What are the actions required once the child turns 18?<\/strong><\/p>\nWhen the child turns 18 years of age, the mutual fund firm will stop the SIP. The firm will intimate the guardian and the minor of the cessation of the SIP.<\/p>\n
The concerned minor will be required to provide the required documentation to change their status from \u2018minor\u2019 to an individual investor. Once the necessary change to account status as \u2018major\u2019 has been made, the SIP can be resumed.<\/p>\n
Thus, investing in your minor child\u2019s name could help you meet your child\u2019s short- and long-term financial needs. This could prove extremely beneficial for you as you wouldn\u2019t have to bear the additional financial burdens while trying to secure your child\u2019s future.<\/p>\n","protected":false},"excerpt":{"rendered":"
Most parents constantly look for investment avenues that could help them financially secure their child\u2019s future. Through such investment, they look to build a sizable corpus to help them pay for the higher education needs of their children. Investing in mutual funds for children to cater to expected future expenditures is a popular option. A […]<\/p>\n","protected":false},"author":24,"featured_media":1832,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[330],"tags":[429,428],"_links":{"self":[{"href":"https:\/\/www.hellotalkies.com\/wp-json\/wp\/v2\/posts\/1831"}],"collection":[{"href":"https:\/\/www.hellotalkies.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hellotalkies.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hellotalkies.com\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hellotalkies.com\/wp-json\/wp\/v2\/comments?post=1831"}],"version-history":[{"count":1,"href":"https:\/\/www.hellotalkies.com\/wp-json\/wp\/v2\/posts\/1831\/revisions"}],"predecessor-version":[{"id":1833,"href":"https:\/\/www.hellotalkies.com\/wp-json\/wp\/v2\/posts\/1831\/revisions\/1833"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.hellotalkies.com\/wp-json\/wp\/v2\/media\/1832"}],"wp:attachment":[{"href":"https:\/\/www.hellotalkies.com\/wp-json\/wp\/v2\/media?parent=1831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hellotalkies.com\/wp-json\/wp\/v2\/categories?post=1831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hellotalkies.com\/wp-json\/wp\/v2\/tags?post=1831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}