What are the education insurances?
As a special type of children's insurance, all insurance companies provide professional children's education insurance products. Education insurance can be divided into life insurance and non-life insurance according to the guarantee period of specific insurance products.
1 Non-lifelong education insurance generally belongs to the real "earmarked" education fund product, that is to say, the return of insurance money is completely determined by the child's education stage. Usually, every year, the funds will be returned at two important time nodes: children entering high school and entering university, and then a lump sum of fees and account value will be returned at the stage of children's college graduation or entrepreneurship to help children get a stable financial support at every important education stage.
Life-long children's education gold insurance usually takes into account the changes of a person's life and returns it every few years to show concern for their children's lives. Children can be used as education funds when they are young, and can be converted into pensions when they are old, sharing the long-term operating results of insurance companies and ensuring the inheritance of family wealth.
What are the basic characteristics of education grant?
1 earmarking: special accounts should be set up for children's education, just like personal pension accounts are used for retirement planning; The housing accumulation fund account is used in the housing purchase planning, and only in this way can it be used for special purposes.
2 There is no time flexibility: children will go to school at a certain age (for example, they will go to primary school at the age of 7, and they will go to college at the age of 18), and they cannot be postponed because of insufficient tuition fees.
There is no cost elasticity: the basic tuition fees at each stage are relatively fixed, and these fees are the same for every student.
4 The duration is long, and the total cost is huge: the total expenditure on continuing education for children in the past 20 years may be more than the purchase expenditure.
5 phased high expenditure: for example, university education, with an average of 20,000 per child per year and 80,000 in four years; The total cost of studying abroad is more than 300 thousand. These expenses have a short payment period and high payment cost, so it is necessary to make financial preparations in advance.
6 There is a big gap in extra expenses: children's qualifications are different, and the related expenses in the whole education process are very different. More preparation is better than less preparation.
In short, education fund insurance is generally guaranteed, but it is not suitable for all families to buy. Everyone needs to judge whether it is really necessary to buy education funds according to their actual needs and budgets, so as to avoid blindly following the trend.