary. This gives you total control of the money at at the appropriate time you give her what she needs.
    Too many things can happen before she reaches the age of maturity, to put anything in her name.
    Read Suze Orman’s advice on her web site. Your grand daughter may decide at 17 to run away and since that is her money she gets it eventually and you or her parents have no control



  3. In the US there is a person called Suze Orman.
    She is a financial guru of sorts.
    She clearly states:
    Never, ever take out an insurance product to save for your kids future.
    A scam financial advisor will try to sell you a profitable whole life insurance product if you let them take advantage of you.

    Better options:
    1. Take out term life insurance on yourself. Not the child
    That way if you die, that child can still have a secure future.
    2. Open a savings account for the kids college or her future.
    3. Pay down your debt as much as possible so you won’t pass on debt if you die

    Again, the worst thing you can do is take out an insurance policy for your childs future


  4. don’t go with any private Company … all r ok but 20 years a long time so go with lic .. go to the office directly inst ed of agent as discuss



  5. None of your choices. You open a Brokerage account in your name with her as beneficiary. This gives you total control of the money at at the appropriate time you give her what she needs.
    Too many things can happen before she reaches the age of maturity, to put anything in her name.
    Read Suze Orman’s advice on her web site. Your grand daughter may decide at 17 to run away and since that is her money she gets it eventually and you or her parents have no control





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