How To Raise Children Education Fund In Smart Way?

Everything is on the rise and there is no exception to children education fee today.  Those parents who have college bound children will know it better because they have done the research and comparing colleges or universities tuition fees. The tuition fee will continue to rise in the coming years and therefore, parents today has to do a proper education planning at the early stage of their children. 

There are several ways to fund the education. The most commonly methods are as below:
1) To apply study loan from financial institution, government loan or colleges/universities financing scheme.
2) For those who scored excellent grade during school academic can apply for scholarship either to the Private organisation or to Government.
3) Saving in the bank account is the most traditional way. You can accumulate the saving in the saving account or Fixed Deposit account. Both will bring the interest to your account.
4) Saving in the Unit Trust can be another effective way to accumulate interest . It will show good sum of money over a long period of time.
5) Insurance Education Fund is also another excellent way to save because of the high return of cash value.

Parents are aware of all this methods but they might lack of the knowledge to select the best financial tools to help them raising the fund for their children in the education fund. Most of the methods are emphasizing on the saving rather than raising the fund effectively. Let ask a question to ourselves, what if we fall sick during the saving period and not able to generate income ? What if some thing happen to me ? What if I'm in financial difficulty ? Worse still , what if I die today ? The college or universities dreams of your children will shattered.

I always give consultation to parents especially young couple who has children below 5 years old to consider Education Plan from Insurance company. I'm not pushing for Insurance here but to educate all the parents how to raise your children fund in smart way. Parents should use insurance policy as their fund raising vehicle because insurance company provide the most benefits compare to other methods mention above. The return is also one of the highest in term of interest. The most beautiful part of Insurance Educational Plan can add in with Payor Income Rider which mean if anything happen to the payor of this education plan account like death, become permanent disabled or diagnosed with dread diseases, the insurance company will continue to save for your children until maturity of the agreement period. Children can still have the college fund to proceed with higher education no matter what happen to the parents.

When come to money related matters, we got to be smart dealing with it and listen to the advise from the expert to select the best method. All methods are good but we want the best one to help us in achieving our goals.