Education Policy

Child's education policy

A child’s education policy is a financial product designed to help parents save for their child’s future education expenses. It is typically offered by insurance companies or financial institutions and combines savings, investment, and/or insurance benefits.

Key Features of a Child’s Education Policy:

1. Financial Security: Provides a lump sum amount at key stages of the child’s education, such as starting college or university.

2. Insurance Cover: Includes life insurance, ensuring the child’s education is financially secured even if the parent or policyholder passes away.

3. Regular Savings: Encourages disciplined saving by requiring regular premium payments.

4. Partial Withdrawals: Some plans allow partial withdrawals at predefined milestones to meet education-related needs.

5. Tax Benefits: Premiums paid and payouts received often qualify for tax relief of 15%