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Futurewise, a financial services provider, today gave a definitive answer to a major concern in our society: how parents can ensure they can provide for their children’s educational needs amid the rising cost of living.  

The company launched its tailored educational insurance solution that combines the best of financial services with innovative learning technology.

At a media briefing, Futurewise explained that while many parents have unfortunately been forced to rely on traditional life insurance and at times funeral policies to cover the educational costs of their children, these policies usually pay out a lump sum that requires them to invest the funds in order to provide an annual income to cover school fees. 

As an education insurance-first organisation, Futurewise has taken a different approach introducing “a simple and targeted solution to make parents' lives easier.’’ 

Its education insurance policy covers tuition fees of children until the age of 22 in the event that a parent or guardian passes away, becomes disabled or is terminally ill. Furthermore, it offers parents access to a savings fund powered by Nedbank Corporate and Investment Banking, that allows them to put money away for their kids’ education. 

There is also an innovative Learning Hub that features a wealth of learning resources like tutoring and discounted educational products and services to help parents and children on their learning journey to secure the future of young bright minds.

“From as little as R7 a day, Futurewise is providing an exceptional educational insurance solution that is affordable, pays tuition fees directly to schools, takes five minutes to obtain a policy with no medical test and provide access to a Learning Hub that enhances the learnings experience of children,” enthused Paballo Makosholo, a policyholder and the Chairman of Futurewise.

“We want to help protect the educational future of our country’s learners. By supporting both parents and children on their learning journey. We calculate the unique educational costs for each child we protect, providing parents with a policy guaranteed to take care of their children’s educational needs,” added Arno Jansen van Vuuren, Chief Operations and Technology Officer at Futurewise.

In addition to a tailor-made educational insurance offering, the policy gives parents access to the Futurewise Learning Hub, comprising the Futurewise Academy and Futurewise Store. The Learning Hub brings parents leading education solutions for their children through every step of their schooling journey, to ensure they have the support and tools they need to succeed. It rewards policyholders with discounts and preferential access to leading education solutions to support the child’s learning and academic development. 

The Learning Hub can be accessed from day one of policy inception, as this is an educational insurance that provides benefits while policyholders are alive as well as giving a peace of mind that should a risk event occur, the educational future of their children will be taken care of by Futurewise.

The Academy supercharges the child’s learning journey with discounted access to leading digital education providers such as CodeSpark, Goodie Tutors, and Skillshare. The Futurewise store also offers deals on HP laptops and tablets, textbooks, stationary, and more. 

“We have developed a unique value proposition for parents who want to safeguard all aspects of their children’s educational future. Futurewise gives the peace of mind every caregiver needs,” concluded Jansen van Vuuren.