Why A Term Plan Is The Best Thing You Can Gift Your Child

I love the smell and sound the festive season brings with it. The buzz in the air that accompanies all the preparations for the festival gets everyone excited, especially my kids.

This is also the time I get to spend quality moments with my kids, and I make sure I tell them the stories behind each festival. I love how my kids love to hear stories behind the festivals with similar excitement as I used to. Not to mention, the festivals are synonymous to gifts for all kids, and as usual, they have a huge list of gifts.

From Legos to dollhouses to cycles, their list is ready even before the festivals start. I make it a point to tick some items off their list of demands and leave out some items intentionally even though I can afford them. I believe, kids need to know that parents will always give them what is essential for them but never in excess. So I make sure that I never compromise on the security and well being of my kids. I am there for their emotional and financial needs.

Kids have their own ambitions and dreams, and I want to enable them no matter what. While kids always ask for gifts that they would want today, I believe, we as parents have to think further. We need to see what secures their tomorrow. Hence we should also gift them things which will secure them tomorrow.

One such gift that we bought for our kids is a Term plan. Now, you must be thinking why a term plan? As our family expands, our liabilities increase too; like, separate funds for our children’s education, a bigger house, family vacations, etc. These all are dreams that family dreams together. Hence securing them is my utmost priority.

With a little bit of research, we came up with the decision to choose a term plan from ICICI Prudential Life – ICICI Pru iProtect Smart. What mattered for me was the minimum amount that we had to invest in premiums every month and the 34 critical illness cover that the plan provided. In case of any unfortunate event, my liabilities are covered under the plan, so that the dreams of my little ones don't come to a halt. Plus, the tax-saving option was an additional benefit that we got.

Each festive season we pray for the health and prosperity of our family and a term plan from ICICI Prudential Life is a step towards that direction. By investing a small amount every month, I would want the satisfaction of knowing my loved ones are being taken care of. What about you? Have you made plans for your family's future?

This post is in association with ICIC Prudential Life Insurance