Education Planning

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Education Planning

“The Best Education plan is always a good Insurance Plan on the Parent.” This must be remembered always. Many parents tend to purchase Education Plans without considering proper coverage for themselves. If the Parent still insists on the Education policy for the child, OBLIGE, but package enough term cover on the parent’s life to ensure that the family will receive income when calamity strikes.

This presentation is meant to help you put together a package consisting of a regular Endowment/Education Policy with an Anticipated Endowment policy (if the Budget is large enough). Ultimately however your Goal must be to help the Clients achieve their Accumulation Goal for their Children’s Education.

• The Anticipated Endowment’s regular Cash Payout is what is termed ‘REGULAR GRANT’ in the presentation.
• The ‘Annual/Monthly Income’ is an Income rider. Alternatively you may add on a Level Term/ Critical Illness rider/ policy which will provide a lump sum of Cash in the event of Death, TPD and Critical Illness.

The Cost of Education has been rising ahead of inflation, at approximately 5% to 6% per annum. It is also noted that many parents are intending to send their children overseas because of the high level of stress in the local scene or the inadvertent need to get a “better” qualification in order to compete in the job market.

It is important for you to find out how your prospects feel about local education and why they may/may not consider sending their children overseas. If an overseas education is desired, you should find out where in the world they would like to visit for their children’s graduation.

Note that Endowment Plans alone may not be able to fulfil the prospect’s goal. Other plans, such as Single Premium policies (Bonds, Unit Trusts, etc) should also be considered.

Feel free to fill up this inquiry form if you have further inquiries on our services.