Buy Education Insurance for your Children

It is a known fact that many people have kids in school, but greater numbers of them have no education plan of sort that can take care of children`s academic or professional demands.  

Everybody now wants their children to be educated, some emphasize stability and continuous at the basic level.

There are other people that want more than basic– quality education and continuity. You too can have it all. Only if you can do what the elephants in the house are doing.

They plan their children education while you take it as a random assignment.

My name is Funmi Fabiyi, I am a financial planner with Allianz Insurance. I have seen enough, if not all. Insurance is not popular in Nigeria. But silently, people are key into taking education policies from insurance companies. The objective is simple: To take of the future of their children, taking policies could be the best gift you can give the Princes and Princesses.

When I talk to parents about their children’s education plan, I get answers from both ends of the spectrum that sounds like; ‘I have saved up for my child’s education using kiddies’ savings account with XXX bank’. Or “I have plan for my child’s education by doing my own investments because banks interest rates are too low!’.

Read Also: Former Orange bosses stand trial over workers’ suicides

Hey, the story on the street, except you are not aware of any, have shown that there is surely a price for being unprepared.  The thing is, there are reasons why I think it makes a lot of sense to save up for children’s education using insurance.

Now, lower the risk   

You have lower the risk of failing to be able to send your children to school whatever the case may be. The future is unpredictable. People lose jobs daily. Some bread winners have passed away without putting educational plans in place for their beloved ones. Certainty is lost if an unplanned events occur; children’s education is not meant to be gambled.

With Allianz Insurance Plc’s education savings, there is sum assured benefit which is payable upon death of parents or guidance. The policy comes with funeral expenses benefit, up to a maximum of 10% or N500, 000 would be paid.

The package include critical illness benefit, this is 70% of sum assured and permanent disability benefit pegged at the sum assured or account balance, Allianz Insurance would pay whichever is higher to the beneficiary.

Accidental death benefit twice the sum assured. Full repayment of contributions plus interest at maturity Allianz Insurance would continue to pay your children’s school fees until this benefit is exhausted.

SOURCEFunmi Fabiyi
Previous articleEmefiele’s Reappointment Unlikely to Mark Turning Point in Policy
Next articleInvestors fortune decline as stock market drop by N141bn
MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.