How to Select Education Insurance

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How to Select Education Insurance

In addition to saving money in the bank for the purpose of funding a child's education, parents can also consider purchasing insurance for education. When compared with the savings in banks, insurance education clearly more advantageous because the interest is itself larger than the regular savings, which average about 15% per year.

Are you interested in purchasing this insurance product to guarantee the education costs of your baby? If so, it is better to follow the way of choosing insurance education below:
Know your insurance company

In Indonesia, there are several insurance companies that provide insurance product education. Call it the Prudential, Allianz, Bumi Putera Insurance, Manulife, and so forth. Before you decide to choose one of these companies, you are strongly advised to get to know the insurance company first so you know its quality. To obtain information about the company, visit the official site and ask questions directly to the customer service available.

Customize premium to the cost of educating a child in the future

Although the insurance company gives you the complete freedom to determine the amount of premium to be paid, you are strongly advised not to choose an insurance premium in small amounts. Why? Because the inflation rate in Indonesia in recent years by 12% to 15% with the increase of tuition fees by 20% to 25% each year. Therefore, if your premiums low, it is possible that you can not meet the cost of educating a child in the future. Ideally, insurance premiums per month ranged from Rp 500,000 to Rp. 800,000.
Choose a policy that is flexible

Some insurance companies do not allow the insured to take an insurance policy if it has not reached a certain period. This is fine, but it is better to choose an insurance company that allows you to choose the policy that is flexible. This means that the insurance policy you can take whenever appropriate educational needs of children.
Check the additional facilities

Usually the additional facility of education is the guarantee of health insurance in the form of compensation cost of medical care in the hospital. You may consider this facility if you also need to guarantee the child's health costs. But, make sure that the additional facility is not cut too much the number of child education insurance policy in order to keep sufficient funds for education.


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