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Insurers find out parents' preferences for savings and life insurance for children

More than 60% of residents of large and medium cities of Ukraine consider it necessary to save money to support their children. Both, young parents and mature people share this opinion, according to the website "Forinshurer".
Insurers find out parents' preferences for savings and life insurance for children

Women are more prone to savings for children. 65% of the fair sex responded positively to the question “Do you consider it necessary to save up for the support of children?” The proportion of men willing to make savings for children is also quite high, 60%.

Parents try to give children not only love and attention. Financial security of children’s future is a natural desire. The parents who consider it necessary to do this are better off starting saving as early as possible, insurers say. Endowment life insurance is a good tool for this.

By regularly saving even small amounts for endowment life insurance it will be possible to accumulate a sufficient amount by the right time for any purpose, whether it is a higher education or starting capital for a young family on their wedding day. An accumulative behavioral pattern among parents will teach children a competent and responsible attitude to personal finances from an early age.

Parents of all ages believe it is right to save up money for their children. In group of respondents from 18 to 30 years of age, 64% consider saving for a child necessary. 67% of people aged 30 to 40 years hold this view. Those who are today between the ages of 40 and 50 are most prone to save up for children, 78% of respondents from this age group. 48% of parents between ages of 50 and 60 and 37% of those over 60 also agree with this statement.

Survey respondents ready to save up for children were also asked to name the purposes of savings. 70% of participants were ready to save money for their children’s education, 53% - an apartment for the child, 14% - money by the moment the children grow up, 12% - treatment, and 8% - inheritance.

Photos are from open sources.

Source: https://forinsurer.com/news/20/06/03/38079

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