Endowment policies – financial security of a child

Posted: September 9th, 2013 | Author: | Money

As a parent, our job is to prepare a child for life. In addition to education and training, we must also ensure some money. If you want your child to have an easy start, you should think in advance and invest in endowment policy.

tarotastic / photo on flickr

tarotastic / photo on flickr

Endowment policies can be started when a child is already in preschool or even earlier. The earlier you think about it, the less you will have to pay a month for the same amount of insurance, it is worth to make a decision in advance. The policy is paid to the child at the time when he or she reaches a certain age. During those years you can earn a specific amount that can be spent on whatever your young one needs to. They may want to start college, own company or buy a furniture to a new apartment. It is well known that at the stage of starting adult life, we need a lot of money.

In addition to a good start, dowry policy also protects the child against the death of parents giving him just in that case a pension and assuring the payment of premiums until the policy end. Endowment policies are not expensive and are certainly worthy of attention. Best to choose is a policy with shortest time of contribution, and the pretty big amount of coverage. A common practice is to secure the child with two policies of this type, one from each parent. Although of course the number can be greater.

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