Global Education Protector from Discovery
November 18, 2014
Secure your child’s future with the Global Education Protector.
There are many types of investments one makes in life. Perhaps you’ve already made some yourself – investing in real estate, stocks or even business ventures. But by far the most impactful, valuable and worthwhile investment you can ever make is in your child’s education.
Good education for your children is vital. That applies from pre-primary all the way through to primary school, high school and eventually university. You want to give your child the best education possible. Because education provides them the very best foundation for a rewarding, successful future.
Putting a price on education
We would all love to send our children to the most exclusive schools in the country. However, price is often an important consideration. That applies not just to tuition or school fees, but books, uniforms, clubs, tutoring and various other associated costs.
If your child decides to study overseas after high school, you can add plenty of items. These include travel, accommodation, visa costs and hefty tuition fees to the list as well. The fact is that education is pricey. And if you factor in an international qualification, the expenses begin to rise even more.
Let’s say for instance that your child wants to work towards a university degree after high school. Let’s say they want to study for a Bachelor of Arts (BA), one of the more affordable degrees. Their first year of education at a South African university would cost approximately R40 000. Books can cost up to R5 500, while student housing can set you back over R50 000. That depends on the institution your child chooses.
If, however, your child wants to study a course not offered locally, there will be many costs involved. Here is what one year of BA studies would cost at a university in Australia, Britain and the United States:
*This is the amount of money your child will need to prove that they have in order to be awarded a visa to study in the country of their choice. They will not be able to obtain a visa without this proof.
As you can see, if your child decides that their future lies beyond South Africa’s borders, it’s one you’re going to have to consider thoroughly.
Planning for your child’s future
Many parents try and offset education expenses like these through careful planning, using dedicated savings accounts and various cost-cutting methods to help empower their children with the best education possible. Planning is always crucial when working towards a goal, and is a necessary step along the road to success.
But have you planned for every eventuality when considering how to pay for your child’s education? Yes, you may know where your child’s school or university fees are coming from now – but do you know how those fees would be paid if you became too ill to work anymore, or underwent a life-changing event like disability or even death? Would your child’s future be assured, or would they suffer as a result?
Secure your child’s future with the Global Education Protector
Discovery Life has the answer to these questions – the Global Education Protector. With the Global Education Protector, your child’s tuition costs may be covered both locally and internationally, should you ever suffer a life-changing event, such as severe illness, disability or death. Once you make a claim against your policy, Discovery Life will cover your child’s education costs from pre-primary all the way through to college or university, both in South Africa or overseas, and include a book allowance and tertiary residence fees (up to a prescribed maximum).
Should your Global Education Protector policy be part of your Discovery Life Plan you can help reduce your premium by linking it with your existing Discovery Health, Vitality or Vitalitydrive products. So the better you look after your own health and make positive lifestyle choices, the lower your premium could be. You can also receive a portion of your premiums back through Discovery Life’s PayBack Benefit, getting up to 60% of your premiums back every five years!
Having a Global Education Protector policy in place means not just adding another level of security to your plan for your child’s schooling, but giving them the freedom to reach for their dreams, either at home, or away. Education is power, and that’s exactly what the Global Education Protector provides, along with the peace of mind that comes from knowing your child’s future will always be a bright one.
Information for this article was supplied by Discovery Life
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All info was correct at time of publishing