The best inheritance you can leave your children is to invest in their education. Ensure that your children have access to a quality education It is a priority for many parents today, especially if you are good at planning and want to guarantee everything in case of an eventuality or a difficult financial situation.
Insuring your children's education with a life insurance policy will allow you to save and guarantee their education more effectively. Usually these types of policies offer investment options, which means that the amounts you invest can be used in different financial instruments to obtain better results.
A life insurance policy has multiple benefits and, therefore, today we want to share some of them with you so that you have greater clarity, plan financially and invest in the future of your children:
- Access to quality education for them.
- Helps reduce the financial burden during college years.
- It gives you peace of mind as a parent because you know that your education will be covered.
- Reduces the stress usually associated with financial planning.
- You could use the resources in emergencies if the policy allows partial withdrawals on the cash value.
Additionally, a life policy provides you with the accumulation of values at a competitive rate and higher than bank rates and is not subject to the volatility of the stock market, which allows you to pay the policy in a few years.
in BMI the options to take out a policy are many, but Universal Life and Indexed Life They are the most suitable if you want to guarantee family goals such as the education of your children. This type of policy allows you to index funds, which is one of the most used mechanisms to obtain additional income in the long term.
Planning is the key to a successful future
Let's imagine that Eduardo (fictitious name) of 40 years, has a son 3 years Andrew (also fictitious name) and you want to guarantee your son's university studies with a policy that has a value of around $100,000, to have access for five years to annual disbursements of 20.000 dollars when Andrés must enter the university.
Likewise, as a good father of a family, he also wants to guarantee the stability of his loved ones in the event of an unexpected event and projects coverage of 250.000, that is, insurance with a total amount of $350,000.
¿How much would you have to spend to reach that financial goal? Simple, he should pay annual premiums for 15 years $4,795 or be programmed to make monthly payments of $399, but if you do not want to opt for this modality, you can also do it on a quarterly or semi-annual basis. What best suits your budget and ability to pay.
The competitive advantage of this policy is that if the beneficiary turns out to be a good student and wins a scholarship, the policy will not be touched and values will continue to accumulate. Something totally different from educational plans that force you to use the money only for investment in education.
It is important to mention that at the Latin American level there is a perception that to generate this type of income you need to invest large amounts, that the time to enjoy the results is too long or that it is not available to everyone. However, you must be clear that time passes very quickly and by being proactive you can be guaranteeing your future and that of your children.
Remember, the key is planning and if you want to feel supported and have the peace of mind knowing that your assets and the future of your family are protected, our wide range of life insurance plans may be an option to help you. BMI offers multiple options that adapt to the needs and financial planning of each client.
