A robust yet flexible combination of investments and protection can help you get started on the journey to wealth creation for your little one.
The anticipation of parenthood is a beautiful journey that has one going through a heartwarming maze of emotions. From buying the softest clothes to the getting the most velvety crib, as a new parent, the process of ensuring a comfortable life for the little one starts right off the bat.
As a father-to-be, you find yourself wanting to be responsible for your child, not just physically and emotionally but also financially.
With medical bills, insurance claims, emergency funds and savings becoming some of your first encounters, financial obligations are a primary concern. One must not let it bog the joyous spirit of fatherhood down. On Father’s Day today, prepare for a happy start by letting life insurance navigate your finances better.
Secure your child’s future easily
As a father, you always want to be your child’s ultimate protector and a source of strength for him/her to fall back on during tough times. It is therefore important to build a strong foundation that can help nurture your child’s needs as he/she grows up. A robust life insurance policy will not only help you build a financially secure future for your child but also help address their various life stage needs effectively.
Seamlessly save up for rainy day
Raising a child is an expensive affair and as a new dad, there is never a better time to anticipate unexpected expenses and emergencies. If you don’t already have a “rainy day fund,” a life insurance policy can help fill the gap. In addition to being a tool of financial protection, a life insurance policy also provides for an investment instrument offering returns over the course of time. A robust yet flexible combination of investments and protection can help you get started on the journey to wealth creation for your little one.
Ensure a corpus for your child’s education
As a financially savvy dad, the best gift that you can give your child is a bright future. Chart out the future you aspire for your child. Highlight the key milestones in his/her life and start earmarking amounts that your child will need in that period. With the cost of education escalating with each passing day, it is wise to invest in a savings plans that will help in securing financial future of your loved ones and offer funds to meet a host of expenses at key educational milestones in your child’s life. Consider investing in a child plan that offers an insurance cover in addition to an investment option for creating a corpus for your child’ education.
(By Aalok Bhan, Director & Chief Marketing Officer, Max Life Insurance )