There is no doubt about the fact that the blockbuster success of ISRO’s Chandrayaan-3 mission and the subsequent launch of its Adtiya-L1 mission, have put a spotlight on India’s massive reach in the field of space science. Chandrayaan-3 made history on August 23 when Vikram Lander executed a flawless ‘soft landing’ on the Moon’s south pole, making India the sole nation to accomplish this remarkable feat. On the other hand, India’s first solar mission, Aditya L1, also made global headlines when it was successfully test-fired from Sriharikota on September 2. These iconic space missions are definitely going to have a long-lasting impact in shaping the future of science in the country as more and more children are now curious about the universe and want to take up astronomy as a career.

Choosing Astronomy as a career path

Along with the students, even the parents are now considering Space Science as a career option for their kids. And are thus exploring and searching for academic courses that would offer their kids the chance to opt for the Science field. However, at the same time, they also have to calculate their education expenses that will be required for the same.

Astronomy is a multidisciplinary field that requires knowledge of physics, mathematics, computer science, and engineering. Pursuing a career in astronomy can lead to a strong educational foundation that is transferable to other scientific and technical fields. With Indian space organizations like ISRO actively involved in space exploration, budding Indian astronomers have a plethora of opportunities to study and contribute to space missions, planetary science, and astrophysical research.

How can parents help their kids build a future in Space Science?

Encouraging a strong educational foundation from a young age is very important. Parents should ensure their kids have a good grasp of subjects that are fundamental to astronomy and space science. Fostering a sense of wonder and curiosity about the universe can also spark the child’s interest in space exploration.

But how can parents help their children once they realise their astronomical dream? Along with guiding the child towards the right direction, as a parent, it is equally important to plan your expenses for their future studies. If you are one of those parents who is looking for a way to get started with your finances, look no further. Here, we will break down a genius HDFC Life plan that will help you build your kid’s future.  

HDFC Life Smart Protect Plan

HDFC Life’s Smart Protect plan provides a protection cover and caters to your need for long-term wealth creation. This plan comes in handy if you are planning to invest in the education of your child who is keen to explore the field of astronomy and wants to take it up as a career choice.

There are four kinds of loyalty additions to this plan that can boost your fund value. These include Return of 2X to 3X Mortality Charge, Return of 2X Premium Allocation Charge, Return of Fund Management Charge, and Return of 2X of Investment Guarantee Charge. You would be relieved to know that you can get a Minimum Assured  Benefit in the form of a capital guarantee in spite of market fluctuations! There is complete flexibility in choosing the premium payment option, which means you can go for the regular or the limited one.

If you decide to choose the ‘Level Cover’ plan option of the HDFC Life Smart Protect Plan, then you should know that it will provide cover throughout your policy term. One of the maturity benefits of this cover is that, if you need more money to invest in your child’s future, you can take your fund value at maturity in periodical installments under the settlement option. Now if you choose the ‘Level Cover with Capital Guarantee’ plan, then along with providing a cover throughout the policy term, the policyholder will also get a Capital Guarantee in the form of minimum Assured Benefit on maturity. And under this cover too, you can take your fund value at maturity in periodical installments under the settlement option.

So in the future, if your child wants to pursue higher education or attend space-related programs, you would have to provide financial support along with exploring scholarship opportunities with them. Thankfully, HDFC Life’s Smart Protect Plan is not rocket science and you can easily opt for it to be better prepared.