General insurance How to Fund You Child’s Education Through Insurance?

[Mika]

If you earn fairly well, you might be able to support your kid's education until he is in school. Once he is ready to go to college, you might need a lot of money to pay for your kid’s college fees. Let’s say your child wants to go to a medical school or engineering college. Can you actually support your kid’s education if you do not have big savings? Here lies the importance of insuring your child.

Let say, you buy an insurance policy for your kind when he is born. You pay the premium for 10-15 years. By the time the kid is ready to start his college life, you will already have some money to pay for college fees.

What if you become terminally ill or die? In a situation like this, who is going to support your kid’s education? Buying an insurance policy for your kid helps in the situations like these.

 

[Mataracy]

Insuring ones children education is very good. I had an experience of it from one of my uncle that ; he was doing it for one of his son in college they told him to be paying premium that after 10 years that son will have opportunity for scholarship in any of his choice of institutions.

 

[Mika]

When you insure your kid, you can use the insured amount along with the bonuses to pay for college fees. This is the primary benefit of insuring your child. Kid's insurance policy is not only for financial assistance during illness and accidents but also a way to fund your kid's education.

 

[Mandy96]

So it’s just like the insurance company helps parent to save up for their kids incase of financial challenges, the insurance is like a thrift collector and still add interest to your savings when you are ready to use it for your kid’s education. I think this makes sense if the premium is not too much to afford

 

[Jamoflondon]

According to your analysis, I think and I also believe this will be a smart move to make for any parent who wants their child to get educated. Because in an insurance policy like this, you will get to save up money for your child with the help of the insurance company.

 

[Alexandoy]

I have a niece who went to college by way of the educational plan taken by her mother. It was good because my niece was able to finish college. However, some other insurance companies that offered the educational plan have closed due to bankruptcy. Now the public has lost trust on those educational plans being offered by insurance companies.

 

[Jasmine]

There are various kinds of insurance packages. Based on your interest and needs, you can buy the one that suits you. There are insurance packages for child education, you can also buy life insurance for your child and use the money upon maturity to fund your kid's education. This kind of insurance policy is highly beneficial.

 

[Chibson]

Yeah this is definitely a very good plan and can go a long way to help you and your child's education even if you are no longer financially buoyant when the time comes. This is one of the reasons I consider insurance as an investment. I think I have to go with this idea when the time comes.

 

[Mika]

There are various kinds of insurance packages. Based on your interest and needs, you can buy the one that suits you. There are insurance packages for child education, you can also buy life insurance for your child and use the money upon maturity to fund your kid's education. This kind of insurance policy is highly beneficial.

Even though the primary purpose of insurance is to get financial coverage when something bad happens, insurance can also be used as an investment or saving as you can benefit from the insurance policy in many ways. When you buy life insurance policy, you can use the policy money upon maturity to support your family.

 

[Augusta]

This is a good idea to safeguard the future of the child or children as the case maybe. Even without one dying it might be difficult to pay for their college if one is facing financial hardship at that time. So I agree that this will help in the future for parents

 

[Jasmine]

Even though the primary purpose of insurance is to get financial coverage when something bad happens, insurance can also be used as an investment or saving as you can benefit from the insurance policy in many ways. When you buy life insurance policy, you can use the policy money upon maturity to support your family.

I understand what you are trying to say. Let say yo bought a life insurance policy of $10,000 for the term of 15 years when you are 20 years. By the time you become 35, your policy will mature, you will get $10,000 plus other bonus, you can use this amount to build your business or invest in something profitable.

 

[sincerem]

Insurance have been a major source of investment for the future. It saves one during rainy of troubles which could've been worst if no plans were taking to safeguard for the future. Buying a children's insurance package and hoping for it's maturity when the child reach college level is a good way to fund his or her college tuitions.