I think all these plans benefit the insurance companies only. Not all the insurance companies give importance for TERM INSURANCE in their marketing which is the best method for coverage of insurance with a miniumum amount of premium and maximum coverage. It is good to have a term insurance for a big amount for life coverage then we can invest the balance amounts in other money yielding instruments for future which is the best method of financial planning. If one does some study on this and invest, lot of us will agree with this concept. Mohiddin
i think child insurance is resulted when we pay off nothing for the insurance regarding children as they are very important capital of the country, their future could be bright and sun shine if they have the full protection for the growth at self, so irda should have multiple handy creations for them without pay specially for those who are disabled, orphans.
ULIPs are waste and a cheat product. They deduct so much you are lucky if you get at the end what you paid. Child policy is another useless thing. Insure only the bread winner of the family for all eventualities (death or incapacitation) so that even if the breadwinner is indisposed, the child will have sufficient funds to continue his/her studies or marriage etc. So go for a life insurance of the breadwinner of the family only. Anticipate the expenses (say 10-20 years time) you may have to meet and take a policy to cover that expenses. That is my view on insurance.
