There are two basic types of Education insurance plans: endowment and investment-linked policies. Endowment policies resemble a savings account with insurance benefits whereas investment-linked ones let you invest, while retaining coverage at the same time.
Above and beyond the assured income, you’ll also receive potential bonus payments added to your child’s education fund – even while you’re still paying the premium. This means that when your plan matures, you’ll receive more than the amount you were initially insured for.
Saving begins the moment your child is born. Start saving before your baby begins to crawl and by the time they’re ready for college, all they’ll need to do is keep running towards a great future.
Have a safety net for your nest egg should you, the policy owner, unfortunately pass away or become permanently disabled during the insurance tenure. The remaining premium payments will be waived while the policy remains in force.