6 Tips for Choosing the Right Insurance Child Education
Every parent wants to prepare all that is best for children, including education. However, the cost of education is increasing every year. It is a challenge for parents to prepare children's education early. Seeing the opportunity, insurance companies competing to launch insurance products to ensure the education of children in the future. Guarantee this education you need to look deeper, before choosing a good education insurance for your baby.
If you've got a few quotes from some insurance companies, do the following 6 tips in choosing the right insurance and the best education.
1. Create Child Education Plan
Before glanced quotes from an insurance company, you need to make a child's education plan. This plan is very important and a guide to selecting the right insurance education. Without a clear educational plan, you will be confused in choosing an insurance product.
Have you thought how high will your child's education? Education plans contain child education, from elementary, intermediate, to advanced.
You already know where your child will go to school? Education plans need to be made as detailed as possible to include the names of schools and school enrollment year in the future. It is closely related to children's education expenses.
In making educational planning, you need to know the profile of some schools. Ask your relatives, neighbors or other parents who have put their children in schools. Furthermore, you can visit these schools. This will help you choose good schools and quality.
Another important thing that you can not miss in making a child's education plan is to identify the interests and talents of children from an early age. You should not plan, it remains that doing so is your child. So, do not ignore the passion of children.
2. Do Research Education Costs
In addition to the profile and prestige of the school, you need to research the cost of education today to obtain the estimated cost of education in the future. After pocketing some of the school's name in every level of education, find out the details of the costs incurred by the parents of early admission to graduate school.
These costs include costs of school education (both annual and monthly), the purchase of school books, supplemental education (tutoring, private tutoring or extracurricular), the cost of school uniforms and stationery, pocket money and the cost of other school needs.
Details of the cost of education today will give a picture of your children's education expenses in the future. Well, the next question is how to determine the cost of education of children the next few years?
So, you can make the cost of education in the future by knowing the total cost of education today. By knowing the estimated cost of education in the future, you can choose the right insurance to guarantee the education of children.
3. Recognize Trusted Insurance Company
Each insurance company has its own advantages and disadvantages. To choose a good insurance company, you need to consider the financial strength of the company, ie the assets and liabilities and the quality of labor. Assets and liabilities can be seen from the consolidated balance sheet is transparently communicated to the public.
Next, select an insurance company that has a good track record and reliable. Listen to the explanation of an insurance agent and ask questions as much as possible so that you really understand about the products offered. We recommend that you ask a few cases such as when the breadwinner of the unfortunate and asked for a solution that can be given by the insurance company.
In addition to obtaining detailed information from an insurance agent, you need to ask some people who have followed the education insurance program. Ask in detail what advantages and disadvantages as well as bitter and sweet experiences become customers of insurance education.
If you are having trouble finding information directly, you can use the Internet to get a more complete description of such insurance. You can join online forums and social media group which discusses the insurance you want to select.
4. Choose the Appropriate Insurance and Financial Capability Plan for Children's Education
Well, when faced with several options of insurance companies, you need to look at other aspects in choosing the right insurance and quality education. The baby's education plan, in particular the estimated cost of education in the future, be able to assist you in determining the right choice.
Learn all the information that you get a good insurance agent or from other customers who have been following education insurance program. Reopen the education plan and the expected cost of educating a child in the future. Adjust the educational plans with insurance education program offered.
Before you invest revenue into an insurance product, you need to identify the financial condition beforehand. You should measure how much money you can comfortably set aside and what financial risks you face when buying these insurance products.
Start managing finances (salary) in order to meet your children's education planning in the future. Measure your financial capabilities and choose the premium according to your financial condition.
5. Select Policy Flexible and Profitable
Insurance program is not like saving money in the bank that you can pull at any time according to the needs and desires. Education insurance is a type of long-term insurance that can be taken after the child reaches a certain age and ready to enter school to a higher level.
However, we never know the changes in the future. Changes in the education system and curriculum can affect the cost of education, such as the alternation of school books and the growing educational needs of children. Of course this is a major influence on the estimated cost of education you had planned earlier.
For that, you should choose a policy that is flexible and profitable, that can be claimed at any time to meet the educational needs of children. Make sure you do the calculations accurately in order to avoid shortage of the cost of education after making a claim.
In addition to flexibility in the claims, also select insurance that makes it easier to increase investment gradually. It is very likely to happen if your income rises. If you plan to send children abroad, select a policy that can be changed to other currencies for example the dollar or Euro.
6. Check Other Facilities
Another thing you need to consider before choosing an insurance education is checking other facilities offered by the insurance company. In addition to ensure the education of children, usually other facilities offered are health insurance.
If the child is enrolled in school insurance have health problems, the cost of hospital care will be reimbursed by the insurance. If you feel the need for child health insurance, you can choose the insurance education that has this benefit.
While there are additional facilities offered, make sure that your top priority is the education of children. The additional facilities should not cut investment in education of children so much that school fees in the future is ensured.
When choosing an insurance product education, you should do the calculations with care and attention to the needs and consider your financial condition. Never choose insurance education if you do not already have an idea and planning of children's education in the future.
Remember, education insurance is a type of long-term insurance. So, do not be hasty in making decisions. Once you decide, you can never go backwards, unless you give up premiums already paid in advance.