MANILA, Philippines – Filipino parents work hard to set up their child for the future. And they know that a good college education is key to ensuring their child’s success. But with tuition fees increasing yearly at a rate of about 10 percent, sending their child to the college of their choice might just be a dream for many.
Life insurance firm Troo recognizes this need and is helping give future changemakers a chance at a better future. That is, through its latest financial solutions offering – Troo Graduate, a traditional life insurance policy that insures the child as well as acts as a college savings plan.
“In creating solutions, we always have our customer’s needs in mind. And to most Filipinos, a college education is the most important stepping stone to a better life. We designed Troo Graduate to be affordable to the average Filipino so that more Filipino children can get the college education they deserve. With Troo Graduate, we believe that the next generation of Filipinos will have the opportunity to change their world for the better,” Troo President & CEO Hans Loozekoot said.
Troo Graduate is designed to be K-12 compliant and offers parents a way to cope with rising college fees with the guaranteed five (5) annual payouts. The annual payouts increase every year while the child is in college, while the premium payments remain the same for the entire term of the policy. And for a minimum cover of ₱250,000, parents can pay as low as ₱11,094 annually.
With Troo Graduate, parents can start planning their children’s college education as soon as their child is 30 days old until age 11. It’s always better to start planning as early as possible. This gives the parent more time to save up for college. It also means lower premiums.
“Education is a priority for Filipinos, and for many, a college education is a sure step to a better future. We have a deep sense of responsibility to see our children get to college and realize their dreams. We want an assurance of a better future for them,” Milot Valencia, Chief Bancassurance Officer of Troo, said.
On its third year of operations, Troo continues to create financial solutions to help Filipinos plan for tomorrow so they can live their best life today. The life insurance company is a joint venture between Ageas, a listed international insurance group with a heritage spanning over 190 years and EastWest, one of the fastest-growing banks in the Philippines.