Education Insurance: Protection and Investment for Young Generation in Asia

Education Insurance: Protection and Investment for Young Generation in Asia
Education Insurance: Protection and Investment for Young Generation in Asia

Education is one of the important factors that determine a person’s future. However, the cost of education continues to increase from year to year, especially in developing countries in Asia.

According to data from UNESCO, the average cost of tertiary education in Asia reached US$3,600 per year in 2019, and is expected to continue to rise along with inflation and demand.

For the younger generation who want to continue their education to a higher level, both at home and abroad, of course this is a big challenge. Especially if unexpected things happen, such as a parent’s death or accident, critical illness, or natural disaster, which could hinder their educational plans.

To overcome these risks, young people in Asia need to consider education insurance as a solution. Education insurance is an insurance product that provides financial protection for students or their parents if unwanted things happen. In addition, education insurance also functions as a long-term investment that can be used to pay for future education costs.

Here are some of the benefits of education insurance for young people in Asia:

1. Provide financial protection guarantees in case of unexpected things.

Education insurance will pay cash to students or their parents in the event of a parent’s death or accident, critical illness, or natural disaster. This cash can be used to continue education or meet other needs.

2. Provide tuition assistance in accordance with the plan.

Education insurance will provide tuition assistance to students in accordance with the plan that has been agreed upon from the start.

This assistance can be in the form of cash, scholarships, or tuition subsidies. This assistance can be used to pay for education costs at home or abroad, both at the elementary, middle and high school levels.

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3. Provide attractive and flexible investment returns.

Education insurance is also an investment product that provides attractive and flexible returns. Students or their parents can choose the type of investment that suits their risk profile and goals, such as stocks, bonds, mutual funds or deposits.

In addition, they can also adjust the premium amount, payment period, and protection period according to their abilities and needs.

4. Provide tax incentives and premium discounts.

Education insurance also provides tax incentives and premium discounts for students or their parents. Several countries in Asia provide tax deduction facilities for parents who have education insurance for their children.

In addition, several insurance companies also provide premium discounts for students who have good academic or non-academic achievements.

Thus, education insurance is an insurance product that provides protection and investment for young people in Asia.

By having education insurance, the younger generation can plan their future in a better and calmer way.

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