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Only 39% of UAE families save up for their children's education with help of life insurance

Higher education tuition fees are a major concern for 70% of UAE households. Such data was obtained as a result of a survey commissioned by Zurich International Life, writes Zawya.
Only 39% of UAE families save up for their children's education with help of life insurance

The survey covered more than 1.5 thousand families in the UAE, Saudi Arabia, Qatar and Bahrain.

“Our recent survey reveals some interesting facts. For example, 62% of parents in the Gulf countries use their monthly income for school-related expenses, while others rely on personal savings or loans,” the report says.

With the cost of education rising and global uncertainty parents should seriously consider investing in their children's future. “There are convenient and attractive savings plans for children available today. Life insurance is ahead of mutual funds and banks, as the savings policies necessarily guarantee payments to children. The programs fully protect you and secure your child's future,” commented Rainer Britto, Head of Distribution at Zurich International Life.

41% of the survey participants intend to send their kids to study abroad. The USA, Canada, UK and India are the most popular destinations.

Source: https://www.zawya.com/en/business/education/only-3-in-10-parents-in-uae-have-childrens-education-plan-dnr9cr6b

Photos are from open sources.

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