Savings

Singapore's Child Education Plans Comparison Table


Article Author - Shawn Lee
By Shawn Lee
May 18, 2018

Compare Child Education Savings Plan

The ability to provide for a child's University education is one of parents' top concerns

In 2017, the cost of a 4-year average non-medicine course (tuition fees+living expenses) in Singapore is $65,059.
With the current education inflation rate, this figure is expected to inflate to $131,737 in 2035.

It demands parents to plan and save in advance to provide for their child's education.

If you are looking to get started, we have done all of the math for you. Here are the best Child's Education Savings plans in Singapore!



We compare with the following parameters:

  • Contribution amount: $500/monthly
  • The payment duration for all plans are 10 years.

The Internal Rate of Return (IRR) is used for comparison.


For Boys, we project that the child will enter University at 20 years old.

Age

Aviva MyEduPlan

AXA Early Saver Plan

Manulife Educate

NTUC Vivochild

Tokio Marine TM Kidstart

0 3.68 3.66 3.7 3.79 3.72
5 3.35 3.16 3.33 3.24 3
8 3.15 - 3.17 2.79 2.12
  Learn more Learn more Learn more Learn more Learn more


For Girls, we project that the child will enter University at 18 years old.

Age

Aviva MyEduPlan

AXA Early Saver Plan

Manulife Educate

NTUC Vivochild

Tokio Marine TM Kidstart

0 3.43 3.53 3.46 3.44 3.54
5 3.21 2.85 3.25 2.82 2.55
8 2.7 - 2.78 2.43 1.51
  Learn more Learn more Learn more Learn more Learn more
*With information from www.diyinsurance.com.sg. Figures are compiled on 5 April 2018. **Prices reflected in the table reflect ongoing existing promotions and discounts which are in the knowledge of. Data is generated based on date of birth on 1st January.

Internal Rate of Return (IRR): Discount rate that makes the net present value (NPV) of all cash flows from a particular project equal to zero.

To calculate how much you need for your child's education, use our Education Savings Calculator here

To compare Child's Education plans, click here.

You are advised to approach a financial advisor for his/her opinion on the features, details and current quotes of the products, to determine your needs or if you are considering to purchase, surrender or restructure your existing insurance policies. To seek advice from DIYInsurance, contact us by clicking here.


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