Building Your Child's University Fund The Easy Way Out

NTUC INCOME has just launched a new education policy called “Pay My ‘Uni’” in place of the old Child Education Policy.

What makes this plan unique is that the payouts can be spread over the duration of the tertiary education – covering yearly fees and expenses.

The payouts are available in 3 convenient parts. The steady stream of funds can coincide with the years of study to cover ongoing school fees and other expenses :

* 2 years before maturity of policy: > 40% of sum assured

* 1 year before maturity of policy : > 40% of sum assured

* Upon maturity of policy : > 20% of sum assured(plus
accumulated bonuses).

To meet the needs of unforeseen circumstances, the plan also offers the following covers :-

** Waiver of all future premiums in the event of death, or total and
permanent total disability of parent.

** Payment for each day of hospitalisation and medical leave
following discharge from hospital of child.

Payment of full sum assured plus accumulated bonus upon death, total and permanent total disability, or diagnosis of terminal illness of child

Parent also can enhance the protection further with a wide range of optional covers. For example, the Enhanced Income Benefit provides additional monthly allowance to the child in the event of death, total and permanent disability or diagnosis of dreaded diseases of the parent. The Child Plus covers child’s specific illnesses.

An another attractive feature is that upon maturity, your child can continue to enjoy the assurance without hassle - your child can purchase another whole life or endowment policy with no underwriting. The sum assured can be up to 3 times the original sum assured.

You can choose the length of coverage (from 8 to 24 years) to coincide the maturity of the policy with the final year of university, so as to take advantage of lower monthly premium and higher yield.

It is important to maximise your child’s potential. PayMy‘Uni’ plan gives you a head start in planning for your child’s tertiary education.

So, start putting aside a regular amount monthly right away. You will see your savings grow to a significant amount to meet the rising cost of education in the years to come.

Click Here if you want to know what is the cost of a 4-year university study.

Do drop me a note or contact me if you want to know more about this plan.