Children are the mandate of the Almighty for every parent. Inevitably, none of the parents on this earth would want to abandon their own children.Therefore, many of today's parents are very protective. Most of them would want the best for their children
When it comes to education, millennial parents are focused on preparing for their children's education cost. Education helps in the development of the child, so saving for child's education costs is very important. Some parents would also consider getting an education insurance for their children. But what is education insurance and how does it work? Check out the following review.
Same as Unit Link Insurance. For people who don't know, education insurance has a scheme similar to unit link insurance. The principle is insurance funds managed by investment managers with appointments from insurance companies.
Gradual Liquefaction. The purpose of education insurance itself is that the cost of education for children at each stage can be covered well. For example, if a child enters kindergarten then the education fund can be taken, the same when entering elementary school and so on according to the signed contract.
There is a premium. Just like insurance in general, customers are certainly required to pay premiums according to the contract period. The customer clearly must adjust to the desired ability and time period until the results can be picked.
Taking education insurance for preparation of children's education funds is certainly fine. The most important thing is to keep calculating financial capabilities and to understand correctly the extent to which these funds will be useful for future children's educational needs.