09 Jun 2015 15:12 IST

Reliance Life launches child's education plan

Plan helps parents save for child's career milestones

Reliance Life Insurance has launched a new plan -- Reliance Education Plan -- that provides assured payouts for financing a child's education.

This plan -- non-linked and non-participating insurance plan -- helps parents save for their child's career milestones and also provide the child with security of future income.

"A large part of household's savings and expenditure goes towards education and career planning of a child. We felt a need for a product that would help parents in planning the future of their child and also provide financial assistance at different career milestone of the child's life," Manoranjan Sahoo, Chief Agency Officer, Reliance Life Insurance, said in a statement.

"Reliance Education Plan is designed to systematically save and secure a child's career plan and provide future income to them as per chosen milestones."