In addition to saving money in the bank for the purpose of funding the education of children, the parents may also have to consider insurance education. When compared with the savings banks, insurance education clearly more advantageous because of greater interest than a regular savings which is an average of about 15% / year. Are you interested in purchasing education insurance to guarantee the cost of education for your baby? If true, it is better to follow the way of choosing insurance education below:
Know your insurance company
There are many insurance companies that provide insurance education. Before you decide to choose one of the insurance company, you are strongly advised to know the insurance company first so you know its quality. To obtain information about the company, please visit the insurance company and ask directly to the customer service available.
Adjust premiums for children’s education
Although education insurance gives you complete freedom to determine the amount of the premium to be paid, you are strongly advised not to choose an insurance premium in small amounts. Why ? Since the last few years the inflation rate of 12% to 15% with the increase in the cost of education by 20% to 25% annually. Therefore, if you are a low premium, it is possible that you can not meet the cost of educating a child in the future.
Choose a flexible policy
Some education insurance does not allow the insured to take out an insurance policy if it has not reached a certain period. but it is better to choose an insurance company that allows you to choose the policy that is flexible. This means that the insurance policy you can take whenever appropriate educational needs of children.
Check the additional facilities
Please check the additional facility of education insurance, health insurance in the form of compensation costs of medical care in the hospital. You may consider this facility if you also need to assure the child’s health costs. But, make sure that this additional facility is not cut too much the number of insurance policies in order to fund education remains insufficient.