The Best Gift
The best gift you can give to your child is a quality education of their choice and...
Parenthood: A subtle blend of Love, Joy, and Anxiety.
As parents, we experience the boundless joy our children bring into our lives. Yet, we are also worried about their future and our responsibilities towards them.
Providing our children with the best education is one such responsibility and a significant financial commitment.
Here is a list of Best Child Education Plans in UAE for 2024;
Salama Idikhar + / Idikhar + Secure - - Islamic Savings Plan
A standout feature of this plan is the guarantee of both capital and returns on maturity, making it ideal for parents seeking secure investment options with no capital risk, coupled with life insurance protection.
This plan uniquely guarantees both the principal investment and the returns upon maturity. This feature is especially valuable in uncertain times, offering a solid foundation for future planning.
The plan’s maturity aligns perfectly with a child's fee payment needs: with fee payouts as follows;
From the beginning, the policy bond clearly states the exact dollar value expected at maturity, allowing parents to plan precisely for educational expenses.
In addition to the investment component, this plan includes an insurance aspect that offers financial security in the event of unforeseen circumstances, ensuring that your child's education funding remains secure.
For parents in the UAE looking for a reliable Child Education Insurance, the Professional Education Plan is a prudent choice. Its emphasis on guaranteed outcomes, clear planning, and life insurance protection makes it a standout option.
Start with as little as $500 per month and choose a term ranging from 5 to 20 years, based on your financial goals.
Gain access to top-tier International Mutual Funds, Target Date Funds, and Managed Funds, covering a wide array of asset classes, geographies, and industries.
Option to increase your contribution by 5% annually to counter inflation and match income growth.
Secure online access allows for effective monitoring and management of your investment portfolio.
With this plan, you have the advantage of continuing your investments seamlessly, even if you relocate outside the UAE.
Add this option to protect your child's education funds in the unfortunate event of a major illness or death of the parent.
The Zurich Legacy plan is an excellent choice for those seeking a versatile and growth-oriented approach to saving for their child’s education.
Idikhar Plus for Your Child's College Education: A Smart Islamic Investment Strategy
Idikhar Secure Plus is designed for individuals who want to save for goals such as children's education, without exposing their savings to market risks. The plan guarantees a 100% return of contributions, providing a sense of security and assurance. Contributions are invested in the SALAMA Secure Strategy, a Sharia-compliant investment strategy that focuses on limiting exposure to volatile markets and prioritizing secure investment vehicles. This approach is particularly beneficial for education savings, where preserving capital is as important as achieving growth.
Key Features and Benefits:
Market Risk Protection: The plan offers protection against market fluctuations, ensuring your contributions are safe.
Sharia-Compliant Investment: The SALAMA Secure Strategy adheres to Islamic investment principles, making it suitable for those seeking halal investment options.
Flexible Contribution Options: With various premium payment modes (monthly, quarterly, semi-annually, and annually), the plan caters to different financial situations.
Additional Benefits: The plan includes critical illness, disability, family income, waiver of premium, and accidental death benefits, enhancing its value beyond just a savings tool.
Withdrawal Flexibility: Early encashment and partial withdrawal options after one year of contributions add to the plan's flexibility, accommodating unforeseen financial needs.
No-Risk Trial Period: A 30-day free look period allows you to reassess your commitment without any risk.
Choosing the best child education plan depends on many factors like the age of your child, your disposable income, your risk appetite, and your investment goal.
As an Independent Financial Advisor, I help my clients plan and invest for various goals, including saving and investing for child education.
Arrange a Free Consultation to help you set up an education savings goal, determine your risk appetite, and select the most suitable child education plan.
Author, Blogger & Independent Financial Advisor. My goal is to give you actionable tools for creating passive income and building wealth. More than 10,000 expats have already used my ideas to jumpstart their journey towards financial independence. Connect with me to start yours...