Providing life insurance to our children

Abstract

The long term nature of life insurance allows the insured to make long term future savings plans; while it provides protection in the event of an early sudden death. The main focus of the dissertation is the study of savings plans aimed for children. The earlier we encourage saving up, the more money that will be available; thus our children will be better off financially. Moreover, the plan acts as a peace of mind. The study continues to analyse the ways of how this sector can develop further - the goal is to raise awareness on the importance of a child policy. Parents ought to know about the possibilities and opportunities that exist for a better life for their children. The study has been analysed from different perspectives; both the buyers' point of view and the sellers' point of view through questionnaires and interviews held accordingly. The dissertation concludes with certain recommendations that the insurance market may adopt for a possible increase in awareness and knowledge.