Union Assurance Super Investor secures child’s higher education
Friday, 19 September 2014 00:58
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A child’s higher education is always at the top of any parent’s mind. In the recent past, this topic has received even more prominence than before in public discourse. One of the reasons for this could be the opening up of the higher education sector in Sri Lanka to private universities and higher education institutes.
While these changes to the system opened up unparalleled opportunities for students, it also created a stir in society. As a result of these changes, today parents have had to re-evaluate their ability to provide for the increasing costs of a good quality education for their children.
Today, higher education has become more competitive than ever. As mentioned earlier, it could be because the higher education sector has experienced exponential growth in a short time period, and as a result local students have access to education of the highest quality and best international standards.
Today, students have access to the same opportunities within Sri Lanka, which students from the past had to travel overseas for. As a result the competition for jobs has become fierce. Those with the highest qualifications are able to move to the top of the career ladders and all signs point to the fact that the top echelons of any sector will soon be filled with those with the best qualifications.
Sri Lankan parents are very aware of this impending situation. It is evident that they have started to take this situation very seriously. However, it isn’t easy to come up with a solution to this issue. Education is an excessively expensive endeavour. Therefore, it is difficult to conceive the possibility of providing your child with the highest possible level of education, without having a comprehensive plan in place. Coupled with the constantly rising cost of living, taking care of everyday requirements, while fulfilling the dream of educating your child has proven to be an incredible challenge for parents.
The solution that many parents opt for is to start putting aside as much as they can afford to each month and save up. However, as a result of certain shortcomings in savings accounts and other traditional mechanisms, it is not unusual to find parents who were unable to meet their goals despite their best efforts.
This issue has entered in to the social discourse surrounding higher education. Particularly in an age where expenses for healthcare, for instance, have considerably increased, it is a social responsibility to attempt to provide some level of reassurance to the minds of Sri Lankan parents.
Union Assurance decided to launch Union Super Investor, partly to provide some reassurance to the minds of Sri Lankan parents. With its decades of experiencing in being a partner in life for countless Sri Lankans, Union Assurance is prepared to provide a helping hand to parents who are looking to provide their children with a foundation for higher education.
The monthly instalments for this plan need only be paid for five years, while you can decide the policy term to be 10 and 30 years. By the time you are ready to reclaim your investment, on account of the yearly interest that would have been accumulated, you would have saved up enough to fund your children’s education, without having to feel the pinch.
In addition, in the event of an unforeseen misfortune such as a death, the beneficiaries of your Union Super Investor account will be paid the total balance in the account, thereby undoubtedly providing Sri Lankan parents with additional peace of mind.
