5 Things to do to Safeguard the Future of Your Child

Every parent wishes to ensure the very best for their children. If you too wish to ensure a good better standard of living for your child, you will need a little financial planning. Investments, such as child insurance plans, could be a good idea. Here are some basic things you should do to secure your child’s future.

1.      Ensure the Best Education

The first step is to decide the school in which you want to enroll your child. Their schooling can open up a plethora of opportunities for them. Unlike the West, in India, it is the private schools, rather than those run by the government, that offer higher standards of education, with a focus on the child’s higher education needs. In this cutthroat world of competition, it is one’s qualifications that can ensure a lucrative and fulfilling career.

2.      Open a Savings Account

Many parents are put aside a specific portion from their monthly income towards their child's future financial needs. While it is a good idea to open a savings account for your little one and put in small amounts at regular intervals, also consider investing in long term fixed deposits, where you can earn higher interest.

3.      Invest in Gold

In India, gold holds a special emotional value and investing in gold jewellery for one’s child’s wedding is what every parent looks forward to. However, given that gold investments can bear good fruit, also consider investing in gold ETFs, which can give you returns without you having to risk owning tand storing physical gold. But make sure that your investment doesn't exceed 10%-15% of your overall investments.

4.      Buy Them an Insurance Policy

Do a little research online about child insurance plans or make a direct inquiry from a reputed company. Choose the right insurance policy, taking into account inflation and your child’s specific needs, while also keeping in mind the premium you can afford. Make sure the child plan offers you waiver of premium, in case you're unable to pay premium because of a disability due to an unfortunate event like an accident or the early demise of the parent. The policy should continue and the child should receive a fixed sum of money after a certain age.

5.      Insure Yourself for a Large Sum

The aim is to fulfill the everyday needs as well as cover your child's future expenses like education and marriage. Certain insurance policies provide money to you or your child when they are in the age group of 18-26 years, in your presence or absence. Life insurance can provide financial support in case of any unforeseen events and keep your family financially secure.

4 Simple Ways to Achieve Inner Peace

The Associated Chambers of Commerce & Industry of India (ASSOCHAM) suggests that out of 100 working class professionals, more than 40 are victims of depression and anxiety disorders. And the root cause for depression is nothing but mental stress, which in turn restrains you from attaining peace.

Peace is a term that is often misunderstood by people. Most people think that peace is an endpoint, or a destination, whereas peace is a constant journey of positivity and inspiration.

Stress is the only barrier that stands between you and that journey. It’s a silent killer that gradually erodes us mentally, physically, emotionally, and spiritually. But most people are not aware that eliminating stress doesn’t require too much effort. For instance, did you know that by using a simple thing such as an insurance premium calculator, you can ensure adequate financial backup for your loved ones after you depart this world?

So, we present you 4 simple ways in which you can get rid of the excess baggage you’ve been carrying all this while.

4 Tips to Start Your Journey of Peace

1. Accept the Things You Cannot Change

The past is history, the future is a mystery, and therefore try living in the present as because getting stuck in the past or future could damage your inner self and cause extreme levels of despondency and despair.

2. Don’t Let Others Control Your Mind

Be in charge of your own happiness. If you let other people’s comments affect you, you’re not doing justice to yourself. It’s like that quote from renowned spiritual author, Pema Chödrön, “Inner Peace begins the moment you choose not to allow another person or event to control your emotions.”

3. Peace, Even after You’re Gone

We all dream of leaving this world without the burden of guilt for not having made clever and responsible investments for our loved ones that would sustain them and give them a life of dignity even long after we are gone. So, right now is the best time to use an insurance premium calculator to choose a plan that fits your requirements aptly. Opting for the appropriate life insurance ensures reasonable financial coverage for your family, in case any unforeseen circumstances occur.

4. Be in the Driver’s Seat of Your Success Vehicle

Don’t let others determine the future course of your success. Realize your true potential, spend time cultivating it, and simply put it into action.

Do keep these tips in mind if you want to live a peaceful life. And don’t forget that your loved ones will always be protected with the simple use of a life insurance premium calculator. Protect you family, and free yourself from stress and anxiety.