Aviva has introduced a unique online insurance calculator, Aviva Educost, to measure the appropriate investment requirement by young parents to enable them to plan in advance for their child's higher education.
With the cost of higher education constantly rising, it has become difficult to calculate the amount parents would require, after 18 years, to help their children pursue higher education.
It is an exclusive and simple tool that will help to calculate the amount required to secure children's education. This free-to-use application comes with 20 career options and a comprehensive list of 145 institutes across the world to choose from.
Factoring in the rate of inflation, hidden education costs like coaching / preparatory fee and application charges, cost of living if your child moves to another city or abroad, along with course fees, Educost gives you a fairly accurate idea of the financial implication of your child's higher education.
Vishal Gupta, director marketing, Aviva India, says, ''Education is the bridge between our children's today and their future prosperity. As a parent, you would undoubtedly want to provide your child with the best education. However, with the rising cost of education it is important to know howmuch you need to save in order to plan accordingly. The e-tool - Educost not only helps you define the investment required but also gives an overview of various costs involved if your child wants to pursue any ofthe 20 career options available in the tool.''
Aviva India is a joint venture between one of the country's oldest and largestgroups, Dabur, and Aviva plc, the UK's largest insurance group.