Since the launch of insurance is called the Unit-Linked or UnitLink, many insurance companies and insurance agents who offer their products very aggressively. One of the flagship product of this insurance which is then combined or packaged into Education Insurance Products.
This type of insurance is actually only began in Indonesia in the late 1990s and early 2000s. If the view of its character, an insurance policy or a specific life insurance is a contract to protect the risk (risk of death in life insurance) that can be calculated economic value.
Meanwhile, a unit-linked products are then sold into Education Insurance Products. Insurance is not a pure product. This insurance contains elements of an investment where the investment in these conditions is much higher usability than the insurance needs.
Personally and from my knowledge of financial planners always recommend to separate between insurance and investment products.
First find where the child later will be sent to school. Then calculate how much the cost of education is these days. By using the method of Time Value of Money (Money Value of Time), calculate the funding requirements will be the future in accordance with the stage when the child enters school wanted to be financed by the mother and family. Many people are wrong in interpreting and performing this calculation. One of my statement is very surprising and many of the quotes in several print and online (please research on the internet) is, at a cost of four years of college education at the University of average standard or Economy FISIP faculty currently at Rp. 70 million then with 10% inflation, in 15-16 years time again that cost will be Rp. 400 million.
Imagine how high. The calculation uses only an increase of 10%. As we all know that the average inflation in Indonesia over the last 15 years is 12% -15%. While the increase in real tuition fees higher than this can range between 20% -25%. It is conceivable that the mother will require billions of rupiah funds to send the child's mother later lecture.
Then calculate how much premium you pay and compare it with the value of an education savings that can be withdrawn when the withdrawal comes. From there it can be seen whether that will be given sufficient funds to meet the needs of children's school fees. Caution and should always keep in mind that usually insurance companies provide illustration of the value of investments can be withdrawn (distributed) in net present value.
Another thing to also consider is how flexible the cash value or stages of education funds can be withdrawn. Many of the stages of education costs can not be withdrawn except in the years that have ditentuk. As with the more rapid increase in nutrition and our children go to school then there is the possibility of these funds can not be withdrawn prematurely.
It is advisable to calculate carefully, make comparisons, ask for advice or recommendations of the Financial Planning (Financial Planner / Advisor) who are experienced and understand the product before deciding to purchase an Education Insurance Products
This type of insurance is actually only began in Indonesia in the late 1990s and early 2000s. If the view of its character, an insurance policy or a specific life insurance is a contract to protect the risk (risk of death in life insurance) that can be calculated economic value.
Meanwhile, a unit-linked products are then sold into Education Insurance Products. Insurance is not a pure product. This insurance contains elements of an investment where the investment in these conditions is much higher usability than the insurance needs.
Personally and from my knowledge of financial planners always recommend to separate between insurance and investment products.
First find where the child later will be sent to school. Then calculate how much the cost of education is these days. By using the method of Time Value of Money (Money Value of Time), calculate the funding requirements will be the future in accordance with the stage when the child enters school wanted to be financed by the mother and family. Many people are wrong in interpreting and performing this calculation. One of my statement is very surprising and many of the quotes in several print and online (please research on the internet) is, at a cost of four years of college education at the University of average standard or Economy FISIP faculty currently at Rp. 70 million then with 10% inflation, in 15-16 years time again that cost will be Rp. 400 million.
Imagine how high. The calculation uses only an increase of 10%. As we all know that the average inflation in Indonesia over the last 15 years is 12% -15%. While the increase in real tuition fees higher than this can range between 20% -25%. It is conceivable that the mother will require billions of rupiah funds to send the child's mother later lecture.
Then calculate how much premium you pay and compare it with the value of an education savings that can be withdrawn when the withdrawal comes. From there it can be seen whether that will be given sufficient funds to meet the needs of children's school fees. Caution and should always keep in mind that usually insurance companies provide illustration of the value of investments can be withdrawn (distributed) in net present value.
Another thing to also consider is how flexible the cash value or stages of education funds can be withdrawn. Many of the stages of education costs can not be withdrawn except in the years that have ditentuk. As with the more rapid increase in nutrition and our children go to school then there is the possibility of these funds can not be withdrawn prematurely.
It is advisable to calculate carefully, make comparisons, ask for advice or recommendations of the Financial Planning (Financial Planner / Advisor) who are experienced and understand the product before deciding to purchase an Education Insurance Products
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