Early financial planning gives children freedom to choose their future: SBI Life

Every child dreams of building a successful future, whether through higher education, entrepreneurship or pursuing a passion.

According to Rajiv Shrivastava, Zonal Director – West, SBI Life Insurance, parents can help turn these aspirations into reality by starting financial planning early.

He said that many key milestones in a child’s life, such as higher education and career choices, require long-term financial preparation. Starting early allows parents to gradually build a meaningful corpus through disciplined savings, manage future financial commitments more comfortably and prepare for important life goals with greater confidence.

Shrivastava added that a child insurance plan can support long-term goal-based financial planning by combining savings with financial protection. Depending on the plan, parents may benefit from guaranteed maturity benefits, waiver of premium in case of unforeseen events, continuation of the policy and flexible payout options aligned with future financial needs.

He advised parents to assess the milestones they want to prepare for, the time available to achieve them and the financial corpus required to support their child’s aspirations.