How Term Insurance Can Support Your Child’s Education [Video]

 is a vital necessity for parents. It secures the financial future of the child in case of an untoward incident. It also provides peace of mind to parents, knowing your child can rely on a steady income source in your absence.

As caregivers, parents have ongoing responsibilities, whether in life or beyond, and term insurance serves as a means to effectively fulfil these financial obligations.

Find out how you can use term insurance to support your child’s education.

How does term insurance help in providing for your child’s education?

Here are five ways a term insurance plan can benefit your children:

1. It offers a guaranteed death benefit A term life insurance policy ensures a guaranteed death benefit in the event of an unfortunate incident occurring within the policy term, provided that all premium payments have been made punctually and the policy remains active at the time of the incident.

The predetermined payout for the child, chosen …