Planning for your child’s education and future expenses is one of the most important financial goals for any parent. By starting early and choosing the right investment options, you can ensure that your child has access to quality education and a secure financial foundation. Below are four of the best investment plans to help parents build a robust financial future for their children:

A Child ULIP combines investment and insurance, providing a disciplined approach to saving for your child’s future.

Key Benefits:

• Dual Benefit: Offers both insurance coverage and investment returns through equity or debt markets.
• Payout Flexibility: Provides payouts when the child turns 18, helping fund higher education.
• Life Coverage: Ensures financial protection by paying the sum assured to the child in case of the parent’s demise.

These plans offer a combination of insurance coverage and guaranteed returns, making them a safer investment option for long-term goals.

Key Benefits:

• Guaranteed Returns: Includes bonuses over the assured sum, ensuring steady financial growth.
• Periodic Payouts: Provides regular payouts, often starting when the child turns 18, to fund education or other milestones.
• Long-Term Investment: Ideal for durations of 10 years or more, making it suitable for future educational expenses.

This government-backed scheme is designed specifically for the financial security of a girl child.

Key Benefits:

• High Interest Rates: Currently offers an attractive interest rate of 8.50% (subject to periodic revisions).
• Tax Benefits: Investments up to ₹1.5 lakh are eligible for tax deductions under Section 80C of the Income Tax Act.
• Low Initial Deposit: Open an account with as little as ₹250.
• Eligibility: Accounts can be opened for a girl child under 10 years of age.

Mutual funds via SIPs are an excellent choice for long-term wealth creation, offering flexibility and market-linked returns.

Key Benefits:

• High Growth Potential: Investments in mid-cap or small-cap funds can yield substantial returns over the long term.
• Flexible Contributions: Start with an amount as low as ₹500 per month.
• Goal-Oriented Savings: Customize your portfolio based on your child’s future educational needs and timelines.

When selecting the ideal plan, consider the following factors:

Investment decisions should be made based on individual financial goals and risk appetite. It’s advisable to consult a financial advisor for personalized guidance. Times Bull is not liable for any losses arising from investments made based on this information.

By selecting the right investment plan early, you can give your child the gift of financial stability and access to opportunities for a brighter future.