The cost of children's education from year to year continues to increase. This causes many parents to allocate more funds to support education for their children. If it is not prepared early. In most cases, parents will be able to fulfill the cost of education for their own fruits. Therefore, the easiest and most secure solution is to follow the child's education insurance.
This problem is certainly a chance. Especially for business people engaged in insurance. Companies will compete to offer the best insurance products to attract customer interest.
For that, before you decide to save your money in the form of child education insurance, you should need to be careful in sorting out which insurance product is right to be the best investment especially in the case of child education.
Here are 7 ways to choose the right child education insurance.
1. Plan for child education from the beginning
The best education insurance is the thing you should choose. In order not to misvote, you need a mature plan before deciding to buy one of the insurance products. This plan becomes an important basis so you will not be confused about choosing good educational insurance.
In order to develop an education plan, you should talk to your spouse. So you can both determine the height of what your child's education is. In addition, you can plan where your children will attend school from Elementary, intermediate to advanced. Although sometimes the child will choose a school on their own there's no harm to you planning it first from now on.
To get valid information about a good school, you can ask relatives, neighbors or friends who have put their child into school. You can also visit yourself in some of the schools you want to know which schools are good and suitable for your child later on.
2. Calculate Required tuition Fees
Calculating the cost of education insurance After you have a plan that is mature in terms of child education. Start to calculate the overall cost needed during your child's education. This leads to costs ranging from elementary school to the highest level of education.
As much as possible you get the full information about the educational place you choose so that you can know how much it costs you need during the child's school in the place. In addition, you also need to estimate the increase in tuition fees that certainly rises from year to year.
By calculating the required cost will certainly help you to start saving part of your income as savings for the future of your child.
3. Family Financial Budget evaluation
After calculating the costs needed during your education, immediately evaluate your family's financial budget. Calculate how much money you have to keep per month (if the salary is monthly) to meet the child's educational cost requirements. The amount of money you save must be equal or even more to the cost of children's education needs. Therefore, it is worth the money that you save is protected with children's education insurance.
This is to be in the case that something unwanted, the child can still continue his education until it is finished. Therefore, evaluating your family's financial budget is crucial so that you can prioritize some of your money to get child education insurance.
4. Look for the best and trusted insurance company
Planning and calculating the need for child education costs will feel free if you are wrong in choosing a child education insurance product. For that, be careful in choosing the insurance company that you would trust to manage your finances.
Moreover, now almost all insurance companies have children education insurance services products. Many options available do not even make you wrong to choose which consequently hurt your own. Each insurance service must have advantages and disadvantages. So to determine the best insurance company, you should pay attention to the company's finances. In addition, look for insurance companies that have a good track record in the eyes of consumers who used to use it.
To get accurate information, you can ask your acquaintances who have used the insurance service. Ask in detail from the pros and cons, the way it works and the service and how much benefit you can get.
In addition, you can also search for information via the Internet. READ carefully what the insurance company has to offer. At least it will help you to determine which insurance company you choose later.
5. Choose insurance products that suit your needs and requirements
At this point, you should already have a selection of insurance companies that suit your criteria. The next step is to choose an insurance service program that suits your child's educational needs. There are at least some types of insurance that you can choose from such as Unit link insurance, dual-purpose insurance, or futures insurance.
Whichever insurance program you choose later. Try to reopen planning and calculating your child's tuition fee. As much as possible to choose the insurance service that suits your skills and needs. Do not let you choose insurance products that even burden your finances. So that the other needs are not fulfilled.
6. Pay attention to other charges
In addition to considering the cost of needs that are suitable to your budget, there are other things you need to note in choosing an insurance program that is the other costs imposed on the insurance that you choose.
Do not reach the budget of the funds that you allocate instead of Sesusai with the needs of the future tuition fees. Because you are charged with miscellaneous charges applied by insurance services companies.
Therefore, read and learn carefully what is the advantage of the weakness of insurance products that they offer. If you don't feel appropriate, try looking for similar service products in another company. Who knows elsewhere is charged a small fee so it will not burden you later.
7. Also, understand the risks of insurance products
In addition to paying attention to the fees charged to customers, you also need to understand the risks of your chosen insurance product. For example just like the Unit link insurance type. As quoted from kompas.com that the unit link insurance is a type of non-traditional insurance that has a greater amount of risk than other types of insurance.
This is given that the unit link insurance has two pockets that are bags for protection and investment pockets inside. The link unit is closely related to the development of the capital market so that when the capital market decreases then the value of link units also comes down. This is what you need to understand the amount of risk you should receive in the future.
Risks here certainly have two options, you can lose or even beneficial because it is in the form of insurance plus investment. If you are a person who chooses a certain thing, then choose a safe insurance product and have a small risk so that the insurance benefits you choose according to your child's education needs.
Choosing a child education insurance can not be reckless. You need to research from the beginning so that any insurance product you buy later can benefit and support the child's education in the future.