2023-05-22 18:28:56
A study insurance or educational insurance is a savings instrument that seeks to guarantee a family regarding the higher education of their children in the event that the father, mother or guardian is absent due to death or are prevented from contributing financial resources due to disability after accident or illness.
This tool anticipates an uncertain future and lessens the economic impact on higher education, therefore it is necessary to be prepared from the beginning so that in case of any eventuality, education is not put at risk.
Educational insurance is a financial product that works like a savings plan, it is the union between a savings plan and life insurance, which guarantees that the beneficiary receives the agreed money to continue his studies at a higher level, even when the parents or the tutor is missing.
Insurers allow you to save in pesos, dollars or investment units (UDIs), although the National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) recommends doing so in something that does not affect savings so much in the face of a currency devaluation national.
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The amounts to be covered for study insurance can be monthly, quarterly, semi-annually or even annually, although it must be considered that in the case of monthly, quarterly or semi-annual premiums, interest is charged, and the smaller the child is or daughter, better, since the amounts of payments will be reduced, regularly the terms are 15, 18 and 22 years.
The CONDUSEF assured that there are financial institutions that offer redemption or reimbursement options so that the owner of the policy receives a partial or total reimbursement of the premiums paid if the beneficiary does not use the insurance; In addition, any adult can purchase this product, however, insurers consider the type of person the contracting party is, health issues and even habits are analyzed.
The educational trust is a legal and financial instrument that must be operated by a Bank and the returns obtained are exempt from Income Tax (ISR), but before hiring one it is recommended to compare prices, characteristics, requirements, benefits and restrictions.
Finally, the CONDUSEF recalled that this product has premium exemption coverage, that in the event of death or total and permanent disability of the parents or guardians, the insurance is paid and the children will receive the insured sum upon fulfilling the age agreed in the contract, but when contracting it is necessary to check that the product has said benefit.
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