The child education plan is an investment plan specially designed as a savings tool to provide an amount of money when your child reaches the age for entry into college (18 years and above). The funds can be used to pay for your child’s higher education expenses. Under this plan, the child is the life assured, while the parent/legal guardian is the policy owner.
If you opt for a payor benefit rider, the education policy also provides assurance that, in the event of the policy owner’s untimely demise, the child will have access to the funds to help finance his or her studies.
WHY DO I NEED IT ?
The cost of higher education is increasing. The need for access to higher education and the cost will put a financial strain on you and your family. That is why it is important to start planning for your child’s education as soon as possible, because the earlier you begin, the more time you allow your money to grow. The child education policy will provide the funds needed by your child to pursue further education and assures that whatever happens in the future, your child will still have the means to pursue some of his/her goals in life.