Children's education is an important thing that must be prepared by parents as early as possible. The cost of education every year always rises with an average inflation of educational costs around 15 percent per year.
Therefore, parents need to choose the right financial product so that in time the child enters school will have enough money to pay for it.
One financial product that can be chosen is education insurance. However, before buying an education insurance policy, it's good to know a few of these points first.
Determine the child's education plan
Before being tempted by offers and the lure of educational insurance agents, parents should make plans in advance for children's education.
This planning is very important because it can be a guide in choosing the right education insurance. First of all, make a plan how high levels of education you want to be prepared for children.
Decide where your child will go to school. Make plans as detailed as possible by including the name of the school and the year the plan will be to school because it is related to the cost of education needed.
Parents also need to know the profile of the school they are going to in when making plans by asking the closest relatives or other parents who have put their children in the school.
In making a plan, it is also a good idea to go to the intended school to get clearer information. And what should not be forgotten is the identification of children's talents and interests so that school selection can be in accordance with the wishes of the child.
Make a small research about the cost of education
Parents also need to find out the current education costs to estimate the amount of education costs when the child enters school age later. Find out information on fees at the school to be addressed from the initial entry to graduation which includes entry fees, monthly fees, annual fees, extracurricular fees, and other fees.
These details can also provide an overview of the amount of costs required so parents can choose the appropriate education insurance products and can guarantee the availability of children's education costs.
Learn the pluses of minus education insurance companies
Every insurance product offered by an insurance company must have its own advantages and disadvantages. In determining the right insurance company, you can pay attention to the company's financial strength through assets and liabilities and the quality of its workforce.
The financial condition of an insurance company can be seen from its balance sheet reports that are submitted to the public transparently.
In addition, choose an insurance company that has a positive and trusted track record. You can also ask for an explanation from the insurance agent and don't forget to ask everything you want to know clearly, especially related to the products offered so you can understand clearly.
Information or input from people who already have education insurance at the intended insurance company is also very necessary so that it can be a lesson for the future.
Look for one that suits your child's financial condition and educational plan
Children's education plans that have been made will be very helpful in determining appropriate insurance. Understand all information obtained from agents or from other parties.
In choosing education insurance, adjust the education plan and the insurance program provided.
You also need to adjust to financial conditions by measuring the amount of funds available that can be set aside to buy insurance premiums.
Look for a flexible policy
Insurance is not like saving money in general at a bank whose funds can be withdrawn anytime when needed. Insurance, especially for education, is a long-term investment where funds can only be taken after the child reaches a certain age according to the agreement in the premium, or is ready to enter school to the specified education level.
Usually the education system and curriculum in Indonesia often changes so that it affects the cost of education. Therefore, you should choose a policy that is flexible and profitable that can be claimed at any time to finance the educational needs of children.
Make an appropriate education fee calculation so that at the time of disbursement of insurance claims there will be no shortage of tuition fees.
In addition, it is also a good idea to choose a policy that can change currency if you plan to send your child to study abroad.
Then, you also need to pay attention to what facilities are offered by an education insurance product such as additional health insurance facilities that can guarantee the health costs of children registered at
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