ITI190 – Education Insurance for a bright future life.
As “new parents” who have only experienced the beauty and excitement of being a parent for the past four months, Andi and Siska began to think about their child’s future. In fact, they have been thinking about it since they were still in their wombs, but it has only been a few months since these thoughts have felt real and must be realized immediately. With their current financial condition, they are aware that they have to start planning the best things for their children carefully from an early age, one of which is preparing for future education. It has become the dream of every parent one day. Their child can have a good and high education. Having a high level of education is believed to be able to help someone achieve their goals and improve their standard of living.
To get a good and high education, Andi and Siska are aware that they have to pay a lot of money. In addition to inflation that will continue to exist, the cost of education also continues to rise every year. Besides that, the education period also takes a long time, starting from Kindergarten, Elementary School, Junior High School, Senior High School, to College. Aware of this, apart from preparing education savings, Andi, as the backbone of the family, also prepares education insurance because we never know how long we can accompany our children. With education insurance, if one day there is a risk of death or other unwanted risk befalling the breadwinner, which in this case is Andi, education insurance will ensure that the child’s education costs are still protected, and the child can still continue his education because there are benefits from education insurance. This education insurance can start from the time the child is born until the age of 17 years, with the main target being 0-10 years old. Like Andi, the sooner you start, the greater the benefits you can get.
In general, there are currently two types of child education insurance. First, waqf insurance and education insurance “unit link”. Both are different in terms of interest or investment returns. Endowment education insurance is a combination of life insurance plus money market instruments such as deposits that provide a definite value for investment results. Meanwhile, unit-linked education insurance is a combination of life insurance and mutual fund instruments whose results are volatile.
Therefore, before making a choice, it is crucial to know in advance the extent of the education costs needed. Take into account the registration fee or entry fee, monthly tuition fees, book fees, transportation fees, and others from entering school to graduation. After that, calculate the premium that you can afford not to disturb the family’s financial condition, and the premium payment gets stuck in the middle of the road. The next step is to choose an insurance company that suits your needs and abilities. Choose carefully and carefully so that there are no regrets in the future. You can get education insurance at branch offices of life insurance companies, agents of life insurance companies that have agency certificates from the Indonesian Life Insurance Association (AAJI), websites of life insurance companies, and various other distribution channels that have collaborated with life insurance companies. Choose an insurance company that has been registered and supervised by the Financial Services Authority (OJK).
It is no less important when filling out and signing the insurance product purchase form, fill it out completely, honestly, and clearly. For example, many people incorrectly enter the name of the insured with the name of the child, even though it should be filled with your name as the backbone/breadwinner of the family. If you fill in the wrong insurance product that you have becomes ineffective, the premiums paid so far will be in vain. As a result, if the breadwinner dies, the sum assured will not be disbursed.
Education funds are essential things that must be prepared early on as proof of our love that will benefit the children in the future.
Education Insurance for a bright future life by ITI190 – Insurance Top Info 190.