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Everything You Need To Know About Child Education Insurance

looking for child education insurance plan malaysia

With rising living costs and aspirations in modern life, it is critical to plan your future, particularly that of your children, so that they can have a financially safe and secure future. A happy and successful life is dependent on financial stability in the future, which a promise of education savings can provide for your child. Give your child a secure future and a foundation for their dreams with a Child Education Savings Plan, which will assist your child in achieving their goals by ensuring they can easily afford higher education. Insurance companies do understand that the cost of education is rising and that planning ahead of time is essential; thus, we have designed Education protection plans with high returns, low risk appetite, and lifelong coverage that your child can enjoy when he decides to pursue higher education in the country or abroad. Click here if you are looking for child education insurance plan malaysia.

You also have the option to top up your education savings plans on a regular basis, as well as for family financial planning to upgrade your investments in your child’s education in accordance with his/her aspirations and the changing world. Select an educational savings plan that combines your savings with an insurance and investment plan that provides you with the desired returns to support your child’s dream of attending college. Great Eastern education savings plans are designed to turn your savings into smart investments and education savings that secure your child’s future; these are the types of education savings plans that you can start even before your child is born and also tailor to your child’s age and future goals.

looking for child education insurance plan malaysia

Endowment and investment-linked policies are the two most common types of education plans. Endowment policies are similar to savings accounts that include insurance benefits, whereas investment-linked policies allow you to invest while still maintaining coverage. A lump sum benefit plus bonuses on the accumulated premium is typically released upon maturity for both policy types. With investment-linked education plans, high-performing funds can now earn special dividends and bonuses that will be paid when the policy matures. However, it is more expensive to maintain, whereas endowment policies are typically less expensive overall. 

looking for child education insurance plan malaysia

The most significant advantage of purchasing such a policy is the possibility of receiving bonus payments that are added to your child’s education fund as you continue to pay the premium. The levels of bonus vary depending on the provider and plan; for example, it offers a bonus of 15 times the payable premium when your child enters university. On the other hand, provides a 2% bonus on the value of an account for the last 60 months of the policy. Most of these policies can begin as soon as your child is 14 days old, and if you continue to pay your premiums, your child will benefit from a significant financial boost that has been built up over the course of 18 to 23 years. These riders assist in covering basic premiums in the event that one or both parents die or suffer total and permanent disability. This way, no matter what happens to you, you’ll have peace of mind knowing that your child has the financial resources to further his or her education.

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