5 Education plans parents should consider for college planning

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It's never too early to prepare for your child's future, especially in line with college planning. Here are some educational plans that you should consider.


Worried about your child’s future? Start college planning for them as early as now.

Parents worry about a lot of things, but how to pay for their children’s future is perhaps the greatest worry of them all. Don’t fret though as one way you can secure your child’s academic future is by acquiring a pre-need plan tailored specifically to their education.

Given several education plans in the Philippines these days – and the fears that what happened with CAP nearly a decade ago can happen again – which educational plan should parents invest in?

Here are five viable plans that can get you started with college planning:

Sun Life Financial Philippines, Inc.

The Philippine arm of the Canada-based financial service offers an insurance plan that caters to the eventual educational needs of your child. Under the Sun Dream Achiever plan, a child is guaranteed an education at the school of their choice, with the course or program of their choosing.

Under said plan, benefits include the following:

Life Insurance Coverage – basically ensures that the child can continue their education, regardless of what may happen to the payor of the plan.

Guaranteed Education Benefits – four annual payouts at the rate of 15% per year will be provided regardless of course and school chosen, the total amount will be equal to 100% of the coverage paid for.

Dividend Earnings – boosts the insurance and/or cash payouts of the insured, though this will depend on the company’s performance.

Flexible Cash Payout Options – an option to start the cash payouts will be given, either 12 or 17 years after the policy’s effective date, allowing the insured to use the payouts as stipends for their education.

The minimum face amount (or benefit equivalent) for this particular education plan is PHP 250,000, split into an annual payable of PHP 43,547.50. A higher face amount equates a higher payout.

Apart from these, the plan can be fully paid in as short a time as five years, and the application process is simplified. Other riders, such as Accidental Death Benefits can also be applied to the insurance plan.


There are several educational plans available to parents and their children. Go through them and pick out which is best for you.

PhilAm Life

As a company under the AIA Group, their goal is to provide financial protection, security, and a comfortable future. Under the Bright Future Invest plan, the following benefits are available to their clients:

High Earning Potential – the education plan also comes as an investment portfolio, allowing the payor to grow the fund through various investments. You’ll be able to build your college fund starting at PHP 20,000 a year.

Flexible Investment Features –This allows you to choose how long you pay the premium on the plan and on the investment. Payment plans of 3 years, 5 years, 10 years, and up until your child is seventeen is available. You can also add more money to it as you like.

Guaranteed Life Protection – additional benefits on the plan also allow for it to become a variable insurance plan.

Like Sun Life, these benefits run the gamut from accident premiums to medical benefits toward long- term hospitalization or surgery.

The minimum benefits are determined by the units one purchases, which costs PHP 1,000 each. The minimum units that can be bought is ten, making the total investment PHP 10,000. Cash payouts increase by 15% annually to make room for annual increases to tuition fees.

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