Wealth & Protection
Today’s fee is not the fee you will be paying
Education costs in India have outpaced general inflation for two decades. Planning against the current figure is the single most common reason these funds fall short.
What usually goes wrong
Not every one of these will apply to you. Most households recognise at least two.
- The target is set at today’s fee, so the plan is short before it starts.
- General inflation is used where education inflation applies — a gap of three or four points, compounded over fifteen years.
- Money needed in a couple of years sits somewhere it could fall sharply, with no time to recover before it is spent.
- A product is bought because it has the word "child" on it, rather than because it reaches the number.
Before anything is suggested
The questions that come first
A recommendation made before these are answered is a guess with a product attached.
- 01 What course, and what would it cost today?
- 02 In how many years?
- 03 Studying in India or abroad — and if abroad, in which currency?
- 04 What is already saved towards it?
- 05 What happens to the plan if your income changes?
Life cover premiums may qualify for tax benefits under Section 80C, subject to prevailing tax laws.
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