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13 Jun 2018

What is Child Education Insurance?

What is Child Education Insurance? - Asura

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Child education insurance is one type of insurance supplemented by investments that adopt a unit link scheme system. The premium you pay for education insurance will be managed by the insurance company as a profitable investment fund. The investment results that you get from the education insurance can be used to prepare your child's education fund in the future.

You can apply for education insurance in advance, even before your child is born. The interesting thing about this insurance is that you also get life protection. So, if one day an unwanted event occurs to you, for example, you have an accident that results in loss of life, then you do not need to worry about your child's future because the education fund will be covered by the insurance. If your child is sick and needs an inpatient fee, this insurance will replace the cost of the treatment.

In addition to earning money for tuition fees, your child will also get investment returns, the amount of which depends on the management of funds by the insurance. The funds used as investment capital can generate large or small profits. If you find that the investment in education insurance that you get in the future is not very large, you can prepare other alternatives such as sending your child to a public school since fees in public schools are usually cheaper than in private schools, and even public schools do not charge the same once (free).

You can withdraw education insurance in stages, depending on your child's needs and the length of the insurance contract that you agree on. For example, when your child enters kindergarten, you do disbursement, then you do the withdrawal again when your child enters elementary school, and so on until the contract period ends. Premium deposits are made every month during the contract period. The premium you pay can be adjusted according to the financial ability you have. Premium deposit must be really done with discipline. Make sure you are not negligent. Negligence can cancel the agreed insurance policy and then the planned education costs for the child will not be paid by the insurance.

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