Children need some special care so that they can grow to their full potential. And your money needs to be taken care of in a way that's just as special, so that it can help your child in the future too. Choosing one of the children plan can help you out there. But how do you find a child plan to protect your child in the future? Choosing a child life insurance plan isn't as hard as you think. You just need to look closely at some features that are essential in a plan, and then find one which best suits your needs. But before you go choosing, ask yourself what it is that you want. How much money do you believe you will need? Are your goals short term or long term? Depending on what your child's age is - ask yourself how long you have. If you want the money in about five or seven years, then it counts as a short term goal. On the other hand, if you're planning for a good ten to twenty years into the future, then it's a long term plan.

Be it your child's education or marriage that you're hoping to save up for - you need to start early. Most of the children insurance plans give the best returns when you go in for the long term plans. There are different ways in which you can get the money you're assured. Think of that when you're choosing the plan too. Do you want the sum assured to be given to you periodically, so that you can take of the needs of your child as and when they arise? Or would you prefer to get a lump sum in hand at the end of the maturity period? The choice is yours, depending on what it is that you want. Another thing you want to look at is the way that your money grows. Putting your money in unit linked insurance plans (ULIPs) ensures that a part of your money is invested. You get bonuses depending on how the investment fares. Remember though, that you don't get any interest on the bonus - it is simply the returns of a good performance being passed on to you.

Most importantly, get a €waiver of premium' - this means that if you should die, your policy will be paid for by the life insurance company till the policy matures. Shop around - don't pick the first child insurance plan that you see. Talk to a life insurance agent from different companies and get an idea of the different plans offered.