9 Things Regarding Education Insurance That Must Be Learned

Mistakes are indeed things that are very often done by anyone, be it at a small, medium level, even though big mistakes shouldn't happen. Even while selecting the type of child education insurance. In this mistake, sometimes, even more often, because of inadequate understanding of education insurance, coupled with the sweet promises of insurance agents, parents are easily lulled into buying a type of education insurance that is of low quality, which in the future will not meet the educational needs of their children.

Well, here are some things that you should learn when you want to buy insurance for children's education in order to get the best company, manufacture, protection and investment value.

Before buying child education insurance, think about the time remaining until your child enters school, for elementary, junior high, high school, and college ages. Approximately by saving some money, how much will be obtained later.

Think about your health, about how long you will take installments, usually the calculation is for years. Your health will affect the results obtained as benefits later. Instead, always be open about the health of you, your children and your family, so that your insurance agent can help optimally and provide you with insurance that is in line with your medical history and your family's.

Apart from health, also think about age, because the older you get, the more things you need to fix in terms of health. Age also affects the value of investment & protection, with the suspicion that the older you are, the more susceptible you are to illness.

Determine the exact purpose of child education insurance, because for this type of modern insurance, as long as the premium you pay immediately takes two benefits between protection and investment value, choose production according to your wishes, want to get more results obtained, protection will decrease in value, and vice versa. You can also choose balanced, & this is also good, depending on the original purpose of buying education insurance for children.

Tell your main goal of buying education insurance to your insurance agent, because being an agent will provide a large protection value with a reduced investment value with the aim of providing maximum protection from the company.

If possible, ask your child about his goals, so there is an approximate picture of the total costs that will be incurred later while your child goes to school or college in the best and most expensive place. Think of the max price just in case the payoff is sufficient. (This is if you take out insurance with taking benefits at the same time at the age of a college student).

Choose the right insurance. For example, you will receive benefits when your child enters elementary, junior high, high school, and college with dichotomy results based on how many you want to take advantage of, of course. or you have other assumptions that going to elementary, junior high, high school can still be affordable with your monthly results, even though entering the best universities is expensive, so choose what can be taken at the same time to help your finances at that time. Both of these options are exactly the same, you just have to choose which arrangement is best for your child's education insurance because these two arrangements are owned by different insurance companies and on a different basis.

If you are an economic observer or at least understand the economy, then think about inflation too, because it could be that the value of the rupiah shown in the results turns out to be high at the moment but in the future it cannot be interpreted so much because of the decline in the value of the rupiah. even though school fees are increasing day by day. just as a comparison, Indonesia's inflation from 2007 to 2012 reached around 12%, a quite high figure, of course.

As an addition, because the premium you pay will be managed by the company while various forms of nationality are your wish, then choose the premium you pay that the company wants to manage as long as the business unit is what it is, for example for stocks, bonds, gold, or the type of business unit as the best way so you avoid losses in the future. Ask this to your insurance agent so that you can find out more about money management by the company where you buy education insurance or other types of insurance. Accept affection.

Updates. Common mistakes when buying insurance are usually made by parents. Putting the child's name as the insured during the Education Insurance policy. This can have fatal consequences for your financial plan. The name of the insured while on a heroism insurance policy should be the name of the parents as the main breadwinner. so in the event of death, children like heirs can receive the benefits of the sum insured from the insurance policy.

Not paying attention to the target of education funds. When buying Education Insurance, parents very often only pay attention to the amount of premium paid and then forget about the main goal, which is to be able to get a sufficient amount of money when their child enters education.

Choosing the cheapest premium for the reason "the most important thing is that the child is insured", keep in mind, insurance is not for fun or prestige but rather for necessity, rather than wasting money with inadequate results, it's better not to buy insurance.

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