Education Insurance prices may see a 40% hike in the near future
If you are planning to get a degree from a foreign university, this is the right time to invest in an insurance program. As the economy of the world is experiencing a significant shift, insurance agencies have started changing their premium plans. Top world economists predict a 40% increase in the term plans of the insurance companies.
On the surface, it may look like the increase in premium is not a good idea. However, this means better insurance for your higher education. The coverage for engineering, doctorate, research classes will come under umbrella policies.
It will cover accidental damage to the properties as well as any delay in degree due to unforeseen conditions.
Higher studies sometimes need a longer time to complete, and the grant may not be enough to cover the accidental damages. Insurance becomes an integral part of getting a degree in such circumstances.
Should you be investing in education insurance with a price hike in the near future?
A penny saved is a penny earned! Investment has always been a reliable way of building wealth. In future the price of medical facilities will get more expensive. With years of abuse, the nature is now fighting back and ailments are becoming more and more complicated by each passing day. If this pandemic has taught us anything, it is to be prepared for the worst. And if you wish to continue higher studies, it is a matter of utmost importance to get it covered under the insurance.