It’s back to school again.
As a mother I’m quietly doing the happy dance. Yay! Kids are back in school. I get to pack their lunches again. We will be back to a more productive routine. Kids will be in bed early, they will be off to school early, and I will have more time to write in a quiet house.
Back to School means preparing the kids physically, emotionally, and mentally. As parents, we have to prepare financially for our children’s future to offer them the best options in their education.
The teacher in me wants to organize their bags. I want to put everything neatly in little ziploc bags and label it with my labeler. I want to cover their books and their notebooks with name tags that include their middle initials and their sections. I look forward to shiny black shoes, freshly ironed uniforms and crisp clean haircuts.
Admittedly, after I got off of Skype, this morning, with my BFF, Fayth, a little part of me panicked. Fayth’s daughter, Jordan is in her senior year of high school. SHE is in a panic about visiting schools, checking out the facilities and find a school that fits Jordan’s needs, and her budget.
WHY DID I PANIC?
Well, Gia is in her second year of high school. That means by next year we should be narrowing down where Gia would like to attend college based on her desire to become a developmental pediatrician. OH MY! I am SO NOT ready for this. My friend Patty just sent her big girl off to college this year, and through our conversations, I know it’s not just a big adjustment for big girl, but for Mommy (and Daddy) as well.
Of course the biggest adjustment for me, would be not having Gia home all the time…but aside from that, I know there will be many more expenses to account for with a child attending university, especially if that child wants to become a doctor.
Rising costs in education, here in the Philippines (and even in the US) is frightening. While we have set aside a small amount of money for Gia for when she goes to college, I know that what we set aside certainly will not cover all the projected costs of seeking a degree in medicine.
We all know how important education is to our children’s future. You don’t have to be a teacher to understand the opportunities your child will be provided with a college education or even more so, an advanced degree. I have often said that education is the only way for us to shape the future and create change. This much I know to be true…no matter what country we live in. Education is the key to change.
This doesn’t mean, however, that I need to be in the same frightening boat for the boys (and Gelli) when it comes to their college educations. With the help of Insular Life, I can look into different ways of saving and preparing for that time when it comes.
Nino’s friend Oliver, has helped us prepare for plans which will assist us in saving and putting aside the money for the kids’ education. We have met with him a few times and he has been able to put something in motion for our family that works.
Who are these plans perfect for?
- New Parents
- Parents of kids who are pre-school or elementary school
- Parents who already have fixed education plans set, but based on the previous 10 year requirement and not the new K-12 adjustment.
Why would you want to put your savings into products like these?
- DISCIPLINED SAVINGS-Planning for your child’s future can be done systematically. You can pay into your plan annually, semi-annually, quarterly, or monthly, depending on your preference. With someone like Oliver managing the funds for the kids, it’s easy to figure out how much to set aside with the plan that we put in motion. We don’t have to worry about it anymore.
- FLEXIBILITY-The investment you choose to make can easily adjust to your financial needs, allowing you to save for several years of schooling depending on what you require. Whether it’s for high school, college, or post graduate degrees, these education packages can be designed accordingly. You can also withdraw funds according to your child’s enrollment period. You decide with your Insular representative, exactly what works for you. It’s a plan that can be taylor fit for what you need, based on when you will need it.
- FUND GROWTH-This plan gives you the opportunity to gain better yields, depending on your risk appetite. Choose to invest your money in the steady performance of fixed income assets or opt to maximize your returns by placing your money in equities. A mix of these two is also an alternative. Again, deciding what we were comfortable with, was easy to do with guidance from Oliver.
- CONTINUING EDUCATION-Insular Life’s education packages provide a death benefit equal to the sum insured plus the fund value. The sum insured is at least 500% of your annual premium. This provides the assurance that whatever happens to you, your child’s education can be provided for, regardless of market performance. This is where that saying comes into play? “Pray for the best, and prepare for the worst.”
Of course, with these plans, Insular can provide help to parents who want to be K-12 ready. But the scope goes beyond that. You can ultimately choose to use the savings for anything your child needs. While I have the hope that my kids will all study beyond the bachelor’s degree that I received, that might not be the need for everyone who chooses to invest. With the flexibility of the products offered, your child can have a sizable nest egg if you opt not to use the funds right away. When Nino and I met with Oliver, he also explained that Gelli can use the money that we will save for herself and other expenses. I suppose that was what sold us on the policies. We know that the future is uncertain, but by setting aside a little bit today with a disciplined program we don’t have to worry about the education of our kids later on.
If you are interested in learning more about the different ways to prepare for your child’s education you can visit Insular Life’s Facebook Page, website, or Twitter account.
——————————————————————————————————————————
It’s easy for me to share my experiences regarding Insular Life, because I believe that they are a reliable company. This is why it was just as easy to put together a plan for our family when we met with Nino’s friend, Oliver. Thank you Insular for making it so easy to put a solid plan in action for our family, and thank you for sponsoring this post.
