Insurance Education

CHAPTER 1
INTRODUCTION

INSURANCE education is one type of life insurance that contain elements of investment, namely at the stages of children's education, then there is some cash value that can be taken to pay for children's education. Therefore, usually the cash value in insurance education can only be taken at the time of maturity stages of children's education. For example when the base will pay money into elementary school, junior high, high school and college.
Education insurance usually provides certainty in terms of numbers. That is, the public was promised in certain years and given the number of funds that had been promised. For example, by paying a premium in a certain amount, it can be monthly or yearly. In addition, given the promise of getting some funds which are usually tailored to their educational levels such as kindergarten, elementary, and so on. As an investment, this insurance will manage and invest some of the premium paid.
However, further development of insurance products become more varied education. Cash value not only be taken during the stages of education alone, but also at other times. This is possible only if their cash value has emerged. Therefore, if returned to the initial concept, the cash value can indeed be taken if there had been a part of the insurance premiums are invested.
At this time there are at least three major things that cause people to make insurance as an investment instrument, namely health, education, and pensions. Health reasons is still the main thing for people who want insurance. However, the future did not rule out the possibility of education becomes the main reason for people to hold the insurance policy.


CHAPTER 2
ISI

Insurance Education & Education Savings

Basically, the savings / insurance is good. The point is that what we can produce as we are still productive, can also give us the opportunity to design our financial life in the future. Because no one knows what might happen tomorrow.
Insurance education and education savings basically has the same function, namely a special investment prepared for the tuition fee will suffice. To be on time for your children enter school or college, you do not need to bother anymore to think of where adequate education costs.
Despite having the same goal, but the education of insurance and education savings accounts have different characteristics. And to determine which one is better, of course we need to see which is more suitable for you run. Insurance is the insurance plus the investment in education for education, while education is an investment savings for education which are covered by insurance.
First, we will first discuss education savings. Education savings accounts is a specially designed savings in the bank where a customer periodically and automatically save into an account which was given a certain period in order to fit with school children's education schedule. Because the funds are locked, usually the bank will offer a return on investment is relatively higher than regular savings. You could say this product is a combination of savings and deposits, called the savings because setorannya done gradually and as deposits because of locked during certain time periods.

Although given period of time, but parents may withdraw savings before it's time to maturity. But of course the same as deposit, will be charged a penalty for this. I suggest that this is not done except in an emergency.
Aside from being a means of investment, education savings also comes with insurance. That is, if you as a breadwinner dies and can no longer saving for children's education costs, the savings deposit insurance will replace it. Without having to save again, the cost of education of children still met.
Both the insurance education. Because the essence of insurance products, life insurance rather, the education insurance is actually not much different from other life insurance products. That is a program that will give your family benefits if there is a risk of death. Benefit received is usually the compensation and return on investment for education. But if there is no risk of death, then the insurance will provide a number of other scholarships that are not derived from your investment in the form of premiums already paid.
As an insurance product, then this investment must not be cashed at any time. This new investment will be disbursed in two conditions. First, when matured, and the second is if there is a risk of death. Own maturity can be arranged and tailored to children's education schedule, to fit the child goes to school, pass the money liquid.
Usually the result of investment in education insurance is relatively higher when compared with education savings. But insurance can not be as flexible savings accounts, if they want stopped in the street, had to wait about 3 years until the cash value to be cashed. And usually, the process is even more complicated and takes longer than the education savings.
Looking at the characteristics of both is also concluded that education savings is short to medium term investments, while insurance education is a medium-to long-term investment.

Chapter 3
ANALYSIS

We have compared the assumptions on the relationship between education standalone plan with Bank Mandiri and Bank Bukopin. There are many differences between Bank Mandiri and Bank Bukopin.

BANK MANDIRI
One of them is paid per month from Bank Mandiri is a minimum of USD 100,000 (in dollars) while the $ 10 dollars, interest at 0.5%.

Benefits:
1. Bank Mandiri in collaboration with world-class insurance company, PT Asuransi Jiwa Manulife Indonesia, providing free insurance coverage up to USD. 5,000,000 or USD 500 per month per saving the cost of premiums paid by Bank Mandiri.
2. After having Mandiri Savings Plan, it will automatically get insurance coverage on the risk of permanent total disability or death, with a choice:
a. PT Asuransi Jiwa Manulife will continue to deposit monthly unit until the maturity date (a maximum of USD 5,000,000 or EUR 500 per month for each of savers), or
b. Can earn residual monthly deposit upfront after calculating the Net Present Value (NPV) with SBI interest rate period of 1 month.




Requirements:
1. Savers at least 18 years old at the time of account opening and a maximum of 70 years at the Independent Savings Plan matures.
2. Own Savings or Current Mandiri Mandiri.
Mandiri Savings Plan with its provisions that already have accounts income insurance protection because the system uses automatic auto debit facility (it will move the funds from the account of Independent Savings Plan).

BANK BUKOPIN
While the provisions Bukopin deposit per month minimum Rp. 100,000 and pengasuransian durations ranging from 1 (one) year hungga 18 years in insurance education. Balance Assurance Plan (SJP) members can be drawn 50% per entry age in every level of education in this case is when the insured's age (children from savers) reached the age of 3th, 6th, 12th, 15th and the end of the contract interest rate of 6% with no administrative costs, Auto Debit facility using the system for monthly deposits.

Conditions:
1. Individual.
2. Minimum age 17 years and a maximum of 55 years at the time of opening Bukopin Savings Plan and the maximum 65 years on maturity of the contracts.
3. Submit a photocopy of identity Savers (KTP / SIM / Passport) is still valid.
4. Own Savings in Bukopin.
5. Maximum age of insured children aged 17 years at the beginning of the contract.
6. Submit a copy of Birth Certificate or a family card for the inclusion of the child's name on the certificate (child's name on the certificate is a child who is the heir Savers).

Chapter 4
CONCLUSION


The conclusion that can be drawn from comparisons between the two banks that we have observed are alike use Auto Debit facility automatically, on independent education savings savings not only in amount but also can use the dollar, both types of education savings savings owners can change certain terms deposit amount per month (eg if the initial agreement deposit per month 100,000), the depositor has the right to increase the amount of money to be paid in the next month.
At the Bank Mandiri, the owner can use his own name savings but at Bukopin savings or insurance on the insured person will be represented kepemilikkannya by his parents.