The World Bank, the world’s largest financer of education, refers to education as the most powerful tool for reducing poverty and inequality. In Nigeria, education is often the primary driver of upward social mobility within families, enabling children to surpass their parents financially.
This is why it is no surprise that Nigerian parents allocate up to 35% of their income to fund their children’s education.
Nigeria’s rising inflation rates have taken a toll on the cost of education from primary to tertiary levels, making it quite costly for parents to see their children through school. As expected, more parents are looking for innovative financial solutions that cater specifically to their child’s education.
Coronation Life Assurance organized an insightful webinar themed ‘Protecting Your Child’s Future: Insurance Solutions Every Parent Should Know’ to educate more parents about the Education Legacy Plan, a product that combines the essence of saving and insurance to allow parents to conveniently sponsor their children’s education to any level that they desire and protect their future.
The webinar’s panel discussion was skillfully moderated by Omotolani Akintunde and featured valuable contributions from Olufunmi Adenipekun, Segun Aremu, and Ayodele Kumolu-Johnson.
Olufunmi Adenipekun, the Chief Risk Officer at Coronation Life Assurance, spoke in-depth about covert risks and adversities that parents are unprepared for during their child’s academic years, and how insurance can make a difference in such situations.
“When a breadwinner becomes disabled, has a critical medical condition, or passes away suddenly, it takes a toll on their children. It can mean the end of their education. But with insurance, the effect of these things can be cushioned.
You might think you don’t have much and can’t afford insurance, but you have to remember that if you are no longer there, your children will have nothing. To protect the future of your children, you need insurance.’’
As economic uncertainties continue to guide family decisions, parents are doing all they can to stay ahead. Products like the Education Legacy Plan can ease the financial burden when it is most necessary. It’s the failproof way to ensure your child’s future is not disrupted, no matter what.
If you want to learn more about the Education Legacy Plan and how you can use it to give your child an unfair advantage, watch the full webinar here.
For more enquiries, email: info@coronationinsurance.com.ng or call 02-012275475, 02-012275476
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