Posted by: Pradeep | February 11, 2009

Education Insurance – why not for greedy and sudden fees increases?

GEMS has come out with one more innovative product “education insurance”. Under the scheme your death or permanent disability would not cause disruption in your child’s education. Most important is this insurance scheme is to cover education expenses anywhere on globe but only after “death or permanent disability”.

I would suggest GEMS to stop robbing parents of their hard earned money by charging huge fees for the schools. This would allow parents to invest that amount in savings and life insurance. This would not only ensure child’s education in case of death or permanent disability but also living expenses of the whole family for rest of the life in most cases.

This business proposition would have been beneficial to policy holders also if temporary job losses, relocations, sudden hike in fees, threats of school closure, curriculum change etc would also have been covered. But if GEMS does that then it would find itself at odds, isn’t it?

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