Are parents prepared for fulfilling children’s dreams? Financial literacy a problem says Aviva survey

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New Delhi | Published: November 27, 2014 5:05:47 PM

While parents support their children’s dreams, are they really prepared for it?

Aviva Life Insurance launches the ‘Child Financial Planners League’.Aviva Life Insurance launches the ‘Child Financial Planners League’.

Aviva Life Insurance launches the ‘Child Financial Planners League’ (CFPL), a team of advisors for Aviva’s child and child-linked insurance products. The launch comes after a national survey conducted to gauge the gap between parents’ aspirations and preparation for their child’s education.

The survey targeted at answering a big question, ‘While parents support their children’s dreams, are they really prepared for it?’ revealed lack of financial knowledge amongst most parents.

According to the survey, many parents are worryingly unprepared to take care of the rising cost of education. In fact, most have not even thought about how to secure their child’s education, if they are not around to support them in the future due to an unforeseen circumstance.

Aviva’s Child Plans have been specially designed to meet these needs, and are imperative for parents to ensure they are financially prepared for all future milestones in their child’s educational journey. The select set of advisors in Aviva’s CFPL have been trained specifically to take care of parents planning to secure their child’s big plans.

Speaking at the launch, Rishi Piparaiya, Director, Marketing and Direct Sales, Aviva Life Insurance, said, “Children have big dreams and Aviva, as an organization, has always been committed to helping them realize their dreams, whether through our products or other opportunities. Our research revealed that young Indians have great ambitions and parents are not always financially prepared for them. CFPL is one such initiative in this direction, of sensitizing parents about the importance of being financially prepared for their child’s future.”

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