The Best Tips For Choosing Education Insurance

Education insurance for children is one type of insurance that is able to provide protection for the future of children accompanied by investment. In addition to guaranteeing education for children, education insurance usually also offers life protection products for parents or breadwinners. In contrast to education savings, education insurance for children usually offers additional benefits, one of which is that the use of insurance funds can be done anytime during the dependent period. . So what are you waiting for? prepare a bright future for you and your family with child education insurance from AmMetLife Insurance. AmMetLife Life has a variety of other insurance products that suit your needs. That’s why we need to looking for child education insurance policy Malaysia.

Tips for Choosing Education Insurance

Now, after you understand the two types of education insurance, let’s look at some tips on how to choose education insurance:

1. Calculating the Cost of Education Required

Before starting to look for the appropriate education insurance, you must first determine the extent of the education costs needed. All aspects of costs should be taken into account, starting from registration fees or entry fees, monthly tuition fees, extracurricular fees, book fees, uniform fees, transportation fees, and others from entering school to graduation. For education costs that are sufficient in the future or whose duration is greater than 10 years, such as the cost of higher education, it is necessary to take into account the inflation that occurs so that the investment value that we are currently planning can offset the increase in the cost of education.

2. Evaluate With Your Financial Ability

After determining the education costs needed, you should also measure how much money you can comfortably set aside and what financial risks you will face when buying the insurance product. Education insurance is a type of long-term insurance, lest premium payments can interfere with the family’s financial condition and premium payments get stuck in the middle of the road.

3. Choose an Insurance Company Wisely

Next, choose an insurance company that has a good and reliable track record. Each insurance company has its own advantages and disadvantages. You can do a little research in comparing educational insurance products between insurance companies. Choose carefully and carefully so that there are no regrets in the future. Most importantly, choose an insurance company that has an agency certificate from the Indonesian Life Insurance Association (AAJI) and has been registered and supervised by the Financial Services Authority (OJK).

4. Review the Insurance Policy

After determining the insurance product you want to buy, it’s a good idea to re-check all the terms and conditions contained in the insurance policy. Understand all rights and obligations of consumers and insurance companies. Make sure the name of the insured, the amount of premium, sum assured, duration of insurance, insurance costs, investment instruments and other facilities are in accordance with what has been mutually agreed. In accordance with the Financial Services Authority Regulation Number 69/POJK.05/2016, insurance participants have the right to study the policy (cooling down period/freelook period), which is within a minimum period of 14 (fourteen) days after the policy is received.