Financial planning for family

Advantages Of Child Education Plan

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Rakesh, a 31 years old man had a huge family to look after, staying in a joint family in a small town was not an easy task because Rakesh had huge responsibilities and liabilities.

Being an introvert by nature and not being able to generate enough monetary benefit to fulfill every desire of his humongous family, Rakesh always had this concern that whether he will be able to give proper education to his child and make him a successful professional or not.

This concern has always been literally troubling him a lot for many days but no one could understand the concern and suggest a proper outcome.

Rakesh’s son was studying in standard 2nd and he was quite brilliant in his academics as well as other miscellaneous and extra-curricular activities in the school. He received acknowledgement and recognition from many events and other organizations too.

It is often said that the future is unpredictable and just when you think that things are going great, there are chances that a single incident may turn things upside down. Rakesh had a small accident and his left leg got fractured and he was admitted to the city hospital nearby. This incident created a huge financial crisis for the family and it was evident that his son’s education will now be compromised in order to meet the daily requirements of the family.

Rakesh’s concern was hidden from everyone but one man could read and understand his untold words and he was his Doctor. After the day’s schedule was off, his doctor came to meet him and they had an amicable discussion for quite long and Rakesh shared all his concerns with his doctor and friend. His doctor was also a father of a girl who was also of the similar age as of Rakesh’s son and hence, he could easily relate to the situation and therefore, he guided Rakesh on how can he secure his son’s future by assuring financial security.

His doctor suggested that as the cost of everything is going high, it becomes very important to invest in the savings plan that may offer enough monetary benefits at the time of maturity to meet the educational needs and hence, a child education plan can be the best alternative for this situation as it can not only benefit and serve to all the requirements of Rakesh’s child in the future but it can also immediately relieve Rakesh of all his concerns and he can then better focus on his health and work.

Being a parent is a matter of great joy and pleasure but one should also realize that it also brings along a lot of responsibilities which can never be overlooked and the truth is that successful parenting is a major challenge. Meeting the present requirements of your family can be a challenge if proper financial planning is not done. It becomes the prime responsibility of every parent to secure the future of their children and take care of all their future requirements.

The Doctor explained to Rakesh about the numerous benefits that a child education plan can offer to him:

  1. Guaranteed benefits This will help him avoid the fluctuation of the market
  2. Maturity benefits that may be used to meet the college expenses:
  3. Complete security

Child education plans also ensure that even if the earning parent dies, the monetary benefit is passed to the family that serves well to meet the future educational needs of the children.

Planning for the child’s future should be the top priority of every parent and there should be absolutely no compromise on that part.

After having a long discussion with his Doctor, Rakesh finally felt happy as he now received the answers to all the questions that were troubling him since past many days and now he is having a great solution to his financial impediments and concerns related to his child’s future education.

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