I had Khali when I was almost 40 years old. There, I said it.
This means that the fear of not being present in his life when he hits college age is real. After all, by the time he goes to college, I'll be 57. I'm hoping that I will still be around and able-bodied, but I am also realistic enough to know that with everything happening around us, it may not be the case, so I need to make sure that I do what I can for my little one.
This is why I'm so happy to hear about Singlife Philippines Cash for Education Goals. I did my research, and, as promised, I am here to share with you the 5 reasons why you should try it as well.
1. It's so EASY.
Applying takes less than 30 minutes. This is huge for moms because we're so swamped with so many things that we barely have time for anything else.
This is literally something you can do at home, while waiting in line at the groceries, or even when you're having your minimal me time inside the bathroom.
You can check out a video I made to see how it's done.
2. FAST PROCESSING TIME.
From the time of application to approval to activation, it took less than 30 minutes. This is important because until the policy is active, your kid won't get the benefit.
3. NO LOCK-IN PERIOD
Should an emergency arise, you can withdraw the funds you have in the Cash for Goals. You just need to make sure that you are withdrawing a minimum of Php10,000 and leaving at least Php1,000 to keep the policy active.
Once you are stable again, you can put back the amount that you took and play catch up with your cash for goals. Note that this may affect the timeline because you withdrew money.
4. MINIMAL STARTING FEE
Pay Php2,500, and then you can decide on the fixed amount that you'll need to pay monthly.
There are three choices:
- Php500 (you get Php100,000 in 15 years)
- Php1500 (you get Php300,000 in 15 years)
- Php2500 (you get Php500,000 in 15 years)
The guardian just needs to present an AFFIDAVIT OF GUARDIANSHIP, policy name (that's your name,) beneficiary name (that's your kid's name,) and the GCash number that was used.
I'm sure birth certificate, death certificate, and valid ID's will also be required. To be safe, it's best to email a copy of the policy to people that you want to designate as guardians in case you are gone too soon. This is what I did.
This will not cover the entire college tuition of your kid but at least you have something to help fund things. Php100,000 to Php500,000 is still better than nothing and as financial experts would always say, something is better than nothing.
Hope this helped!