Planning for a child’s college education should begin at an early age. Many parents take this issue very lightly as they do not foresee the potential of their children and therefore this education planning has been neglected. With the education loan available these days from financial institution and government study loan, parents tend to develop a wait and see attitude without considering the debts that their children will have to carry if any loan taken up in their college time. As a parent, we suppose to lay a positive foundation for children instead of putting them in the debt position right after their college.
There are many ways to raise the fund as mentioned in my earlier blog but why do we need to choose the Education funding plan that has insurance coverage. The reason is very simple because you will be fully protected while saving for your children future fund. Under this kind of fund raising method will give you the assurance that sending your children to college or university is secure no matter what happen to you. Furthermore, Insurance come with a special feature that it has the income benefit should the payor diagnosed with dread diseases. This benefit will allow the policy holder to enjoy receiving free yearly premium pay out until the maturity of the policy, which mean the account will continue to be in forced. Most insurance companies will have this features for their policyholders.
Compare to other way of saving or fund raising, the account of accumulating will stop if something happen to the contributor unless there is an immediate substitute contributor to that funding account. Choosing insurance education plan will be a secure way to raise the education fund and our children future education is guarantee.
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