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Education Savings PlanWe know that you often worry about being able to provide for your child’s education in the future. An endowment policy can make saving for your child’s education easy. Investing in this kind of policy allows you to create recurring or once-off contributions toward your child’s future.
Comparing returns and fees is very important to get the best value for money. More importantly, taking any step towards securing your child’s future is essential. We are here to help either way.
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Education Policy
Why Do You Need an Endowment Policy For Education?
We all know about inflation; the price of goods and services generally tends to increase. Education rises at a faster rate than everything else. You need a strategy to keep up with this. Saving won’t quite get you there, but investing will.
 Education Savings Plan
What You Should Know About an Endowment Policy
How Is It Different?
An endowment policy is an investment with all the life insurance policy advantages. While other kinds of an investment may offer significant benefits, none are as suitable for securing your child’s education. An endowment policy provides you the peace of mind to know that your investment will serve its intended purpose, even if things don’t go as planned.
How Would My Funds Be Invested?
Your financial adviser can link your endowment policy to investment funds they deem to be per your goals. These funds can be changed at any time of your choosing, subject to certain conditions. Endowment policies can be a fantastic, tax-efficient way to invest, build wealth and secure a future.
Is It Secure?
Your endowment policy will get treated as a trust after three years. Receive protection from creditors even if your circumstances should change—perfect protection from insolvency. You can use it as collateral against a loan from your bank. Use the correct vehicle for your intended purposes. We are here to help you set yours up today.
What About Beneficiaries?
Much unlike other types of investments, you can appoint beneficiaries on your endowment policy. This feature is one of the advantages of life insurance policy status. Other types of vehicles will cause your investment to fall to your estate in the event of your death, exposing it to creditors, executor’s fees, and taxes.
What Is the Minimum Age?
You take out an endowment policy for your child as soon as they are born. This can be highly advantageous as they would be shielded from your personal financial circumstances in the future. If your child is a minor, you do not need to worry about tax as this would be taken care of within the fund, leading to tax-free benefits.
How Is It Taxed?
Endowment policies get taxed at a flat rate of 30%. This kind of taxation means that high earners get to save on tax. The proceeds of an endowment policy are tax-free. An endowment policy is a perfect gift for your children or loved ones. We are here to help you create the ideal endowment policy to suit your needs.