1. Have you planned for the different expenses for your child, such as higher education and marriage?
6. Have you purchased a child ULIP?
Yes, in detail -32%
Yes-19%
Somewhat but not systematically-52%
No-81%
Not at all-16%
Less than one-fifth of the respondents have purchased a child ULIP.
One-third of the respondents have done child financial planning in detail. 2. Do you think child financial planning is not of much use, because the amount of funds required is based on career choice, which itself is unknown?
Yes-19% No-71% Can’t Say-10%
7. Do you think child ULIPs are a better option than regular mutual fund+term plan?
Yes-11%
Only one-fifth feel child financial planning is not of much use due to uncertainty of career choice.
No-71% Can’t Say-18%
8. Do you think child ULIPs are a better option than index mutual fund/index ETF+term plan?
3. Do you think child ULIPs products are difficult to understand?
Yes-37% No-46% Can’t Say-17%
More than one-third of the respondents find it difficult to understand child ULIPs.
Yes-11% No-66% Can’t Say-23%
4. Do you think child ULIPs are the best option for a child’s financial planning?
Yes-10% No-72% Can’t Say-18%
No-68% Can’t Say-21%
Two-thirds think index mutual fund/index ETF + term plan is a better option than child ULIP.
9. Do you think child traditional insurance is better than child ULIPs?
One-tenth of the respondents think child ULIP is the best option for child financial planning.
Yes-31% No-48% Can’t Say-21%
5. Do you think child ULIP is a better option than child mutual fund+term plan?
Yes-11%
One-tenth of the respondents think child ULIPs are a better option than regular mutual fund + term plan.
Two-thirds of the respondents think child mutual fund + term plan is better option than child ULIP.
10. Do you think it is better to go with PPF, FD, debt mutual fund, monthly income plan (MIP), FMP+term plan than child ULIPs, even if education funds are needed after a decade?
Yes-47% No-42% Can’t Say-11%
11. Have you come across an insurance agent who is actively selling child ULIPs?
Yes-50% No-50%
Half of the respondents have come across an insurance agent who is actively selling child ULIPs.
12. Are you considering student loan rather than save for your child’s education?
Yes-15% No-70% Can’t Say-15%
Only one-seventh of the respondents are considering student loan rather than saving for child’s education.
13. Have you written a Will?
Yes-19% No-81%
Almost one-third of the respondents think child traditional insurance is better option than child ULIPs.
Less than one-fifth of the respondents have written a Will.
Almost half think it is better to go with secured investments even if the funds are needed after a decade.