Education Insurance

The child education policy is a life insurance product specially designed as a savings tool to provide an amount of money when your child reaches the age for entry into college (18 years and above). The funds can be used to pay for your child’s higher education expenses. Under this policy, the child is the life assured, while the parent/legal guardian is the policy owner.

The cost of higher education is increasing. The need for access to higher education and the cost will put a financial strain on you and your family. That is why it is important to start planning for your child’s education as soon as possible, because the earlier you begin, the more time you allow your money to grow. The child education policy will provide the funds needed by your child to pursue further education and assures that whatever happens in the future, your child will still have the means to pursue some of his/her goals in life.

Choosing a plan

When choosing a policy, always:

  • Consider how much money you want to set aside for your child’s education.
  • Make sure that the premium is affordable.
  • Choose a policy that gives you flexibility so you can gradually increase the savings in the future.
  • Ensure that you opt for the payor benefit rider.
  • As a parent, you certainly want the best for your child. And that includes giving your child a bright future with the best university education you can afford.But did you know your child’s university education could cost over $500,000 in 20 years’ time?

    For most parents, the escalating cost of higher education may come as a rude shock. Whilst a local university education is projected to cost well over S$100,000, a degree course in the USA could cost a staggering S$352,738 by 2025.

     

    although many education experts stress that our children will need a higher level of education to compete in the global economy and ensure job success, the fact is the alarming cost of education could be a painful drain on family finances – or even worse – saddle a young person with crippling debt.

    That’s why it is crucial to start saving for your child early – ideally from the time your child is born.

    Secure Your Child’s Future
    With education insurance, you can secure a sizeable fund for your child by the time he or she enters university. It’s a specially designed education savings plan that helps you maximize your returns whilst providing comprehensive insurance protection for your child.

     

    Important Notes:

    The above is a simplified description of the product features. This is not a contract of insurance. The precise terms and conditions of the policy, including exclusions whereby the benefits under your policy may not be paid out, are specified in the policy contract. You are advised to read the policy contract.

    Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable may be less than the total premiums paid.

    Education Insurance

    The child education policy is a life insurance product specially designed as a savings tool to provide an amount of money when your child reaches the age for entry into college (18 years and above). The funds can be used to pay for your child’s higher education expenses. Under this policy, the child is the life assured, while the parent/legal guardian is the policy owner.

    If you opt for a payor benefit rider, the education policy also provides assurance that, in the event of the policy owner’s untimely demise, the child will have access to the funds to help finance his or her studies

     

    Why do you need a child Education policy?

    The cost of higher education is increasing. The need for access to higher education and the cost will put a financial strain on you and your family. That is why it is important to start planning for your child’s education as soon as possible, because the earlier you begin, the more time you allow your money to grow. The child education policy will provide the funds needed by your child to pursue further education and assures that whatever happens in the future, your child will still have the means to pursue some of his/her goals in life.

    Although many education experts stress that our children will need a higher level of education to compete in the global economy and ensure job success, the fact is the alarming cost of education could be a painful drain on family finances – or even worse – saddle a young person with crippling debt.

    That’s why it is crucial to start saving for your child early – ideally from the time your child is born.

    Important Notes:

    The above is a simplified description of the product features. This is not a contract of insurance. The precise terms and conditions of the policy, including exclusions whereby the benefits under your policy may not be paid out, are specified in the policy contract. You are advised to read the policy contract.

    Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable may be less than the total premiums paid.

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