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Investing in an education policy
Rank: Member Joined: 2/20/2007 Posts: 767
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The only insurance worth taking is commodity insurance ( e.g house, vehicle, machinery) , health insurance and life assurance ( pure whole life or pure term life). All other forms of insurance are a rip off. They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Member Joined: 1/27/2012 Posts: 851 Location: Nairobi
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If one knows when they will die/be permanently incapacitated, no need for insurance.
But for the mere mortals like me, i don't want "THINGS TO TAKE CARE OF THEMSELVES" when i'm gone.
That's just being too irresponsible.
Do what you can, the rest God will take care. Just as the insurance co. could collapse, so do the plots, they could be grabbed or turn into another "Karen land".
After one has died, there are succession issues, getting grant. How long does that take? 6 months at the earliest? Then a few more months before actaul selling of the plot?
Where will the kid[s] be all that while? Hibernating?
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Rank: Elder Joined: 9/15/2006 Posts: 3,907
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radio wrote:muganda wrote:An education policy can be translated as - discipline + life insurance (if you die). Poor investment if you ask me. So I'd say put the money monthly by standing order (exercise discipline) into a market equity fund of your choice (e.g. Stanlib) then buy a small life insurance package (if you don't have one) Your children should appreciate their parents wisdom in time  @muganda, can you tell me a little more about this STANLIB Equity Fund. From their website, they have not mention the interest rates. Do you know how much interest rate they are paying? Ooops @radio, missed your query. Oh just picked an equity fund from the top of my head. StanLib were advertising, well backed, strong organization... http://www.stanlib.com/Kenya/Pages/Products.aspx (click on Equity Fund) http://www.stanlib.com/K.../Brochures/Brochure.pdf (Brochure)
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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mkeiy wrote:If one knows when they will die/be permanently incapacitated, no need for insurance.
But for the mere mortals like me, i don't want "THINGS TO TAKE CARE OF THEMSELVES" when i'm gone.
That's just being too irresponsible.
Do what you can, the rest God will take care. Just as the insurance co. could collapse, so do the plots, they could be grabbed or turn into another "Karen land".
After one has died, there are succession issues, getting grant. How long does that take? 6 months at the earliest? Then a few more months before actaul selling of the plot?
Where will the kid[s] be all that while? Hibernating? These people rubbishing insurance are single men and women of wazua who do not have kids! If Obiero did it, Who Am I?
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Rank: Elder Joined: 12/17/2009 Posts: 3,583 Location: Kenya
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mkeiy wrote:If one knows when they will die/be permanently incapacitated, no need for insurance.
But for the mere mortals like me, i don't want "THINGS TO TAKE CARE OF THEMSELVES" when i'm gone.
That's just being too irresponsible.
Do what you can, the rest God will take care. Just as the insurance co. could collapse, so do the plots, they could be grabbed or turn into another "Karen land".
After one has died, there are succession issues, getting grant. How long does that take? 6 months at the earliest? Then a few more months before actaul selling of the plot?
Where will the kid[s] be all that while? Hibernating? mambo ya kifo wachana nayo
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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Swenani wrote:[quote=mkeiy]If one knows when they will die/be permanently incapacitated, no need for insurance.
But for the mere mortals like me, i don't want "THINGS TO TAKE CARE OF THEMSELVES" when i'm gone.
That's just being too irresponsible.
Do what you can, the rest God will take care. Just as the insurance co. could collapse, so do the plots, they could be grabbed or turn into another "Karen land".
After one has died, there are succession issues, getting grant. How long does that take? 6 months at the earliest? Then a few more months before actaul selling of the plot?
Where will the kid[s] be all that while? Hibernating? These people rubbishing insurance are single men and women of wazua who do not have kids ] or could be those who's family medical is covered by employer. Dont think that your choice is best. Shake your head and read the title of topic again. "investing in an education policy" Insurance is a BAD investment. Read we all know commodity and medical insrnc are necessary. also depends with age and ability of your children and capabilities next of keen. @sewani .... Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Member Joined: 1/16/2010 Posts: 672 Location: nairobi
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Amani254 wrote:Mjuaaji wacha ujuanji!!!
Why are you comparing apples with nuts? A policy is a form of protection against a risk and that is different from an investment. Of course the same end is met holding all factors constant. Who says plots will forever be lucrative, they are for now and in the foreseeable future but long term, not so certain - money is shifting towards soft businesses.
I say if you can, do both a policy and investments. A policy safegaurds your child's education if you pop today, even before you accumulate enough to buy your plot. Please buy from either Jubilee or CIC .... i will be assured of dividends atleast! Ever wondered why only afew are rich and many poor and middle class? This is the reason ....... Why buy a policy if i can buy the insurance company? God gave me the power to make wealth ... Blessed the work of my hands & enabled be A SELF MADE BILLIONAIRE ...... TO GOD THE FATHER OF MY LORD JESUS CHRIST; BE THE GLORY NOW & FOREVER MORE!
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Rank: New-farer Joined: 5/25/2010 Posts: 27 Location: Nairobi
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Hi Wazuans,
Insurance and Investment are completely different things. Apples and nuts as has been said. The confusion is that the insurers / brokers try to offer a monetary benefit in case the risk does not materialize. The real benefit is if the risk materializes. Ofcourse such monetary benefit is negligible if you consider purely ROE. It only serves to talk about something else other than just dishing premiums and waiting years to get it back with a small thank you for diligently offering capital for another persons investment.
Insurance transfers obligation to the insurer when a risk materializes. If you will be there to meet your child's education expenses fully when they are of age, don't take a policy. If there is a chance (seeing we are mortals) of things not going according to plan, consider a policy.
As has been more wisely said, consider both actually. Don't put all your eggs in one basket.
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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mjuaji wa stocks wrote:Amani254 wrote:Mjuaaji wacha ujuanji!!!
Why are you comparing apples with nuts? A policy is a form of protection against a risk and that is different from an investment. Of course the same end is met holding all factors constant. Who says plots will forever be lucrative, they are for now and in the foreseeable future but long term, not so certain - money is shifting towards soft businesses.
I say if you can, do both a policy and investments. A policy safegaurds your child's education if you pop today, even before you accumulate enough to buy your plot. Please buy from either Jubilee or CIC .... i will be assured of dividends atleast! Ever wondered why only afew are rich and many poor and middle class? This is the reason ....... Why buy a policy if i can buy the insurance company? @Mjuaji. Buy Pan-Africa shares as well and advise accordingly! The opposite of courage is not cowardice, it's conformity.
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Rank: Member Joined: 1/16/2010 Posts: 672 Location: nairobi
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bizbyte wrote:Hi Wazuans,
Insurance and Investment are completely different things. Apples and nuts as has been said. The confusion is that the insurers / brokers try to offer a monetary benefit in case the risk does not materialize. The real benefit is if the risk materializes. Ofcourse such monetary benefit is negligible if you consider purely ROE. It only serves to talk about something else other than just dishing premiums and waiting years to get it back with a small thank you for diligently offering capital for another persons investment.
Insurance transfers obligation to the insurer when a risk materializes. If you will be there to meet your child's education expenses fully when they are of age, don't take a policy. If there is a chance (seeing we are mortals) of things not going according to plan, consider a policy.
As has been more wisely said, consider both actually. Don't put all your eggs in one basket. How about putting your eggs in ONE basket and watching that basket? Spreading yourself too thin doesn't help either. God gave me the power to make wealth ... Blessed the work of my hands & enabled be A SELF MADE BILLIONAIRE ...... TO GOD THE FATHER OF MY LORD JESUS CHRIST; BE THE GLORY NOW & FOREVER MORE!
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