Tutorials1927 - Education insurance is an insurance product that is used to provide a number of funds that can be used for children's education in the future to prepare early on and in accordance with its function, education insurance is for protection. The owner insurance is the father or mother who became the main breadwinner. The owner is required to pay insurance premiums in the amount and time of your choice.
The advantage, the owner of the insurance will get funds every time children enter new education, elementary, junior high, education insurance is an insurance product that is used to provide a number of funds that can be used for children's education in the future to prepare early on. In addition, it would be wise if you can do a projection of the cost value of education your child is that you are insured by taking into account the current cost and average cost-per-year rise.
In general, education insurance is divided into two parts, namely investment and protection. Investment aims to raise funds in connection with the cost of educating a child in the future, while the protection aims to protect and ensure the child's health costs when things are not desirable.In addition, it would be wise if you can do a projection of the cost value of education your child is that you are insured by taking into account the current cost and average cost-per-year rise.
This will greatly affect the value of the premium you will pay regular per-month or per-year, so that in time you will not be surprised if it turns out that your insurance life can not be sufficient to cover the cost of your child's education in the future high school, and PT . In addition, insurance funds will still be given if the owner dies without paying a premium again. Instead funds withdrawn prematurely will be subject to a penalty, is required to pay a certain amount.
When did you start this insurance? Preferably from an early age. You can start this insurance program since the 0-year-old son because the premium paid can be cheaper than if you follow the insurance when the child is older, the premium to be paid will be higher. Age children to a maximum of 12 years and the age of the parents is also a determining factor the amount of premium.
You then call the insurance company. Then, based on your plan, the insurance company will calculate how much money is needed for each level of education. From there, it can be concluded how much premium to be paid every month. The insurance company will also calculate the funds collected with a specified premium.
For example, if your current income of approximately US $ 5 million per month, assuming 10% - its for the children's education insurance costs, which amounted to Rp 500 thousand per month, or about USD 6.5 million per year.
From the description above, it can be seen that the visible education insurance is actually required by many people, but in practice there are many weaknesses were found.
The weaknesses among others, given his protection, his investment returns or return of investment in the insurance which led to his later you just do not have enough money for your child's school or college.
This is unfortunate because you've lingering raise funds but then become disappointed because the funds generated far from expectations. That is why, Financial Planning is good and really not too suggest to use education insurance to fund children's education. Why?
Because the insurance itself is meant for protection or protection. So if your goal to invest means that you are in a place that is less true. Invest in place and buy insurance for protection purposes only (pure insurance) separately so that you will get the maximum benefit from both.
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