BANDAR SERI BEGAWAN – Education in Brunei Darussalam has constantly evolved throughout the years, accommodating to changes in global trends, job demands, newer opportunities and a competitive job market.
It’s no wonder most parents opt to give their children the best education opportunities possible. The cost of investing in your child’s education for the long-term can add up to a hefty amount, especially if you are looking at sending them to study at private institutions or to a foreign university.
According to a global study on cost analysis of studying abroad, the average tuition fees for colleges and universities in Asia stands at US$8,886 a semester. Meanwhile, this cost balloons to nearly US$16,000 per semester for tertiary institutions in Europe.
School fees aside, there is also the need to afford studying necessities such as books, laptops as well as living and transportation means.
Meeting this cost can be difficult without good financial planning, and may become even harder if a parent is met with permanent disability or income loss. When planning for your children’s education, a few considerations to include are the number of children in your care, your household income, a calculated estimate of the total course fees to name a few.
Even with all these calculations, the biggest question parents should be asking themselves is, how do they secure this plan to ensure their children complete their education?
With Takaful Brunei Keluarga Sdn Bhd’s (TBK) Education Takaful, parents and guardians can get peace of mind by safeguarding their savings and receive financial support for their child’s education and for their families in the event of an unfortunate incident.
In the event of death before the takaful plan’s maturity date, beneficiaries will receive the balances due to the Participant (insured) prior to the date of the death and the remaining unpaid amount of Takaful installments due at the end of the certificate’s maturity. This ensures the intended amount saved is met.
The plan allows you to put aside monthly savings for a minimum of 10 years and up to 40 years with a minimum of $15 monthly installment.
For customer convenience, takaful installment can be made via standing instruction, credit or debit card, BIBD online payment or even BIBD mobile app as well as by cash at TBK Headquarters in Kiulap.
The TBK Education Takaful plan is open to parents and guardians 18 years and above and the plan must mature before the age of 65. For enquiries and more information, contact TBK Call Centre at 2231100 to get in touch with TBK’s Certified Islamic Financial Planners or visit its website.