Select Insurance Savings Education or Education?

You and your wife are a young couple, only 1 million a month income, and just having a child are 1.5 - 2 years. Well, where should you choose, insurance or savings? If possible can only be saved, how much money should you set aside each month?

Actually, just the same, Insurance education or education savings to have the same characteristics, In addition to its investment decision can be customized with your child's school schedule, they both provide protection functions. That is, the availability of funding your children's education will remain secure despite the risk of death to happen to you.

In particular, education insurance is insurance that offers two usability (endowment) the function of protection and investment, so Protective functions will bear the risk of death over you, by promising a certain amount of money if you experience death. It's just a given sum assured is usually adjusted for the cost of your child's education and have been agreed in the policy.

As an investment, this insurance will manage and invest part of premium you pay. Instead of managing your money, the insurance company will provide a large number of funds have been agreed in the policy. When payment was already scheduled, it is time to match your child's school.

Meanwhile, education savings accounts are savings products from the bank. This product has characteristics similar to insurance education. With this type of savings account, you will save a certain amount of money regularly.

The amount of monthly saving were calculated from the education fund that will target you take, the future, and to ensure the availability of educational funds, the bank has worked with several insurance companies that will guarantee your deposit despite the risk of death.

Instead, the money you'll need to set aside a monthly savings associated with the size of your needs in the future. To fund your children's education, for example, you must first calculate the amount of funds you need, and time of use.

After that, calculate the amount of money should you tube. While for its reserve fund, you also have to prepare another savings account until the amount with multiples approximately between 5 to 15 times your salary.

Presumably, not ban them to save for a young couple on low incomes. However we recommend you do not need too much force my-self to have as soon as funds for education and fund reserves. Make your money-management perspective. As a result, set aside money by saving money can still be achieved without sacrificing other interests at this time.