Every year the number of dropouts from schools and colleges are in increasing trend. Even when the students are willing to continue their studies, they are forced to drop their further studies. The reason for dropping the studies can be several like death or incapability of the guardians and the financial problem. So, to secure the students from being unable to pursue further studies, the idea of education insurance has emerged.
The insurance which is made to manage the amount for the education is known as education insurance. Generally, in this insurance, parents of any children should make insurance for fixed period of time for their education. Parents have to keep the child’s name as his representative. While insuring the children with regard to the education, the parent will need to pay some amount regularly to the insurance company which is also known as insurance premium.