Saving for the Educational Plan of Our Children with Philam Life (part 2 of 2)

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A few weeks ago, I shared how Carl and I are already planning as early as now for the college tuition of our kids. Yes, it might seem like we have a long way to go with neither kid being even in grade school. But honestly, the earlier you start the better chances you have of making these goals a reality.

I discovered the benefits of starting early when the Baby Barangay girls and I were offered a chance to sit down with with one of Philam Life’s top Agency Managers, Ces Melendres, and her daughter, Genie Melendres who is also one of the company’s top Unit Managers, to learn more about a unique investment plan that they just launched called Future Scholar.

Future Scholar is an investment and life insurance plan by Philam Life that gives guaranteed education benefits and long-term growth potential.

The plan works like this:

1. You sit down with a Philam Life Financial Advisor to discuss the educational path you hope for your child (a local college or an international college would be a good place to start). They will then calculate based on current college rates and predicted inflation how much you should have saved by the time your child is 17 to make that dream a reality.

2. The advisors will then recommend the amount you should invest in either deposits for five years or smaller deposits up to when your child is 17 to make that money grow to your desired goal.

3. You can choose to invest your money in a guaranteed savings or an investment. For example: 50% guaranteed savings/50% investment, 80% guaranteed savings/20% investment, or 20% guaranteed savings/80% investment. It’s truly up to you!

4. Pay your premiums and watch your money grow. It’s that easy.

Here are some other facets of the Future Scholar Plan that I really like:

1. The plan offers continuation benefits: In case anything (god forbid) were to happen to you or you get totally or permanently disabled, the plan will still continue without you having to pay future premiums.

2. Optional Life Insurance Coverage: You can also choose to add a small fee to have even more piece of mind that if you pass away before your child is 18, your child will have a lump sum cash benefit to help with their future.

3. This plan is aimed for educational savings, but the money earned is actually yours to decide to use how you see fit. If your child decides not to study abroad for college, that’s okay. The money earned can go into other things that will benefit your family in the long run.

4. It’s important to note that Philam Life is not a pre-need company. Philam Life is a trusted life insurance and wealth management brand that has been helping Filipinos reach their dreams for over 69 years. It is known for its credibility and trustworthiness and has already given back over 10 billion worth of education benefits to its clients from 2004-2016.

With all this now available. It would be silly to not take the time to just schedule a meeting with a Philam Life Financial Advisor to learn more about how they can help you and your children be better prepared for the future. They now have a flagship office at Bonifacio Global City for you to be able to have a coffee and learn how Philam Life can brings your dreams to reality.