Endowment savings for kids

[ixoral]

Hi all, checking if anyone started some form of endowment savings for your kids since young? Somewhat like a fixed monthly savings which will eventually accumulate for their higher education in future.

Other than the traditional savings we have in our liquid bank account, I am thinking if it’s better to start a fixed monthly savings with Bank or do those 20year endowment with an Insurance coy?
Any thoughts on this?

 

[Arcanell]

how much can a fixed monthly savings at Bank gives you? You have to compare the projected interest and liquidity. Some endowment plan actually offers liquidity.

 

[invigo79]

I bought endownment saving from prudential. Got include insurance too.

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[paul02]

Decide wisely if the money is to go to the child when the plan matures. If at the time your child has problem managing his finances, it might put you in a tight spot.

 

[chopra]

go to SHINY THINGS thread in money mind and avoid getting conned into ENDOWMENT.


no need thank me.

 

[veryhonestguy]

Where got worth it endowment haha

go to SHINY THINGS thread in money mind and avoid getting conned into ENDOWMENT.


no need thank me.

 

[Sakinahali2017]

I feel endowment is plus point if u can afford. Priority for me is accident and hospitalization plan for them.