bs-preloader__icon
ru kz en

Women think about savings on children's education more often than men

Sberbank Life Insurance Company found out that most parents are ready to form savings for their children education within 6–10 years. The average saving amount for this purpose is about 350 thousand rubles, the organization’s press service reports.
Women think about savings on children's education more often than men

Most parents (90%) want to save 250-500 thousand rubles for their children education. The amounts from 500 thousand to 1 million rubles are saved by 6% of customers, more than 1 million rubles – by 3%. Some clients save more significant amounts for education of their children, but these are single contracts. The largest amount under the Children's Education Plan agreement concluded in 2019 exceeds 30 million rubles.

Women more often think about the need to save money for children’s higher education: in 2019, they issued about 70% of the total number of endowment agreements, men - 30%. However, men are ready to save more significant amounts: they plan to save about 390 thousand rubles on average for their heirs’ education, while women give 310 thousand rubles.

Parents most often think about savings for their children at the age of 36-45 years, this age category accounts for 35% of the total number of contracts concluded in 2019. The parents aged 26–35 years form 31% of contracts. Endowment agreements on children’s education are also concluded by people of a more mature age. Thus, about 3 thousand contracts in 2019 were concluded by customers older than 56 years.

Almost half of the customers, 48% of the total number, enter into 6–10 year endowment contracts. About 30% clients plan to form accumulations within 11-15 years, 20% - less than 6 years, and 2% 16-20 years. The parents from the Moscow region (Moscow and the Moscow region) are the most active in saving up for higher education, about 23.3 thousand customers (25%), Krasnodar Territory - 3.8 thousand customers (4%) and Rostov Region - 2.7 thousand clients (2.5%).

Source: https://www.sberbank-insurance.ru/news/24_01_20

Photos are from open sources.

Share
read also
What is life insurance?
What is life insurance?

There are 373.5 million insurance policies in the United States. It is 100 million mo...

How to find the best life insurance policy
How to find the best life insurance policy

Life insurance comes in many forms. Therefore, it is important to choose the right po...

Why you should choose investment life insurance to accumulate capital
Why you should choose investment life insurance to accumulate capital

Insurance, investment, and emergency savings are three pillars of any sound financial...

The most interesting materials of the site you have in the mail! Subscribe to the newsletter.

ASK A QUESTION TO THE EXPERT
ASK A QUESTION TO THE EXPERT
Submit your application