AIA Insurance launches Education Plan

Wednesday, 3 September 2014 00:05 - - {{hitsCtrl.values.hits}}

In order to assist parents seeking to provide their children with a quality education in an increasingly competitive world, AIA Insurance has come up with a new Education Plan. The company’s well-thought out insurance solution will ensure that the children will receive a fund for higher education, even if their parents are not around.

This is done by AIA continuing to pay the premium if the unforeseen happens to an insured parent. In case of such an occurrence, the AIA Education Plan provides a lump sum for the family, to help maintain their lifestyle, as well as building an education fund for the child. When the parent invests in an AIA Education Plan, the fund grows at a compounded rate because the company has a unique dividend system to ensure the continuous build-up of the fund at an annually declared rate. “AIA as the Real Life Company understands the concerns of parents who are aware that the cost of private higher education is increasing exponentially. Parents have the option of preparing to meet the higher education of the child by planning ahead and investing in a comprehensive solution that has been designed to ensure an education fund for their child,” said AIA Insurance’s Company Spokesman and Head of Marketing Suren Perera. Chief Executive Officer of AIA, Shah Rouf commented, “We have AIA’s extensive experience and expertise in Asia to support us in developing products that meet the emerging needs of today’s parents with ambitious aspirations for their children. This has strengthened our effort to provide customers with a range of innovative solutions.” AIA also offers Sri Lankan customers a range of protection, solutions designed to safeguard the living standards of families in case the worst happens. AIA said Sri Lanka is among the countries with the highest literacy rates in South East Asia and this has spurred children to become more competitive. Higher education for their children is the biggest concern for today’s parents, whatever the age and aptitude of their offspring. Only 17% of all eligible Sri Lankan students ultimately enter local public universities, according to the University Grants Commission. The rest either opt to get a higher education qualification locally or a degree overseas.