Ask your clients...

  1. Do they know what sort of education will suit their children best?
  2. Do they know the cost to provide it?
  3. Do their children have special talents that need nurturing at a particular kind of school?
  4. Are their children likely to go to university one day?
  5. Are they prepared for a rise in university fees on top of increasing living costs?
  6. Are they considering a university abroad?
  7. Do they have a savings plan in place?
  8. Is their savings plan sufficient to combat the impacts of inflation and low interest rates as well as rising education costs?
  9. Are they confident that their savings are in an economically stable environment?
  10. How do they keep control of their savings against different tax regimes and widely varied national laws?

Discussion tips...

  • Encourage them not to just look at short-term education needs. Fees now may be vastly more in 10 years’ time.
  • Make them aware that annual living costs or boarding expenses could be the same as the yearly school fees.
  • Make sure they don’t make assumptions about the sort of education path their child will choose. Be prepared for every eventuality.
  • Talk to them about Old Mutual International’s range of investment products and how they can be appropriate for education planning. 

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