Insurance object:
0 years old (a baby who was discharged from hospital after 28 days of birth) ~ 17 years old; Some insurance companies provide education fund insurance for children aged 30 days to 14.
Main categories:
As a special type of children's insurance, all insurance companies provide professional children's education insurance products.
Yes Education insurance can be divided into life insurance and non-life insurance according to the guarantee period of specific insurance products.
Among them, non-lifelong education insurance generally belongs to the real "special fund" education fund product. In other words, the return of insurance money depends entirely on the children's education stage. Usually, the funds will be returned every year at two important time nodes: children entering high school and entering university, and then the fees and account value will be returned in one lump sum at the stage of children's university graduation or entrepreneurship, so as 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.
Basic features:
1, special fund is special. A special account should be set up for children's education, just as a personal pension account is 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 when they reach 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.
3. No cost elasticity. The basic tuition fees at each stage are relatively fixed, and these fees are the same for each student.
4. The duration is long and the total cost is huge. The total expenditure on children's continuing education in the past 20 years may be more than the purchase expenditure.
5. Staged high expenditure. For example, college education, the average child is 20,000 per year and 80,000 in four years; The total cost of studying abroad is more than 6.5438+0.5 million yuan. These expenses have a short payment period and high payment cost, so it is necessary to make financial preparations in advance.
6, the extra cost gap is big, so we must be prepared. Children's qualifications are different, and the related expenses in the whole education process vary greatly. More preparation is better than less preparation.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.