NEW DelHI: Insurance sales have come out as a way to save and invest for parents after the COVID-19 epidemic. According to research, insurance is a cheap and reliable tool to achieve future goals. A ‘Future Fearless Survey’ study conducted by Aegis Federal Life Insurance and ‘YouGov’ India shows that saving money on education has been more important than other goals in life.

This research has been conducted to understand how the epidemic could affect the financial preparedness of Indian parents in planning for children’s education. The survey was conducted online in 11 cities across the country. In this case, the opinion of 1,333 such parents whose children were at least 10 years old was taken. The study found that because of the rising cost of education, parents are putting more emphasis on education than on other goals such as marriage or employment. It also includes the desire of parents to provide a good education for their children.

Two-thirds of parents surveyed invested in life insurance responses such as affiliate insurance units (ULIPs), reimbursement plans and payment plans to meet their children’s educational goals. Many parents interviewed said that they would like to save for their son’s college education or higher education. Forty percent say they save for their children’s school fees. Many parents have already made special arrangements for their child’s education.