“All our dreams can come true if we have the courage to pursue them.”- Walt Disney.

Who doesn’t want their child to be the next reputable scientist Einstein? Everyone does. 

Everyone could dream to make things possible to beautify their child’s life. But it is not possible that every individual has plenty of money. As soon as you become a parent, you begin to work on making every day better for your child. Why?

Simple because as a parent you want that your child carves his own world and feels confident to lead the life. For that, you have to support your child to choose the best career. If you are also willing to offer excellently to your child, start saving. But if you feel that the monthly expenses are hard to manage in the income you make, then you must immediately buy a child plan. 


Read further.

Why do you need to plan for your child’s future?

Planning for a child’s future is not always about pushing them towards success or achievement. At times, it is about how parents feel about what is good for their child and the way how they should move forward with it. Future planning for a child is important:

  1. Clarity gives you and your child a better approach: Financial planning is not an easy game when you are running a family, especially for salaried individuals. When you have a focused approach to making your child a doctor or a designer, you know exactly that you need the money more than you have at present. Leaving aside money, you and your child develop a focused approach toward a common goal in life.
  1. Analyze the financial deficit: When you plan for your child’s future, you are better aware of the finances you own. It enables you to evaluate how much more money you should have to attain the goal. For example, if you have only Rs.50 lakhs in today’s time and your child is in 12th class. For her wedding 7 years later, you will need approximately Rs.1crore. Now, this gap of Rs.50 lakhs is to be covered in 7 years’ time. With this planning, you now know the exact amount of money you need.
  1. Rectify the investments: You can plan for the correct investments that prepare you financially for the important milestones you feel are relevant for the child. For example, you already have money invested in SIPs that will fetch you a good Rs.20 lakhs for the child’s higher education. But at the same time, you are worried that if anything happens to you, the child will have to suffer for the wedding. After analysis, you can buy a term plan as well as a child insurance plan to fund the wedding when it is time.

When it is about your child securing their future financially is the only big aim that you can have. Use a child insurance calculator to be on the right track as success does not come easy to all. You have to give your best and plan neatly removing the chances of flaws. Planning for a child’s brighter future is not as complex as it appears. 

All you have to do is pick the right source of investment but only after analyzing your needs.

Child Future Planning Calculator

Not every parent may have the acumen or condition that they plan for their child’s future early. They may have limited finances which leaves them little scope for thinking beyond the boundaries. Such parents might think that their savings may not make much of a difference in their child’s future.

And this is where they might be wrong.

Use the child’s future planning calculator to find out exactly how much money you will need either for your child’s higher education or wedding. Let us understand with an example how a child plan calculator can be of great help.

Anant worked in an MNC and received a monthly salary of Rs.1 lakhs. He had a daughter of 5 years and Anant wanted to save money for her graduation. His daughter showed great interest in the field of arts and design since childhood. So he thought that she could pursue design when she grows. Anant gained his education in Singapore and thought that the country would offer great opportunities to her daughter as well. 

Anant browsed and used the child plan calculator. He knew that the estimated cost for my child’s education as of date is Rs.15 lakhs. Anant would need the money when her daughter turns 18.  The total savings with Anant was Rs.2 lakhs and to meet the goal of the cost of education Anant would require a cover of Rs.28.42 lakhs. Out of this, Anant already had Rs.2 lakhs. For the remaining Rs.26.42 lakhs, he should start saving Rs.8087 for 15 years per month. The factor of inflation is considered 4.27%.

Such a high coverage is required as when Anant’s daughter will turn 20, the cost of education will go up by Rs.13.42 lakhs. So for the same design degree, anyone would need a total of Rs 28.42 lakhs (Rs.15 lakhs+Rs.13.42 lakhs).

How can you achieve financial security for your child?

You can achieve financial security for your child by buying a child insurance plan. The insurance plan will help you in:

  1. Better higher education: A child plan helps you to save money wisely and in a disciplined manner helping them to gain higher education. With the insurance plan, you can save regularly. This is the way in which you can remove the hurdle of money from your child’s way.
  2. Continued benefits even after the death of the parents: A child plan continues to pay the child at important milestones even after the death of the parents. The future premiums are waived. Apart from the premium waiver, the death benefit is paid to the child after the parent’s demise.
  3. Rider Benefits: You can increase the scope of coverage by choosing the add-on covers like Critical Illness Rider, Waiver of Premium Rider, Accidental Death and Disability Rider, and others. The idea is to protect your child’s future financially at all odds.
  4. Save for the child’s marriage: Just like the way, you aim for your child’s dream wedding also. You can calculate the amount of money you will need for the future wedding at the dream destination and save accordingly.
  5. Lump-sum maturity benefit: The child plan pays a lump sum amount on maturity to support the goals in the life of your child. Protecting your child’s life is your ultimate goal.

When should I start with a child plan?

Early is the trick when you have to win over the financial goals in life. Right after you have conceived the child or are blessed with a newborn, you can start saving. Sooner the better.

When you start early you have more years to invest and save. You can build a huge corpus over the years and save the required amount.


You can plan for your child’s future by buying a life insurance policy. Though the market has different products, you can get the maximum benefit with the Child Future Assured Plan. The policy is available online and can be purchased in just a few steps. The insurance plan helps you to save for your child’s education and marriage. It gives you complete financial security with one insurance plan. For more information on the insurance policy, please visit here.