How to make your financial future Secure?

How to make your financial future Secure?

FOR YOUR CHILDREN      
Scholar Plan (State Bank of India)
This is a money-back policy. The sum assured is either paid in four equal annual installments in the last four years of the policy, or as a lump sum on the child turning 18. In a crisis, the full sum assured and a bonus can be paid. Apart from parents and grandparents, legal guardians can procure this policy for their wards. Maximum age of child: ] 5 years * Minimum age of proposer: 20 years Maximum age of proposer: 60 years Minimum sum assured: Rs 50,000 Maximum sum assured: Rs 10 lakh New Children’s Deferred Assurance Plan (Life Insurance Corporation) A policy you can get for your child at birth. Advantage: low premiums - if securing a policy at birth for 50 years, premium per Rs 1,000 sum assured is Rs 8.70 a year. In case the child passes away before the policy matures, premiums paid ate refunded; if the proposer dies during the deferment period, the premiums will have to be continued. Minimum sum assured: Rs 10,000 Maximum sum assured: Rs 200,000 Minimum premium: Rs 800 a year Maximum age at entry: 11 years Maximum age at maturity: 55 years.