Set up Phil Education Plan

Posted by RogerR (155 days ago)

Has anyone done this - Am looking at an education plan from our DH's child

The main part I want to ensure is the money will go to the child for education and it will be sufficient to make a difference

Am looking at Prudential, Sunlife and PhilAm for a one off lump sum plan (or monthly contribution) and look to talk more this week with them

Any advice on who has done this, knows how these plans work or something similar would be appreciated

Thanks

Find what you are after in our Hong Kong A-Z Directory

Posted by fchung (155 days ago)

you can approach prudential for the educational plan for your dh child but you cant be the owner of the plan but it must be the mother or the parents of the child is the owner but the insured is the child. you are only the payor....

Posted by NaomiInChains (155 days ago)

Do you know if any plans are more highly regarded than others?

Posted by fchung (155 days ago)

please contact mr dominic ho at 61231868. he will give you more details about educational plan. he is been working in Prudential 10 yrs and he is very expert.

Posted by RogerR (154 days ago)

Thanks - Does anyone know what a typical education plan costs?

Posted by RogerR (148 days ago)

Ok Mr Ho hasnt responded after promising he would which is a pity

Can anyone advise on what is a good plan or way people do this even in the Philippines? Any advice on these schemes or experience with them would be most appreciated

Posted by GreenValleys (148 days ago)

I think that if the child is living in PH the policy will need to be issued there also. It could be difficult to set up if you are in HK but not impossible. The different insurance companies have different variations of the same general plan design. Some might pay a lump sum at a specific age; others might pay regular amounts over consecutive years; and yet others might pay different set amounts at irregular intervals in line with expected milestones in the education cycle. You should be able to find a plan to suit, but I still think there will be certain other challenges to overcome re PH v HK. Also agree that you will not be a legal party to the contract yourself as you have no insurable interest in the child.

Posted by Angel (146 days ago)

Approach the Metrobank in Worldwide House (one of the major bank in the Philippines, i saw their advertisement (flyers) about the Educational Saving stuff like that..

Posted by NaomiInChains (145 days ago)

Great - Thanks Angel

Posted by YourQueenie (143 days ago)

I think education plan is a long term plan. As the mother of the children and if she is in HK, it's good to take out a policy from an international insurance company, not to be bounded in Phils's .

Posted by NaomiInChains (142 days ago)

We're actually looking at a HK based unit trust we pay into every month with a min of 1000 we can stop and start as we like. Agree with Yourqueenie as the Phil products look to be very high in overheads and not very transparent

Posted by Jctom (137 days ago)

Hi, I'm Chris. I'm a financial planner. Please kindly call me at 97181494 anytime. We have a great educational plan for your DH's child. It's the Scholar Gold - guaranteed 5 years to pay only. We believe that the child's future success depends on the security of his education. For more details you may call me or email me at jctomale@yahoo.com. Hope to be at service to you soon. :-)

Posted by NaomiInChains (135 days ago)

Thanks Chris I'll be in touch

Posted by Jctom (134 days ago)

You're welcome. Would you mind if i ask the child's and mother's age? I can prepare a proposal for free :-)

Posted by Jctom (131 days ago)

Hi, I can give you a free "educational financial health check", basing on this we can determine if the proposed educational plan is sufficient to make a difference.
The parent / guardian will have the responsibility to ensure that the money will go to the child for his/her college education. Please don't hesitate to call 97181494.

Posted by Jctom (122 days ago)

Hi, RogerR. Any news?

Posted by RogerR (122 days ago)

Hi there. I've asked on a Pm but no reply to my question so I'll ask here as well.

Can you pls let me know the benefit return + any charges and fees for a 5 year plan at PHP equivalent of HKD500/mth

Thanks

Posted by Jctom (120 days ago)

Hi, RogerR. I'll be glad to meet you or your DH to explain all the details about the Educational Plan. Just call me at 97181494. Educational Plan for the OFW is one of our expertise.