Vikash Raghuwanshi
When a child is born, his parents are the guardians who provide him shelter, food, clothes and education.
Most of the Guardians plan for the higher education of the child when the child turns 18 when the 12th is passed.
for child’s higher education
The parent has three options.
1... Deposit money little by little in the bank or in the cupboard of the house when the child is 18 years old ie spend that money for his higher education.
2. If he or she will be of 18 years of age, then take a loan from the bank, which has an interest of about 12 percent, which has to be deposited in 7 years.
3. Or take the child education plan policy of SBI, in which the child gets the amount of 21 or 25 for studies.
In the first option above, the amount you will be able to deposit continuously till the age of 18 will be your money. If you are able to deposit only one year and the incident happens, then the family will get back the same amount as you deposited.
The second option is an education loan, which will have to pay expensive interest. This is possible only if the spinach is present.
In the third option SBI Child Plan, you also deposit a premium and in the unfortunate event of the death of the parent or complete disability due to accident, then as a benefit.
1.Insurance money is received instantly
2. Further premium is waived
3. The amount earmarked for the higher education of the child is provided till the age of 21
4. Tax exemption is available.
*DOB*..means (date of birth)
Everybody knows this.
*DOD*. Means (Date of Death)
no one knows it
It doesn’t sound good to say but life is uncertain. No one knows what will happen when. In both the options, the dreams of the parents will be fulfilled only when the parent is there, but in the third option, their dreams will be fulfilled even if the parent is not there and the dream of every parent is the higher education of the child, so that the child’s life is well settled. .
The question is, who should be considered a good planning and smart guardian?
To the first option?
To the second option?
Or the third option?
The rate of inflation is currently averaging 6.5%. The tuition fee of which is currently 1 lakh per annum is likely to be 4 lakh after 15 years.
In the coming time, if you have done planning keeping inflation in mind, then your planning is perfect, but if you have not done it, then you will have to plan immediately.
And the third option is such in which the dreams of the parents will be fulfilled even in the absence of the parent and the future of the child will be bright.
one more important thing
Make a list in which write three names which will help your family financially in case of accidental incident (God forbid it to happen).
We don’t mean to hurt your sentiments at all. I apologize if I got it wrong.
but it is worth considering