Planning universities for higher education can be done with the insurance money!
Now parents can open education insurance funds for their child’s higher education. With increasing competition and price hikes in admission for degree programs ( Doctorate, engineering, arts, science, finance, and management), an additional source of funds is always a better option. When you take out an insurance policy for your child’s education, you reap other benefits of tax saving, leverage the plan for loans.
These could be a term or permanent insurance plan for their kids education. With the rising costs of education and the uncertainty of inflation, parents can benefit from these insurances. Additionally, if they want to send their kids to a private school, they might need to save extra and look for insurance policies with better benefits. They may need to find out the average private school fees and calculate the amount they would require for the education of their kid. They can then browse for good policies that offer features like tax savings, instant claim process, and other benefits as well.
Education insurance corporation are consistently working to bring out plans that could benefit the parents. Wisconsin, Oklahoma, Ohio, New York, North Carolina are some places where education insurance has seen a boom in recent years.
With the increasing number of natural calamities, people find it safe to invest in education funds for their children.
Investment perspective Education insurance plans
Sunlife education insurance issued a statement about how a little amount per month can help a child’s education. In the Philippines, people can invest as low as 2000 pesos per month to contribute towards the education funds of their children.
Similarly, in the USA, you can calculate the average cost of admission to uni for an engineering degree and add up a 4% rise per year to start a fund for your child’s education.
How many education insurance plans one can have!
In the USA, you can have one plan per child, or you could have a corporate policy that releases money on fixed intervals. This can be used for admission, medical or life insurance claims, and other liabilities.
To help your child understand the importance of insurance and money, you can enroll them on insurance websites. These websites run webinars and send study material of frequent intervals to inform about the changes and benefits of the policy.
The best gift you can give your child is admitted to a top university for their passion to come alive.