This post is brought to you by Manulife.
Right now, we don't have an education plan for the boys. What we have instead are investment plans for them. We can use those policies for college, or for their graduation gift, or if they want to travel, or if they get married. Quite flexible!
But we feel the need to get more policies since what we've invested, once they mature 20 years from now, well, let's face it—what we have invested will most probably just pay for one year's tuition fee. Or a semester!!! Yikes! So when Manulife told us about their Education Builder, I got interested. Let me tell you about it and then share with me if this is something you'd get for your own kids, okay, mommies?
Annual Education BenefitThe policy holder has the flexibility to choose the amount and duration of payment. This ensures that the amount provided by the plan is enough to address the education funding needed. This is turned-over once your children reach 18 years old.
Education RiderThrough the product’s Education Rider, Manulife Education Builder guarantees the Annual Education Benefit in the event of death and disability. This gives you peace of mind that the education of your children will not be compromised even if unfortunate events happen.
Total Disability WaiverIn the event of disability, the product continues to be in-force through the Total Disability Waiver Rider. A parent suffering from loss of financial security because of total disability can still continue with the fund and allow it to accumulate in value. You can plan for this to be a graduation or start–up fund when your child finishes school. It can also be used for other financial needs.
I like that this plan is flexible. My husband Vince and I like to think that we'll be so wildly successful that we can fund the kids' education anyway, and that we won't need to touch the kids' investment plans. We want them to have those investments for them to enjoy after college or if they want to start a business. It's nice if we can just turn over their policies and what they've earned to the boys when they're maybe 25 years old and say, "Have fun!" instead of "Please study well!" Hehe. Of course, if that's not what happens, then it's great that we have their education covered as early as now, while they're still babies.
How about you, mommies? Do you have education plans for your kids or did you get flexible investment plans? What did you consider before choosing the policies?
To know more about the Manulife Education Builder, visit their website. You can also call (02) 884-7000. You can also like their Facebook page.
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