Five things you need to know about education insurance

These are key facts that probably not aware in insurance.

Education latches came to the country about 16 years ago and have some data and benefits that people are unaware and which are designed to meet the needs of families interested in investing in the education of their children or relatives.

These products help reach that careers such as architecture, which has a cost of $1540 per semester, in the most expensive University in the country can be solved in advance way and without having to buy any kind of financial institution debt.

An alternative to saving

Insurance to cover educational costs of the school or the University, help parents save and not to make last-minute payments representing a financial imbalance for the family. This means that you can arrive at the right time with a capital that covers totally or partially a student tuition for college or University.

These savings can also be complemented with plans that include coverage of life, personal accident and diseases of different types to make the investment more profitable.

Manage your time and choose their quotas

The timing is everything when you take the decision to acquire educational insurance, if done in advance, it is much more feasible and comfortable for family planning current and future finances properly.

Several of the companies that offer them have minimal time to begin saving, which can be, depending on the case, of the three to five years before the start of the disbursement of the money.

In addition, each family can choose the amount of monthly money who want to save for their children's education. This a great advantage of insurance educational since it allows quotas to conform to each applicant's ability and are also comfortable for the family economy.

Each company figures vary, but can range from 150 pesos monthly to the value that the family you want to save, but keep in mind that between higher share, you'll get one sum in the agreed period. However, so is unable to collect the full tuition at the time when the child begins their studies, yes you'll get an amount that will help pay for their education.

It applies to studies abroad

Many educational insurance in the country covers totally or partially the value of studies conducted outside the country, which nowadays extends the spectrum of options for a young man who wants to, for example, study medicine in places like Europe or the United States. It is important to clarify that beneficiaries may be both undergraduate studies as graduate in educational institutions as his favorite as well as will have the benefits of insurance that you choose.

Change of career or course programmes

Thanks to policies that offer education latches, can be solved this option as it is normal that young people are undecided about his professional future, so options who choose at the beginning can vary throughout their studies; but this should not become a problem or distress for parents because both child and family benefit, may change college career and even academic institution.

On the other hand, there are students who decide to study various academic programs at the same time, which is also viable with insurance policies that pay these programs exhausting six-month highs of university educational income in accordance with the agreed with the chosen insurance company.

Change of beneficiaries

This is a value option, since it should be able them to another person, that is not necessarily a son instead of beneficiary, insurance companies give the option to change it. For example, if you have registered a daughter as beneficiary, but she achieves a high academic level and got a scholarship, then is you can make the second child's education or also support education of nephews, or even the spouse.