Child Higher Education
Higher education for children is a prospect perhaps all those with children think about quite very often. A good education for a child is necessary for their growth and how they lead their life, and most importantly how secure their future is. An education of choice in terms of higher studies gives a huge head start to a child’s career as well as life. A good higher education for a child is a parent’s responsibility.
What does higher education provide?
Higher education provides a gateway to a number of opportunities in the future. It is like a door opening to miscellaneous pathways and one can always raise his or her standards of living by studying higher and higher in life. Higher education equips a man with the specialized skills required to earn higher levels of efficiency at the workplace, gives an equal space in this competing world, improves skills, and provides scope for better serving our community and working towards its development.
Issues with Higher Education
Higher education is not all that easy as it seems. Right from financial constraints to lack of funds and scholarships at universities, problems are many. There are many universities and academic centres of excellence that support higher education facilities at their campuses. But, to provide the required infrastructure and research facilities for higher education, it needs an equal amount of investment in terms of time and money on the part of the college. Hence, higher education costs are usually exorbitant and unreachable to the common masses. A scholarship facility or a provision to avail study loans will definitely help in this matter.
Saving & Investment Tips for Child higher education.
“An investment today would save a mammoth expense in the future”
To accurately plan your child’s education expenses by planning and having a sound investment strategy for investing in your child’s education is extremely important.
Then you can invest in life insurance. Life Insurance is a long term vehicle that you can invest systematically. These investments will provide good returns over a sustained period of time. It also gives one opportunity to create risk-free wealth which will be tax-free. It also gives to tax benefit while you are contributing premium towards tax-free wealth. It caters to the creation of wealth and in case of unfortunate death; it creates wealth that never exists before and also income for the family. We make sure your child’s higher education will receive funding whether you are there or not.
Investing a portion of your savings in instruments like these will help meet the long term targets and are ideal for your child’s college education if you start investing systematically. However, if you are expecting a big expense your child is old enough to go to college, it becomes more crucial to invest in long term vehicles like Life insurance. Make your children financially aware and teach them the importance of limiting unnecessary expenses. Inculcating saving habits from a young age will go a long way in preparing them to achieve their dreams in life!
Apart from making your life secure, investment in child higher education has miscellaneous benefits as well.
● Early investment for the creation of wealth will make you secure from exposure from inflation in the future.
● Your child learns the value of investing early in his/her.
● Taking an education loan instead of investing in child higher education will burden your child with EMIs since the day they start earning, investment in higher education shield’s one from that.
A word of advice: Most people restrict themselves from being successful by thinking like “Whatever happens in the future, will be dealt with in the future.” Such a mentality restricts success and security in life. An investment in the future today would save huge burdens in the future.
For further details contact Mr. Vishesh Chaturvedi, Insurance adviser (MDRT) at 9820810175 or Email at visheshchaturvedi@lisolutions.in.