Secure Your Childs Future By Investing In An Education Plan
We live in such an age where everything is based upon technology and the world has become a global village. Education is mandatory to communicate with people around you and to exchange information and it also plays a pivotal role in the progress of technology.
Parents also wish to see their children grow up and become educated, learned and respected individuals of the society because not only it brings them respect, joy and pride but it also makes sure that their offspring can support them in the future when their age will not let them work anymore.
Hence parents try hard to provide their children with the best possible education. Also our religion Islam puts an obligation on all muslims to get themselves educated and the priority of education is so high that the Holy Quran as well some of the Hadith have regular mentions of it.Having put the focus on the importance of education, it’s also equally important to mention that in our country lack of good quality education prevails due to a lot of factors such as education being expensive itself and government schools and colleges being of no use, the fees increasing day by day, rising household expenses including the ever-increasing utility bills and inflation, lack of proper hygiene and medical services etc.
All these factors make it really difficult for parents to make their child get the best possible education as even after trying so hard they cannot save up enough for a good quality high education within Pakistan or abroad. There are also unexpected happenings that can hamper the education of your child such as death, accidents, marriages etc that put a nerve wracking burden on parents so much so that educational needs sometimes don’t get the same level of priority that they should.
Also if you add up the total of education expenses from kindergarten till graduation, it comes up too high that it gets difficult for a single person to support the whole household as well as the child’s education. And the matter only gets worse if you have more than one offspring which is extremely common in most families.
Adding to the injury is the fact that Pakistan is not a welfare state as opposed to the UK and EU where education is highly subsidized and students can get loans easily as well as the fact that higher education has become free in European countries.Fortunately, there is a solution, it’s called as an education plan, most insurance companies are providing this service some of which are EFU Education Plan, IGI Savings Plan for College Education, Adamjee Taleem, Jubilee EDUSmart and State Life Child Education Plan.
This is like a saving plan that can start early on in your child’s life and mature up at the point when he/she needs to get admission in a good university or pay for tuition abroad.
Thus it can save the unexpected burden of high fees if you invest in this long term saving plan. A small amount keeps adding upto your child’s education plan. How this works is that you invest an initial amount which the insurance company will invest on your behalf and then a steady revenue of a pre-determined percentage would keep on adding to your initial investment which will be paid to you at the time when your policy matures.
The initial amount can be boosted as well. We have explained more of the benefits of investing into such plans into this concise article here which would certainly help you in understanding what these plans offer and how they can benefit you and your child in the long term.
Ultimately this will bring you peace of mind that when you reach your old age you will not have to worry about your children’s future as they will have a fund ready to compensate for their educational needs and have them well versed as they step into the practical world to be your support!