The world celebrates 3rd December as The World Disability Day. On this day, NGOs, governments, and organization working for benefit of disabled people are organizing events to promote awareness on disability and demand for social status of such people. In India too the events are being hosted on this occasion and a considerable work is being done for special children future.
Special Needs Children requires support for day to day care even after adulthood. This life-long dependency increases concern for parents knowing that they might not be there for the lifetime. Life insurance is an important element of Special Needs Financial Planning to fund this lifetime care.
Buying Life Insurance by such families demands a careful planning. There can be many legal issues involved considering the child may never be in a state of making decisions.
While leaving a legacy for your loved ones special needs children families have much higher concerns. Considering the support required by the special needs child and requirement for other family members, especially when there is a second child, the absence of an effective estate plan can throw up many challenges.