Best Investment Options to Cover Your Child's Education
Close
Close

Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term Plan

Protect Your family’s financial future with Kotak e-Term Plan. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more

Kotak Health Shield

Insurance against medical expenses related to heart, brain, liver and Cancer. Know more

Best Investment Options to Cover Your Child's Education

Best Investment Options to Cover Your Child's Education
  • 26th Apr 2022 |
  • 3,842

An education investment plan for your child’s education is a great way to build a strong foundation for their future. To their parents, a child is everything. And it is every parent’s goal to see their child’s dreams come true by providing them with the education they desire. In today’s competitive world, specialised education that complements your child’s interests might help them maximise their abilities and shine! It offers them an advantage over others and helps them achieve their life’s objectives. So it’s critical to consider what kind of specialised education your child will pursue.

There is no better gift than the assurance of a stable future for your child. Therefore, after becoming a parent, one should begin investing in complete health and education savings plan for the child’s future.

Investment Strategy for Child’s Education Savings Plan

First, make a list of specific objectives to build the right education savings plan, such as the child’s desired schooling and the associated costs. This will assist you in determining how much you need to save each month and the amount you can afford after all of your usual costs have been met. You should remember that funding studies can also be done with loans. In addition, an education savings plan does not have to entail sacrificing other elements of your life, such as healthcare or retirement. As you get closer to your financial goal, you should limit your stock exposure to reduce the chance of unfavourable market moves.

Investing in financial tools that give good returns is the cheat code to ensure your child’s future!

Different types of education Investment Plans for your child

  • Unit Linked Life Insurance Plan (ULIP)

You can profit from capital market upswings by investing in a unit-linked child plan. A portion of your premium is used to protect your child’s future in unforeseen circumstances. The remainder of your investment is placed in the stock market. Depending on your risk tolerance, you can choose a mix of stocks and debt funds or hybrid funds that balance the benefits of each asset type. In addition, ULIPs can help you build an inflation-adjusted portfolio.

  • Public Provident Fund (PPF)

It’s a 15-year plan that can begin even under a minor’s name. With your PPF account, you can invest up to ₹1.5 lakh per year in your child’s PPF account. It is tax-free and backed by the government. The PPF offers the best tax benefits, making it a popular investment for your child’s right education investment plans.

  • Savings Plan

A traditional endowment policy guarantees your capital with fixed, guaranteed returns. The policy invests your money on your behalf and shares the revenues with you through bonuses and incentives, ensuring sizeable returns to handle you little one’s education costs in the near future.

  • Sukanya Samriddhi Yojana (SSY)

Sukanya Samriddhi Yojana is a savings scheme for female children. Because it is a government initiative, it is quite dependable, and many people consider it the finest investment plan for girls in India. As a parent, you can open an SSY account in the bank in your daughter’s name and earn a good interest rate of around 7% to 8%, subject to change. When the girl reaches the age of 21, the account will mature.

You must be prepared to help your child achieve their educational goals without difficulty. A plan that will keep you financially comfortable while also meeting your child’s educational goals, no matter what life throws at you. After all, your child’s dreams are your dreams.

Kotak e-Invest

In this policy, the investment risk in the investment portfolio is borne by the policyholder.

Features

  • Return of Mortality Charges*$
  • Enhanced Protection
  • Multiple Plan Options
  • Zero Premium Allocation Charges
  • Tax Savings^

Ref. No. KLI/22-23/E-BB/521

T&C

Browse our library of resources

- A Consumer Education Initiative series by Kotak Life

Similar Articles

What are Deferred Savings Plans?

Top 10 Investment Strategies to Create Wealth

Early Investing and the Power of Compounding

ULIP Investment Strategy: Top Tips to Improve Your ULIP Gains

Are Money Back Policies Helpful? A Complete Guide

What's Better for Your Child's Education? Child Plans or Mutual Funds?

What is a Savings Plan and What are is Benefits?

Learn About Safe Investments with High Returns in India

What is the Importance of Saving Money?

Learn About Safe Investments with High Returns in India

Beginner's Guide to Wealth Creation: Meaning, Strategies, & Importance

Why is Portfolio Diversification Important? How to Diversify Your Portfolio?

उच्च रिटर्न प्राप्त करने के लिए सर्वश्रेष्ठ इन्वेस्टमेंट विकल्प

3 Tips to Buy Guaranteed Savings Plan

What is better - Guaranteed Savings Plan or Fixed Deposit?

What is Fund Switch in ULIP? And ULIP Fund Switching Techniques

Successful Financial Planning for Urban Women

How To Diversify Portfolio In 2022?

Why Should Parents Invest in Endowment Plan?

Do You Know the Difference Between Savings and Investment?

How To Track ULIP Performance?

How to Fulfil Your Financial Goals in the Next 10 Years?

Complete Savings Plan for Low Income Earners

ULIP vs FD - Which is Better and Why?

ULIP as an Investment for Your Child

How Does an Endowment Plan Work?

What are the Best Short-Term Investment Plans with High Returns?

How to Manage Your Portfolio Like a Professional?

Why ULIP is Better Investment for Long-Term Wealth Creation?

How to Make Your Financial Portfolio?

ULIP Benefits You Can Avail from Early Investing

Why Should You Consider Guaranteed Savings Plan for Long-Term Investment?

Important Questions You Must Ask Yourself When Buying a ULIP Plan

Which is Better – FD, Mutual Fund, SIP, or ULIP?

Endowment Plan vs Fixed Deposit?

Investments Options to Buy a house in India

Which is a Better Investment - Mutual Funds Or ULIP?

How Can a Legal Nominee Claim ULIP Benefits are the Policyholder’s Death?

Importance of Portfolio Management

How to Increase Net Worth Along with Family Protection

Is This The Right Time To Invest In ULIP? Why or Why Not?

What are the Best Investment Options for Students in India?

What are Some of the Safest Investment Options in India?

Which are the Best Investment Plans for Indian Senior Citizens in 2022?

Best One-Time Investment Plans in India

Difference Between Guaranteed Savings Plan and Guaranteed Income Plan

4 Benefits of ULIP Fund-Switching Feature

Planning Financial Goals and Objectives of Financial Planning

Factors Affecting Stock Markets

Top 5 Principles That Need to be Followed for Wealth Creation

Short Term and Long Term ULIP Plans for Wealth Creation

Difference Between Passive and Active Investing

Asset Allocations in ULIP - Know the Top Benefits

How to Start Saving Money in 10 Simple Ways?

How to Cancel ULIP Policy?

What are the Best Investment Options for Young Adults?

Who Should Invest in Savings Plan?

Difference Between Guaranteed Savings Plan and ULIP

4 Important Tips to Maximize Gains with ULIP Investments

Receiving regular payouts at various stages of life

How to Plan your Investment to Achieve Periodic Financial Goals?

Building wealth through regular investing

Benefits of ULIP as a Child Insurance Plan

Investment Options for NRIs in India

How to Manage Inheritance Money?

Debt ULIPs vs. Debt Mutual Funds: What's the Difference?

What are the Best Investment Options For Females?

How to Plan Your Child's Education - A Step by Step Guide

Planning for Your Child's Higher Education? Explore These Investment Options

Why Should You Invest in Term Insurance And ULIP?

Savings Plan for Grandchildren

Can ULIP Help in Achieving Short-Term Financial Goals?

Are Gains from ULIP Sale Taxable?

How to Plan Savings from Salary?

How Do One-Time Investment Plans Work?

Safe Investment Options with High Returns for FY 2018-19

What are Tax-Deferred Savings Plans?

Things to Know Before Buying an Endowment Plan

What are the Best Investment Options for Beginners or Amateur Investors in India?

ULIP Plan as a Gift

Best Investment Options in India in 2022

Customising investments to manage your wealth

How is Compoud Annual Growth Rate (CAGR) Calculated in ULIP?

What are Mutual Funds?

Top 5 Investment Options in 2022 for Healthy Returns

Different Types of Endowment Plans

How Much Wealth Can You Create from ULIP in 10 years?

Creating a second source of income with life insurance

Why Do You Need A ULIP Plan - All You Need To Know

Best Long-Term Savings Plans in India in 2022

What is ULIP Renewal?

Top 6 Investment Plans Available in India

Basics of Guaranteed Savings Plan