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"Standard Chartered has identified a gap in the market for an education specific policy, aimed solely at helping families plan for their children's future education. Our savings plan is tailored to the specific needs of our customer's savings potential, tenure and also requires no medical - customers can simply walk into any one of our branches and obtain an over-the-counter policy."
Considering that just one year of tuition and board can cost upwards of AED 130,0001 along with hidden costs such as activities and book fees, it is vital for parents to have a systematic savings approach to their children's future education needs.
"Most parents are aware of the rising costs of education," said Belman," However many delay starting a savings plan or baulk at the lengthy documentation that other policies require.
"We're providing the perfect solution by offering an easy and accessible child education savings plan which will ensure their children get a successful start in life," he concluded.
The Standard Chartered child education savings plan requires no medical, has an inbuilt Waiver of Premium benefit - which means that in the event of the parent's disability or death the premium will continued to be paid - and is available immediately over the counter at any Standard Chartered branch in the UAE.
Posted by Anne-Birte Stensgaard, Senior News Editor
