A new year often triggers the idea of making resolutions or specific goals for the months ahead and for many, saving for an important purchase or expense can be one of those goals. With International Education Day falling on 24 January, we asked the team at InsuranceMarket.ae to tell us more about saving for school fees.
“There’s a famous quote that says an investment in knowledge pays the best interest”, said Rachel Al Mughairi, chief engagement officer at InsuranceMarket.ae. “However, these days, such investment can be sky-high if we consider the costs of a child’s education from kindergarten to university. In the UAE, a recent survey reported the costs of pre, primary and secondary education alone to be estimated in excess of Dh530,000 and when factoring in degree-level education too, the cost rises to approximately Dh1 million: based on two years pre-school, six years primary school, six years secondary school and three years at a reputable university. And remember this is per child, so for many families it’s a real concern”, she added.
Avinash Babur, CEO, InsuranceMarket.ae, said: “The estimated costs don’t include other expenses such as uniforms, sports, clothing, equipment, computers, tech/gadgets, books, materials, and trips/excursions: all of which could push those predicted costs up by as much as a further 40 per cent. We advise our customers to plan ahead and put together a savings programme today that covers the costs of tomorrow. There are a range of investment-linked plans, such as credit-life policies, that are a great vehicle for savings and if taken out early enough, can make saving for large amounts more affordable than people might think.”
So, don’t learn the lesson the hard way and struggle with study expenses: InsuranceMarket.ae is ‘top of the class’ when it comes to saving. Be smart and give them a call today.
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