Best Insurance Plans for Your Child’s Education

Education is the key to a brighter future.

Most parents want their child to go to college but due to the rising costs of tuition fees, it can be challenging to save enough fund by the time their child enrolls. That’s why parents resort to educational plans or life insurance for education to help them save. But because there had been fiascos in the pre-need education plans, many Filipinos are now afraid to invest their hard-earned money even in the life insurance industries.

“Baka magsara din ang company na yan!” This is the common remark I would hear from people every time I would offer life insurance for educational needs.  Filipinos are more cautious when it comes to educational plans due to the broken promises and losses many had experienced.

But, we should note that pre-need companies and life insurance companies are different in many aspects. The main difference is that life insurance provides fixed guaranteed amounts and non-guaranteed investment fund values or dividends while pre-need plans are open-ended which promises to pay whatever the tuition fee is at the future time. The nature of pre-need plan products may be the reason why the companies failed to meet their contractual obligations.

On the other hand, there had been no life insurance company who has failed to deliver its obligation on a valid claim. Life insurance companies are strictly regulated by Insurance Commission and they are subject to international rules, practices and ethical standards.

Life insurance companies offer traditional or VUL policies for financial needs of the client such as child education.

Here are some of Sun Life’s best life insurance plans to help fund the dreams of your child, and your dream to send him to college.

Sun Dream Achiever


Sun Dream Achiever is an endowment life insurance and savings plan that is designed to address specifically your child’s education needs.

Term: 5 years to pay

Coverage: 15 to 20 years

Mode: Annually, Semi-annually or Quarterly

Benefits of Sun Dream Achiever 

✓ Life insurance coverage

Payor or parent will be insured during the entire duration of the policy. With this, there is peace of mind that your children can pursue their education and fulfill the dreams you yearn for them no matter what happens.

Additional benefits or riders such as coverage for accidents and disability may also be added to provide additional protection.

✓ Guaranteed education benefits

Guaranteed cash benefit will be provided through four (4) annual cash payouts that increase by 15% every year regardless of school or course chosen. Total cash benefit is equal to 100% of the insurance coverage.

✓ Flexible cash payout options

With our “Flexible Cash Payout” feature, you may choose when the cash payout will start – from 12 to 17 years after policy effective date. You may use the cash payouts as education stipends when your child enters college.

Sun MaxiLink Bright


Sun MaxiLink Bright is a Variable Universal Life (VUL) or investment-linked life insurance plan that offers a combined benefit of insurance protection and investment, providing you financial security and peace of mind while you grow your money over time. The investment fund can be used for education of your child.

Term: 5 years to pay

Coverage: up to age 88

Mode: Annually, Semi-annually or Quarterly

Benefits of Sun MaxiLink Bright

✓ Life insurance coverage

The guaranteed life insurance can be for child or payor (parent). The face amount is doubled and this is the amount which goes to family in the event of untimely demise of the insured.

You may also add supplemental benefits or riders to provide additional protection for contingencies such as accidents, disability and illnesses.

✓ Flexible investment options

Investment is in the form of mutual funds and you can choose among the investment fund options to address your different investment objectives and risk appetite. Options are equity fund, index fund, balanced fund, bond fund or money market fund. These funds are professionally managed by fund managers who are experts and experienced on investments.

✓ Manageable premium payment

Pay for at least 5 years or opt to increase your fund’s value through top-ups or excess payments on top of your regular premium. This can help meet your child’s school expenses no matter what happens.

✓ Loyalty bonus

Keep your policy active for at least 10 years and reap rewards in the form of Loyalty Bonus. The bonus can be used as an additional source of fund to boost your investment or simply to help you achieve your dreams faster. Loyalty bonus is not guaranteed and depends on several factors including the fund’s average monthly balance.

Other Options in Building Your Child’s Education Fund

Sun Maxilink Prime – similar to Sun Maxilink Bright but is payable in 10 years. Investment fund value can be used for education needs of client.

Sun Flexilink –  most affordable investment-linked insurance plan which is also regular pay.

Start Building Your Child’s College Fund

The best time to start is when your child is still young and while YOU are still young and healthy. Create your financial strategy with a financial advisor and start by requesting a free proposal or sending a messagetoday.

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