When deciding to buy this type of education insurance for children , parents often do not carefully consider the amount of funds that will be received from the insurance company in covering their children's education costs later.
As much as possible, try to ensure that the amount of funds from insurance cover your child's education costs, especially in the event of a claim. Even if the amount is less, try not to add too much later. This of course aims to optimize the best insurance benefits that you want to follow.
Here's how to calculate education funds for children:
- First, know how much the current education costs are according to the stages of education that will be passed. If your child is currently a toddler, you need to find out how much the current education costs for kindergarten, elementary, junior high, high school, and college.
- Calculate how much time is left to prepare education funds for your child to reach that level of education. For example, your child is only 1 year old. So, you still have about 3 years to prepare the costs for kindergarten; 6 years for elementary school; 12 years for junior high school; 15 years for high school; and 18 years for College.
- Estimate carefully how much your child's education will cost in the future. Assuming an increase in education costs of 10 percent / year, this is considering the average increase in the cost of education in Indonesia is around 10% per year. Repeat this calculation for other levels of education.
- Ask the insurance agent for an illustration from the education insurance company you choose, so you can find out how much insurance premium should be paid so that your child can continue his education at school with the quality you want and get optimal benefits.
Hopefully the article on Tips for Calculating Education Insurance Premiums is useful for all of you, to find out how important education insurance is for your child, please read the article Importance of Education Insurance for Children .