Question

What is the main purpose of child insurance plans?

a.

To secure the financial future of parents

b.

To provide periodic payments at specific intervals

c.

To offer financial security for the children's future

d.

None of the above

Posted under IC22 Life Insurance Underwriting

Answer: (c).To offer financial security for the children's future Explanation:Child insurance plans are purchased by parents to secure the financial future of their children, particularly in the case of an unfortunate event like the parents' untimely death. These plans help parents save funds for their children's education, marriage, and other financial needs. By providing financial security for the children's future, child insurance plans ensure that children are protected against unforeseen financial contingencies.

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