Is Money in your Child's Name a Good Option?


Bangalore: You have welcomed your new bundle of joy in this world and you intend to give them the best of everything. In order to help you achieve this objective, you start investing in various instruments on your child's behalf. For this purpose you may look up at the insurance companies have introduced various children's plans. There several plans available today that have enticed many parents to invest on behalf of their children, under the impression that their child's future is secure. Plus the rising inflation rate also calls for starting savings early in a child's life. Are You Risking Your Child's Future?
Is Money in your Child's Name a Good Option?
You may be amongst the huge tribe of parents who have chosen to put their faith in insurance plan to provide secure future to your child. But one question you need to answer before even opting on any plan is, " Are you putting your child's future in danger by doing so?" By investing in kid's name you are making him more vulnerable to physical threat. This arrives when the money comes into his name. When a huge amount is invested in your child's name, he would be with certain threats.