Planning for children’s marriage starts when the children are young. You must save and invest as early as possible to give the money the time to grow into a large corpus.
Child’s Marriage Plan
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What Is A Child's Marriage Plan
Planning for children’s marriage starts when the children are young. You must save and invest as early as possible to give the money the time to grow into a large corpus. You must choose an investment that offers return above inflation over the long term.You must plan the investment depending on the time horizon and risk tolerance.
What does Child's Marriage Plan cover?
- Tax benefits under section 80C of the IT Act
- Death Cover
- The benefit of premium waiving
- Flexibility
- Maturity benefits
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How to plan for child’s marriage
Weddings are one of the grandest family affairs in India. Especially when it’s about your daughter, you wouldn’t want to leave anything unfulfilled. Parents start dreaming about their daughter’s grand weddings, start saving gold for her, but the question remains how do you plan for a grand wedding of your daughter early enough?
The answer is simple and based on your present experience and future ambition. Your first objective is to assign a number to the money you are ready to spend on your daughter’s wedding.
Depending on your current savings and estimated marriage expenditure you need to pick a savings and investment plan.
Some Investment options to consider:
- ULIP
- Mutual Funds
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Why Child's Marriage Plan is important?
- Planning helps you to handle the sudden expenses associated with the child’s marriage.
- Timely investments help counter the impact of rising inflation rates.
- You will not have to disturb your retirement fund or even the money set aside for children’s education.
- Building a steady corpus by setting aside a small amount each month relieves financial stress.
To pick the right investment plan, contact us.
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