Preparing for your kid’s education 10 years ahead

Lucy's Moving Up Day

As a responsible parent, I’ve always believed in preparing for the future. Over the years, I’ve made it a point to set aside a portion of my income for a variety of insurance products that will ensure my children have something to hang on to in case something untimely or unfortunate happens to me.

I do know of some people who don’t believe in insurance, but am the opposite. Insurance policies aren’t just good for preparing for the inevitable (like your mortality). You can get one for health, pension, retirement or purely for investment. I love that even if nothing bad happens to me, I can convert my policy into cash after 10, 20 or more years you and by then, my money would have multiplied by 10% or more depending on the condition of the market. There was even a time when short of funds, I took out a loan against my policy. It’s a win-win situation, in my own opinion.

Lately, I’ve trained my sights on plans that will ensure the education of our youngest child Lucia, who is only five years old. One of those we’re eyeing is the Education Builder being offered by Manulife Philippines. The concept is that your money is pooled in professionally-managed funds to make it grow.But what’s even better is that it’s bundled with a life insurance coverage. Not only will your child secure his or her education, they also get benefits in the event that the payor – in this case, the parent – dies or is disabled.

With the Manulife Education Builder, payout starts when the child reaches 18 years of age. The parents also decide whether the education fund is given annually for 4 or 5 years, depending on the course chosen.

Likewise, parents have the flexibility to choose the amount and duration of payment that will enable them to build enough funds to cover the cost of their child’s college education.

As a mom, the education of my kid will always be a priority. And being prepared is even more important now that the cost of going to school is rising every year. I only want my kids to go to the best schools, and this can only be done if we set a budget for it. I don’t mind foregoing the daily latte or dinner out if it means the money will be there for my children, whether I die or live.

To learn more about Manulife Education Builder, call Manulife Customer Care at (02) 884-7000 (for Metro Manila), or visit www.manulife.com.ph and their Facebook page. You may also contact a Manulife insurance advisor at any Manulife branch nationwide or e-mail phcustomercare@manulife.com.

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