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Future Generali India Life Insurance Company Limited is now Generali Central Life Insurance Company Limited. Generali Central Life Insurance Company Limited – A joint venture between Generali – one of the world’s leading insurers and Central Bank of India, India’s finest nationalised bank.

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Investing for Kids' Future? Let the Kids Take the Lead

read-time3 mins
views8.6K
Posted on: Aug 07, 2023

Parents play a substantial role in designing their child’s future. How the child grows up to be or how he/she takes on life, majorly depends on parents. While a strong foundation can help the child in leading a fulfilling life, a weak foundation can make them struggle for very small things. Starting from ethics to education as well as success, parents are responsible for everything in a child’s growth.

They also serve as a significant influence in their children’s development and decision- making. Every parent wishes that their kids find success and happiness in life, and the one decision that affects these things is a good career choice. A research study indicates that students who feel supported by their parents in their decision making and career choices are likely to be more successful than those who are not. When parents support children in their decisions, the children start having more confidence in their abilities and skills. They start thinking of taking risks which can lead to a bright and successful career.

Now as we have stated above parents should always allow their children to choose the future they want. However, there are some tips that parents can give their children for excellent holistic development. Some of which are listed below.

Tips For Your Child’s Development
It is Also Vital To Assist Them

While allowing your child to make career choices is a good and valid decision, parents should also look out if their children’s approach towards that dream. Many times even with high potential students are unable to live up to their capabilities. This majorly happens when their approach towards their goal is wrong. Therefore, parents should immediately talk to their children if they see signs like:

Lastly, Finances are Important too

Every child has a right to decide his/her future and live out their dreams. However, with the growing costs, this may come out as a heavy burden on the parents. The costs of education are increasing day-by-day, and simple savings accounts are too short to cut on those expenses. Which is why it is crucial for parents to start investing in child education plans. These plans help in covering the mammoth costs of quality education that can help in paving a path to their child’s success. One can calculate the amount of sum assured that will be required for their kid’s education on child education plan calculator and purchase a policy accordingly. Moreover, by buying a child plan parents can also claim a tax deduction up to Rs. 1.5 lakh under Section 80C .

Summing Up

Parents have a significant influence on the level of training and education their kids receive. The knowledge a child needs to know about the different occupations; the beliefs and ethics they will need to follow while working, and the motivation they have to succeed are all provided by parents. Therefore, it is vital for parents to teach their children everything that can help them in making the right decision.

Suggested Plans

Generali CentralFEATURED

Generali Central Long Term Income Plan

With this life insurance policy, get life cover & guaranteed growth with regular payouts to keep things steady.

Product UIN: 133N054V05

  • Get Guaranteed income for up to 50 years.
  • Optional riders to enhance protection
  • Maximize your returns with Tax Benefits
  • Life cover during the policy term

Generali Central

Generali Central Money Back Super Plan (POS Variant)

A plan that supports your dreams with timely payouts while keeping your family protected through every stage.

Product UIN: 133N090V03

  • Get money back at key life stages
  • Receive a lump sum at maturity
  • Stay protected throughout the policy term
  • Save on taxes while you plan your future

Generali Central

Generali Central New Assured Wealth Plan (NON-POS Variant)

A guaranteed plan that helps you build wealth with confidence while securing your future.

Product UIN: 133N085V03

  • Lump sum maturity payout for future goals
  • Life cover up to 10× your annual premium
  • Pay for 6, 8, 10 years, benefits up to 20 years
  • Tax Benefits under Section 80C & 10(10D)

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Got Questions? We’ve Got Answers!

Here are answers to some of the questions you might have.

Life insurance is a financial safety net that supports your loved ones in your absence. If something happens to you, it provides them with funds to help cover everyday expenses, repay debts, and achieve future goals. It gives you peace of mind, knowing your family’s financial future is secure— no matter what.

The right plan depends on your needs.

Start by assessing your life stage, financial goals, and the needs of your family. Consider factors like your income, outstanding loans, future expenses and goals (like children’s education, foreign travel, study abroad), and desired coverage amount. We offer a wide range of plans that cover multiple goals and budgets. To get a better idea and make a confident choice consult with a financial advisor or call us on 1800 102 2355.

A good rule of thumb is to aim for coverage that's 10–15 times your annual income. Consider your family’s living expenses, outstanding loans, children’s education, and long-term goals. The right amount ensures your loved ones can maintain their lifestyle and meet future needs— even in your absence.

We would love to help you choose and buy the right policy for your needs. Call our toll-free number 1800 102 2355 or drop us an email at care@generalicentral.com.

Reach out to us in any way that you prefer, and our team of experts will soon get back to you!

Disclaimers

Understand your policy better with key details and insights into our Generali Central Life Insurance.

This Product is not available for online sale. Life Coverage is included in this Product. For detailed information on this plan including risk factors, exclusions, terms and conditions etc., please refer to the product brochure and consult your advisor, or, visit our website before concluding a sale. Tax benefits are as per the Income Tax Act 1961 and are subject to any amendment made thereto from time to time. If you have any request, grievance, complaint or feedback, you may reach out to us at care@generalicentral.com For further details please access the link: www.generalicentrallife.com/customer-service/grievance-redressal-procedure.

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