Kids insurance -education plans

[matrix0405]

micollh:

i bought Pay my Uni for my two kids too when they were born(kiasu mah).. the sum is guaranteed. but 30k is not enough, after factor in the inflation. even for local U u need more. the premium is just as assistance for their tertiary education, if they decide to go overseas. the 30k may just cover 1 year fees.

30K shd be enough. Ask your kids to take interest-free study loans which allow them to pay-off when they started working. Insurance company are profit making companies, they like to ask you to buy more and more of their products. The more you buy the more they earn from you.

[micollh]

matrix0405:

micollh:

i bought Pay my Uni for my two kids too when they were born(kiasu mah).. the sum is guaranteed. but 30k is not enough, after factor in the inflation. even for local U u need more. the premium is just as assistance for their tertiary education, if they decide to go overseas. the 30k may just cover 1 year fees.

30K shd be enough. Ask your kids to take interest-free study loans which allow them to pay-off when they started working. Insurance company are profit making companies, they like to ask you to buy more and more of their products. The more you buy the more they earn from you.

i paid my study loan myself (my aunt paid upfront, so interest free), after i started working, i paid her monthly, which reduce my savings. my hubby tertiary fees are paid by his parents, so he no need to pay back. and he save more. thus, we decided to help our kids to pay their education fees until tertiary, we do not want them to go thru wat i went thru. insurance company, depends on what policy u buy, such endowment and savinsg plan benefits parents.. and it discipline us to save. my opinion.

there are many ways to save and for our kids to pay their study loan, to each its own. so long parents find a comfortable means to assist them.

[eurostar]

private hospitalisation plan is a MUST

next is term insurance
limited premium also can sondier if u have spare cash…treat it as a gift to ur kids…i bought 1 for my boy ,think pay 15 yr cover for rest of his life
endownment …have reservation…really pathetic as compare to 20 yrs back…agent always show us the projected column…but of cos can treat it as "force-saving"

[micollh]

eurostar:

private hospitalisation plan is a MUST

next is term insurance
limited premium also can sondier if u have spare cash...treat it as a gift to ur kids...i bought 1 for my boy ,think pay 15 yr cover for rest of his life
endownment ...have reservation...really pathetic as compare to 20 yrs back....agent always show us the projected column.......but of cos can treat it as \"force-saving\"

yes ntuc income has this type. last time call limited living , now is revosave. agree, it's like saving for our kids.

[eurostar]

micollh:

yes ntuc income has this type. last time call limited living , now is revosave. agree, it's like saving for our kids.

I guess just a name ..end of day is all insurer \"playing wif figures\"
actually NTUC LUV insurance is bang for bucks but max can buy 200k only ...but this is group insurance + u need to be a ntuc member

[micollh]

dunno abt NTUC LUV… let me check out. hee

[eurostar]

micollh:

dunno abt NTUC LUV.. let me check out. hee

can check over http://www.income.com.sg/insurance/luv/index.asp

[kiasubox]

Would like to get some info here.

How much premium (monthly, yearly, quarterly?) do you pay for your child’s education insurance?
From which insurance agency?
What is the coverage?
How long is the tenure?

I’m looking into buying the insurance for my kids, hope to hear some advice from forumers here.

[tankee]

Mod's Note


hi kiasubox

I have merged your thread here. You may be able to find the information you seek in this thread.

[micollh]

kiasubox:

Would like to get some info here.

How much premium (monthly, yearly, quarterly?) do you pay for your child's education insurance?
From which insurance agency?
What is the coverage?
How long is the tenure?

I'm looking into buying the insurance for my kids, hope to hear some advice from forumers here.

paying yearly is better as it'll be cheaper.. im paying 4k plus for each kid each year, it's term policy, i choose for 15 years payment.. boys will be longer as they need to fo NS.

i bought from ntuc income. it's pay your uni & resosave . this is just for their education. but it'll help us when they need for education, if DH and myself are still able to pay when times come, they can take the money out for their savings..