Preparing the Future Education of Our Children

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Insular Life logoMost of what we do today affects our children’s future. And since the cost of education is steadily increasing, we need to work hard and prepare for their high school and more so, their college education. In the process, parents take on two to three jobs in order to make ends meet and so that they could also have some extra money for the future.

But this practice deprives us with much valuable time that we can spend on our children. In the end, the kids spend so much time with their yayas or babysitters that they look us as, their parents, as people who just provide them with their felt needs.

The best thing to do under our current circumstance is to let our money work for us. We should be wise with handling our money and where we put them. While there is a good number of parents who save money for their children, the problem is, they just put the money in savings accounts in banks. That is not very wise because the interest rates of savings accounts are virtually non-existent. They could hardly cover the cost of your fare going to the bank, much less the inflation. And since money placed in savings accounts could be easily withdrawn, the money stashed here is often compromised.

So put your money where it can work for you, such as in the two new products from Insular Life that are designed for our children’s future educational needs. These are called College Provider and Sure Cash for Kids. Below is a description from the company:

College Provider is a 5-pay educational plan that provides a college cash fund for your child at age 17. It also provides a life insurance benefit for your child equivalent to the college fund until he reaches age 21. On top of this, College Provider has a built-in waiver of premium payments, wherein the policy will be considered fully paid should the parents or the payor meet an untimely death or suffers from total and permanent disability. The policy will then provide a pre-college cash allowance equivalent to 10% of the face amount until age 16 to finance for your child’s elementary and high school education.

Meanwhile, Sure Cash for Kids is a 5-pay, 15-year savings and investment plan for your child that offers guaranteed yearly cash payouts and lump sum cash benefit with built-in life insurance protection. Yearly cash payouts equivalent to 10% of the maturity value will be given from the end of the 5th policy year to the end of the 14th policy year amounting to 100% of the maturity value. A lump sum cash benefit equivalent to 100% of the maturity value will also be given at the end of the 15th policy year. Your child is also covered with a life insurance protection for 15 years with the face amount increasing to 200% on the 4th policy year up to the 15th policy year.

Wow! Honestly, these offers sound really good. If we invest our money this way, then we will not have to think about whether interest rates can cover price increases as well as if our children will be provided if something happens to us.

I think I might need to assess our finances and find out if I can still afford another one. Dindin already has a couple of plans, but this sure sounds good. If you are interested at what Insular Life can offer, you may call Insular Direct at 878-1818 local 5403 or 892-3171. You may also send them an email at idirect@insular.com.ph.


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