As much as having a kid is one of the greatest joys of living, the costs of taking your child through school without an education policy in Kenya may sometimes be quite crippling. Parents nowadays want only what is best for their children, this especially applies to their education. As much as it may sound as a cliché, education is the foundation for a better life. One of the best ways of ensuring that your child gets the best education is through education policy. Education policy has the best interest for your child in mind. The benefits of having an education policy in Kenya are numerous but most of us seem to be in the dark about them, these are some of the benefits of having the insurance policy.
Guarantee to better education
The world that we live in is full of perils that we may encounter in our everyday living. When you take an education policy in Kenya for your child, you will be able to keep all these perils at bay while ensuring that your child gets the best education. The education policy will serve as an investment as well as a cover for your child. In the event of an untimely death, the money that you will have accumulated will cover their education expenses. When you combine your policy with an investment plan, you will be able to cater for your financial needs as well.
It helps to build a thrift habit
With an education policy in Kenya, you are bound by contract to contribute a given amount of money each month over a considerably longer period of time in the country. When you regularly contribute to the insurance cover, you can build a habit of saving over long terms. With long term savings, you will be able to meet the financial needs as they arise.
The education policy in Kenya is a safe and profitable investment for the long term. Insurance is one of the most highly regulated sectors in the country. This ensures that the money that you contribute towards your Childs education is kept safe and will be invested profitably. All investment decisions made by the insurance companies are usually for longer periods of time and there will never be short term gains made from highly risky decisions.
Acts as security for loans
Policyholders with education policy in Kenya have the option of taking loans against their policies. The loans taken will be beneficial in helping you meet any unplanned financial obligations that may arise without negatively affecting the education cover. The education policy in Kenya also gives you tax-free insurance rates both at the time of entry and exit. With an education cover, the insurance may act s an effective tool that will cover mortgages taken by the policyholders in case of default of payment the burden of repayment will fall on the insurance company.
The education policy in Kenya will not only give your child a secure future with protection on their education but will also provide you with an opportunity to meet any unforeseen financial obligations that may arise.