Planning for your child’s education is never too early. In fact, if we go by the growing cost of acquiring education in India, you may as well think that you’re late.
The cost of getting an education in any of the decent schools today is at least ₹25,000 a month and it will only increase year by year. A good 4-year engineering course that costs about ₹8-10 lakhs today will easily cross ₹17-18 lakhs by 2025. By 2040, it is expected to cost ₹50 lakhs.
Similarly, a reputed institute today for an MBA course charges around ₹15 lakhs. By 2025, the same will amount to ₹45-50 lakhs and by 2040, it is expected to cost ₹75-80 lakhs.
How much prepared are you to deal with the rising education cost? Worse than that, if something happens to you, have you made a provision for your child’s education?
One must realize that delay in child education planning may be detrimental for your child’s future. Therefore, preferably begin child education planning in the early years of marriage.
However, it is also never too late.
With a Child Plan, you can rest assured that the education cost of your child is taken care of. With a small investment of ₹8,000-9,000 a month in a Child Plan, you can avail a maximum of ₹21-22 lakhs to meet the rising education cost at different intervals of your child’s education.
Conclusion – Plans in the market cater to different needs of the policy seekers. An expert must be consulted before signing up for any plan. At OneInsure, they provide insurance-related guidance and services across various products. Get in touch with them on 86559 86559 or at email@example.com to fix a meeting with one of their financial experts.