One of my friend has told me about term insurance plan it is very good plan for our children as you have only 1 daughter, you can think of it. A pure term insurance plan covers our child in case you or your hubby meet any unforeseen event. This is a risk cover that reduces the financial impact a family or a child’s faces in case something happens to the bread-earner of the family. So it is the best plan of our child in my view rest you should consult to your closest bank or any insurance office.