Describe Fiscal Education Life And Education Insurance - 550 Words

Describe Fiscal Education: Life And Education Insurance (Essay Sample) Content: FISCAL EDUCATIONName:Institution Affiliation:Instructor:FISCAL ISSUEINTRODUCTIONIt is the wish of every parent that their children succeed in life, particularly in education. Parents dream big for their children. The death of the parent substantially impact on the financial resources of the family (Finch Mason 2013). The impact could challenge the education of the children. Many parents have taken precaution to protect their children from risk- death of parent.PROTECTING CHILDREN FINANCIALLYLife and education insuranceParents have opted to take insurance cover. Insurance requires the parent to pay premium after agreed period of time (Saunders Cornett 2014). The life insurance could be helpful in when the parent dies. It helps blow the burden. The education cover enables the children to continue with their education and to fulfill their dreams despite the death of a parent.Drafting a willInitially a will was considered less significant. Parents have drafted wills to clearly spell out how the children s inheritance should be guarded (Finch Mason 2013). In case of minors, the will stipulates those trustees who take care of the children and continue to educate them.Role modelsThis remains the key to success in life. A disciplined parent in spending and saving inculcate the same in their children. Parents have taught their children how to manage savings. This ensures that incase the parents perishes the child effectively manages his inheritance.IMPACT OF UNPROTECTED ASSETS AND ESTATESUnprotected ass...