Best Education Insurance in Indonesia: How It Works
Learn how the best education insurance protects your child's schooling, when investment returns begin after 5 years and how monthly premiums work.
Article.id - Although the government offers a free education program, costs beyond the monthly fees are higher and keep rising every year. Not every school takes part in the government's free education program, either. That is why more parents are looking for the best education insurance for their children, so that the schooling of their little ones stays secure.
How do you find the best education insurance for your child?
When you join an education insurance program, you are told what you will get from the policy. The best education insurance protects your child's educational future if something unexpected happens. For example, if you, as the policyholder, pass away, your child, as the beneficiary, receives the coverage benefit together with the investment returns.
The best education insurance gives you a long-term investment. It is called long-term because you do not receive any investment returns in the first 5 (five) years. You can only collect returns after those first 5 years have passed.
If you decide to invest while your child is not yet in school, it is a good idea to invest through the best education insurance. Because education insurance is a long-term investment, you will have funds for your child's schooling when they enter kindergarten (TK), elementary school (SD), junior high (SMP), senior high (SMA), and even university. You can withdraw the policy funds when your child starts kindergarten, starts elementary school, and so on, until the insurance contract you agreed with the insurer ends. Premiums for this insurance can be paid monthly over the contract term, in the amount you agree on with the insurer.
The best education insurance is an insurance product combined with an investment, which you can use to prepare an education fund and, at the same time, as life protection for policyholders. If something happens to you or another policyholder, such as death or total disability, your child still receives the education fund that was set, plus reimbursement of hospital costs or a death benefit.
