BONSERNEWS.com As a parent, you definitely want your children to achieve education without being hindered by financial problems. This can be overcome by choosing education insurance that guarantees and provides protection for children’s education.
It is not difficult to choose education insurance that suits your needs. Quoted from the OJK website, tips for choosing education insurance only need to follow 4 things.
However, before knowing tips on choosing education insurance, it’s good to know the 2 types of education insurance in Indonesia. The two appear similar in terms of protection and yield but have significant differences.
Also Read: Carefully Choosing Sharia Insurance Products
Types of Education Insurance
1. Endowment Education Insurance
This education insurance is a product of a combination of life insurance protection plus money market instruments. Insurance will guarantee the child’s education costs if later the parents can no longer make a living due to death or total disability.
2. Unit Link Education Insurance
This type of education insurance is also a combination of life insurance services and investments. The premiums paid each month will not only protect the future of children’s education but will also be managed for investment products such as mutual funds. Profits from the investment will be shared along with the school children stage.
However, it should also be understood that every investment has its own risks, even though there is an opportunity to get high returns or investment returns on savings, behind that there are also high risks.
After knowing the types of education insurance, now is the time to find out tips for choosing education insurance.
Tips for Choosing Education Insurance
1. Calculation of Required Education Costs
Before starting to look for suitable education insurance, you must first determine the extent of the education costs needed. All aspects of costs should be taken into account. For sufficient education costs in the future or for a duration greater than 10 years, such as the cost of tertiary education, inflation should be taken into account so that the value of the investment we are planning at this time can offset the increase in education costs.