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Insurer Liberty adapts its education benefits to the realities of the pandemic

27 January 2021 Liberty

The COVID-19 pandemic has for now, not only changed the way the traditional schooling system functions but the cost of education as well.

With home-schooling becoming the norm, more parents are opting to pull their children out of traditional schooling and choosing full-time home-schooling rather, a trend previously frowned upon.

"This is the reality that we find ourselves in - getting our children educated from the comfort and safety of our homes. With this in mind we found it necessary to adapt our Educator Benefit which is part of our flagship Lifestyle Protector offering to ensure that we evolve by covering home schooling and distance learning," says Liberty's Kresantha Pillay, Lead Specialist for Lifestyle Protector.

Liberty extended payments for home schooling with registered educational institutions. These benefit payments are paid directly to these institutions in the event of your death or disability, meaning your choices regarding your children’s education remain intact and your child's future is guaranteed.

"Additionally, and perhaps most importantly, is that our Educator Benefit is designed to cover your children's education from pre-primary all the way through to university, which offers parents peace of mind in a time when health and wellbeing are less certain," says Pillay.

Undoubtedly, the painful repercussions of this pandemic have forced many to re-examine their overall budgets, including the cost of education.

Pillay encourages people to speak to an accredited Financial Adviser or Broker to get professional guidance and direction which can help reduce anxiety in these uncertain times.

"Speaking to an Adviser or Broker is a sensible way to get an objective perspective, as well as any specific advice you need to create a secure financial future for you and your loved ones.

During these economically stressful times, when we feel insecure about everything that's happening around us, one thing that is constant is the need to provide our children with a good education, be it at home or in a traditional school environment. Parents want to ensure that their children's schooling needs, including tertiary costs are taken care of, should anything happen to them," Pillay says.

 

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