In the past, parents buy an education or foundation policy to save for their child. These are endowment plans, that give a fairly attractive return on maturity.
In recent years, more parents are taking an Ideal plan to save for their child. The proportion of parents buying the Ideal plan has now reached 20%, which is more than 3 times of the proportion two years ago.
I expect the proportion to increase over the next two years, as more parents become aware about this option.
The Ideal plan has the following advantages:
- potential of earning a better return
- more flexibility in the savings and the maturity date
- lower charges, giving a better return to the parent.
Our Ideal plan is much better than the education savings plan offered by other insurance companies (that pays high commission to their agents).
I advice parents to approach our insurance advisers or consultants (at our business center) to ask about the "Ideal plan for your Child".
You can also read the FAQ at
http://www.income.coop/insurance/ideal/faq-4child.asp
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