sonjack2847 Posted January 24, 2016 Posted January 24, 2016 I am thinking of starting a savings scheme for my daughters education I have heard of a saving scheme with Metro bank but wondered if any of you have either done it with them or know of any other decent schemes. Link to comment Share on other sites More sharing options...
manofthecoldland Posted January 24, 2016 Posted January 24, 2016 I am thinking of starting a savings scheme for my daughters education I have heard of a saving scheme with Metro bank but wondered if any of you have either done it with them or know of any other decent schemes. My wife used a Prudential and a 'Filmlife' (sic) policy to put away money in advance for her children's college educations. She said that she heard Manulife also has policies. Prud. was P500/mo. , paid in quarterly, and 'filmlife' was P1K/mo., pd. in quarterly. They had loan provisions for emergencies. I had no part in this, it was her baby, so I don't know that much. It did have an insurance wrap, because when her son died in a HS swim practice accident, they paid out P20K for death insurance, and shifted the balance of the policy to her daughter's educational cost use. I just assumed that she had bought some type of education annuities... something that I was unfamiliar with in my country. If you are able to plan ahead and set aside money for the children's future educational needs and costs, this takes some of the sting out of it. I have never studied this, and hope you will share what you find out if you visit some of the insurance and banking institutions here in your search for educational policies. 1 Link to comment Share on other sites More sharing options...
sonjack2847 Posted January 24, 2016 Author Posted January 24, 2016 I am thinking of starting a savings scheme for my daughters education I have heard of a saving scheme with Metro bank but wondered if any of you have either done it with them or know of any other decent schemes. My wife used a Prudential and a 'Filmlife' (sic) policy to put away money in advance for her children's college educations. She said that she heard Manulife also has policies. Prud. was P500/mo. , paid in quarterly, and 'filmlife' was P1K/mo., pd. in quarterly. They had loan provisions for emergencies. I had no part in this, it was her baby, so I don't know that much. It did have an insurance wrap, because when her son died in a HS swim practice accident, they paid out P20K for death insurance, and shifted the balance of the policy to her daughter's educational cost use. I just assumed that she had bought some type of education annuities... something that I was unfamiliar with in my country. If you are able to plan ahead and set aside money for the children's future educational needs and costs, this takes some of the sting out of it. I have never studied this, and hope you will share what you find out if you visit some of the insurance and banking institutions here in your search for educational policies. I have sent off for information from 2 providers so will let you all know what they come up with. They don`t seem to put the information online 2 Link to comment Share on other sites More sharing options...
MikeB Posted January 24, 2016 Posted January 24, 2016 My insurance agent showed me some educational savings plans thru AXA-Philippines which is owned by MetroBank (or vice-versa). Perhaps that's what you're thinking about. I passed because I plan to take our child to the US for school but I bought a life insurance policy thru them. I can forward the agent's name by PM if you want. 1 Link to comment Share on other sites More sharing options...
mogo51 Posted January 24, 2016 Posted January 24, 2016 I am thinking of starting a savings scheme for my daughters education I have heard of a saving scheme with Metro bank but wondered if any of you have either done it with them or know of any other decent schemes. My wife used a Prudential and a 'Filmlife' (sic) policy to put away money in advance for her children's college educations. She said that she heard Manulife also has policies. Prud. was P500/mo. , paid in quarterly, and 'filmlife' was P1K/mo., pd. in quarterly. They had loan provisions for emergencies. I had no part in this, it was her baby, so I don't know that much. It did have an insurance wrap, because when her son died in a HS swim practice accident, they paid out P20K for death insurance, and shifted the balance of the policy to her daughter's educational cost use. I just assumed that she had bought some type of education annuities... something that I was unfamiliar with in my country. If you are able to plan ahead and set aside money for the children's future educational needs and costs, this takes some of the sting out of it. I have never studied this, and hope you will share what you find out if you visit some of the insurance and banking institutions here in your search for educational policies. I have sent off for information from 2 providers so will let you all know what they come up with. They don`t seem to put the information online That is not unusual in Asia mate, my experience with Insurance companies is that they give very and take a great deal! 1 Link to comment Share on other sites More sharing options...
jpbago Posted January 24, 2016 Posted January 24, 2016 I am thinking of starting a savings scheme for my daughters education A scheme is a scheme. If the situation changes so that the child does not or will not be going to school, it will be difficult to get your money. Refunds are next to impossible in the PI. You are better off to do it yourself so that you have control like in a separate bank account. 1 Link to comment Share on other sites More sharing options...
MikeB Posted January 25, 2016 Posted January 25, 2016 A scheme is a scheme. If the situation changes so that the child does not or will not be going to school, it will be difficult to get your money. Refunds are next to impossible in the PI. You are better off to do it yourself so that you have control like in a separate bank account. The word "scheme" has a completely different connotation here. Any plan is commonly called a "scheme", it has no derogatory meaning. I don't necessarily disagree with what you're saying but the OP asked the question and, having met him a few times, I figure he's savvy enough to decide for himself what's right or wrong for his own situation. 3 Link to comment Share on other sites More sharing options...
sonjack2847 Posted January 25, 2016 Author Posted January 25, 2016 My insurance agent showed me some educational savings plans thru AXA-Philippines which is owned by MetroBank (or vice-versa). Perhaps that's what you're thinking about. I passed because I plan to take our child to the US for school but I bought a life insurance policy thru them. I can forward the agent's name by PM if you want. Yes please Mike many thanks Link to comment Share on other sites More sharing options...
sonjack2847 Posted February 1, 2016 Author Posted February 1, 2016 Well I contacted 3 companies and only one has made direct contact with me which we the person who Mike B put me onto. BDO and Philam life have sent computer generated replies but have not followed up. So I say what a shower of chit and I wont be using them. Link to comment Share on other sites More sharing options...
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