Every parent wants the best for their child. Giving your child the best education and career is a great responsibility of a parent. To provide your child with the best education, you must start investing from today. Your little investment can give wide coverage to the future expenses and education of your child. But choosing the right investment plan for your child can be a little bit tricky. It is one of the important decisions of your life. Aviva Young Scholar Secure an excellent child insurance plan with a lot of benefits. By investing in this plan, you can fulfill all the dreams of your child. In this article, I am going to discuss Aviva Young Scholar Secure in detail.
Benefits of this plan:
1. This plan provides you a money-back guarantee
2. This plan offers you benefits on Tax on all the paid premiums
3. If parent dies, there is no requirement of paying future premiums
4. It gives you coverage for a lifetime by providing guaranteed payouts at prime stages of the education of a child.
5. According to the prevailing laws of tax, this plan offers you the exemption on tax under 80 C and 10 (10) D
Working of Aviva Young Scholar Secure
Let us understand this plan with a simple example.
Suppose the age of a son is 1 year. For 12 years, his parent pays Rs 33 thousand as premium per year. So he has to pay it for 12 years i.e. 12 X Rs 33 thousand = Rs 3 lakh 96 thousand in total. When the age of his son becomes 13 years, he will get Rs 15 thousand till his son turns 17 years. That means he will get 5 years X Rs 15 thousand = Rs 75 thousand. Again when the age of his son turns 18, he will get Rs 40 thousand, and when the age of his son becomes 21he will receive Rs 5 lakh 94 thousand and 5 hundred. So the total amount that he will get is (Rs 75 thousand + Rs 40 thousand + Rs 5 lakh 94 thousand 5 hundred) = Rs 7 lakh 9 thousand 5 hundred
Conclusion: Aviva Young Scholar Secure is one of the best education plans for a child. If you want to secure your child’s career, then you can go for it. This plan will help you in every stage of your child’s career.