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.
