Continuing Education
Congratulations! Your child is about to continue their education! What an exciting time for both of you! It is also a big responsibility. A child in university and buying a home are probably the biggest expenses you’ll ever have. Now that you have reached this milestone, the last thing you want is to place your child’s studies at risk should something unfortunate happen. Below are some things to consider.
Life insurance
Sending a child off to university is a magical moment, and often the reward of many years of saving and financial sacrifice. Now that you have reached this point, you will want to ensure that your child’s studies will not be in danger should you pass away unexpectedly. If you pass away, will your child be able to finish its studies? Unfortunately, in families without life insurance, it occurs all too often that a child is forced to quit school. Life insurance provides a benefit to cover your child’s studies, and additional benefits to cover funeral expenses, a mortgage, and other outstanding loans.
Healthcare insurance
Two things are important: your health and the health of your children. If you get ill, you want to be sure that your healthcare insurance will pay for your medical expenses. The last thing you want is for your child’s study allowance to be at risk! You also want to make sure your child is insured during his or her years at college. Some educational institutions require students to take out healthcare insurance.
ENNIA or your independent adviser would be pleased to provide you with personalized advice.