Why protect your child’s education?

Why protect your child’s education?

Why protect your child’s education?

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As the school holidays draw to a close, it’s time to think about getting ready for the new term. This year while you’re buying new uniform, sports kit, stationery and everything else that’s needed, take a moment to think about whether you could still afford to pay the school fees if something happened to you or your partner.

That’s a scenario that Katherine and Tim Norkett considered when they chose to educate their two daughters privately at Churcher’s College in Petersfield, Hampshire. Tim’s cousin had recently died suddenly at the age of 48, so it was sadly something that was fresh in their minds. Tim was the main breadwinner, so they were concerned what would happen to their daughters’ education if anything was to happen to him. Protecting their education was a priority as they felt it would give them the best possible start in life. Following an online search, they took out School Fees Insurance in 2010.

Sadly, Tim died of pancreatic cancer at the beginning of 2017. While he had been ill for some time, his death came as a shock to the family. He’d found it difficult to accept the seriousness of his condition and found it difficult to address financial issues once he was ill. Fortunately, the School Fees Insurance policy sat outside his estate, so the claim could be paid before probate was settled.

While her older daughter, Alice, was now at Cardiff University, her younger daughter, Rebecca, was in her final year at Churcher’s College. The knowledge that Rebecca could finish her schooling in familiar surroundings, supported by friends and teachers, at such a traumatic time took a real burden off the family. The money from the claim meant Alice could stay on at Cardiff and complete an MA in Late Antiquity which she’d always wanted to do. Without the claim, Alice would have had to work for a few years to save up the money to gain her post-graduate qualification.

“You never think something like this will happen to you” says Katherine. “My husband only had a couple of days off sick in the five years before he got ill. There were no warning signs. I would strongly urge anyone in my position to seriously think about putting protection in place for school fees, particularly if you’re relying on the salary of one parent to pay those fees. The premiums weren’t a huge amount and definitely worth every penny.”

“I really appreciated how efficiently my claim was dealt with. At such a difficult time, it makes a huge difference to deal with people who understand what you’re going through and can answer any questions that you have. The money has ensured my girls can finish their education and attain the qualifications to set them up for their adult life.”

To find out more about School Fees Insurance and how it could protect your child’s future visit: ww.sfs-group.co.uk

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