Life Assurance Policy in Children Education Planning

When a child is born, the parents owe that child the responsibility of giving him/her basic,sound and qualitative education. The success of the child is the success and the pride of the parents. One of the key to success is sound and qualitative education. In the course of my research i discovered that parents do not always fancy sending their kids to public schools especially in developing and less developed countries. This as a result of the poor standard of teaching and management of the public school at all level. Also i discovered that the least paid primary school in Abuja, Nigeria goes for about #20,000.00 Naira/term (about $133.00), the least paid private secondary school in Abuja, Nigeria goes for about #60,000.00 Naira/term (about $400.00) and the least paid private University in Abuja, Nigeria goes for about #200,000.00 (about 1333.00) Naira/acedemic session

The amount of money which has to be paid for a period of 6 years in some school system may not be so easy for parents who did not plan very well for it. Even in public schools, school fees run into several thousand of naira which still need adequate planning to ensure availability of fund to pay for these fees when a child is due and ready to enter a particular level of education. The education of our children should not be based on the speculation of when the comes, there should be a way to settle the bills (school fees), our children education should be based on the certainty of making sure that there is something(a plan)on ground to take care of the school fees and up keep of our children whether we are there or not.

There are Life Assurance companies that has a plan that can guarantee a child's education at whatever level whether the parent is there or not. It is a plan that centers on what the parents want for a child, the type of school they want a child to attend and the fees obtainable in such schools. It is a plan that can guarantee the availability of fund whenever your child is ready to enter any level of education. What this means is that your children must go to school whether you are there or not. The agony of stopping a child from going to school due to the exit of a bread winner or sponsor has been taken care of. We believe that parents who have education policies for their children sleeps more soundly when they go to bed and even after there exit on this earth.

The Expectation of the children education policy money at maturity from my company will psychologically add more years to the life of the parents by giving them peace of mind and little worry over the children school fees. The parents have bought in installment the principal amount or capital he requires for a child's level of education which shall be delivered in lump sum at the maturity date of the policy. We all know that the prices of goods in the market and the amount of money we pay as school fees in schools cannot bend in our favor and there is no separate market/ school for the poor or orphans. Hence there is need for parents to plan effectively in order to protect themselves and their families in case of eventuality.
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