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    Savings for a child

    The program of savings insurance for a child is designed to create capital for education at the university and provide financial compensation in the event of a child’s health disorder due to accidents or illnesses.

    Figure out the pricing
    Capital for university education

    Such a contract will ensure the accumulation of funds for university tuition and related expenses, as well as the creation of initial capital for the child.

    Protection of the ultimate savings goal

    In the event of unforeseen events involving the parents, such as loss of life or total disability, the company will cover the contract independently.

    Insurance protection for the child

    In case of injuries or illness of the child, parents receive a monetary compensation for medical treatment.

    Protection against inflation

    The payment of additional investment income will preserve the funds from depreciation. More information about the Investment Policy can be found here.

    Financial compensation from the Government

    Increasing investment returns is possible through the reimbursement of tax credits from the Government.

    Three insurance currencies

    An insurance contract can be issued with a linkage to the hryvnia, dollar, or euro.

    More benefits
    We suggest several countries that you can consider for your child’s education. Prices are provided for reference. All details regarding education, accommodation, and associated expenses need to be studied separately for each country.
    Ukraine
    Cost of education 35 000 - 100 000 ₴/year
    Cost of living 10 000 - 80 000 ₴/year
    USA
    Cost of education 20 000 - 70 000 $/year
    Cost of living 500 - 9 800 $/year
    Poland
    Cost of education 2 200 - 8 000 €/year
    Cost of living 300 - 1 000 €/year
    Canada
    Cost of education 15 000 - 30 000 $/year
    Cost of living 9 000 - 12 000 $/year
    United Kingdom
    Cost of education 10 000 - 20 000 £/year
    Cost of living 800 - 1 000 £/month
    Germany
    Cost of education 6 500 - 26 000 €/year
    Cost of living 500 - 600 €/month
    Administrative fee 100 - 350 €/semester
    France
    Cost of education 2 770 - 3 770 €/year
    Cost of living 9 900 €/year
    Italy
    Cost of education 950 - 20 000 €/year
    Cost of living 12 000 €/year
    Denmark
    Cost of education 6 000 - 16 000 €/year
    Cost of living 14 400 €/year
    Finland
    Cost of education 4 000 - 18 000 €/year
    Cost of living 9 600 €/year
    Using the savings calculator for a child, you may calculate the amount of money you need to set aside right now. It’s better to start early, as creating such savings will not be “painful” for the family’s budget.
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    Please, fill in the obligatory field, so we could calculate the cost of education for your child

    Why insure your child and save money for their education?
    From this short video, you will learn about the savings and insurance program for children, how it works, and its key features.
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    Frequently Asked Questions
    What professions will be relevant in the next 10 years?

    Among the professions that will be relevant in the next 10 years are:

    1. Software Developer
    2. Customer Relations Professional
    3. Internet Content Developer
    4. Online Teacher
    5. Coach/Trainer
    6. Digital Marketing Specialist
    7. Big Data Analyst
    8. Environmental Engineer
    9. Hospital Engineer
    10. Cybersecurity Specialist (Cyber Police)
    11. Waste Management Manager
    12. 3D Architect and Engineer
    13. Smart Device Developer
    14. Image Consultant
    15. Innovation Manager
    16. Genetic Engineer
    17. Psychotherapist
    18. Financial Manager
    19. Web Developer
    20. UX Designer

    This list was compiled by the National Qualifications Agency, which is a permanently functioning collegial body authorized to implement state policy in the field of qualifications. The agency is formed on parity principles with representatives from the Ministry of Education and Science, Ministry of Social Policy, Ministry of Economic Development, the Joint Representation Body of Employers at the national level, and the Joint Representation Body of Trade Unions at the national level.

    What habits should a child develop?

    Originality, initiative, creativity, communication and persuasion skills, attentiveness to details, and the ability to solve complex problems are a short list of habits that a person should possess already. Our children are our future, so it is important for them to be knowledgeable and critical thinkers.

    How to find out the required savings amount?

    We recommend determining the field of study that your child will pursue and the country where they will receive higher education. Additionally, consider related expenses such as accommodation, transportation, meals, extracurricular activities, and more.

    You can find some tuition costs and additional expenses on our page. Use them as a reference.

    Feel free to utilize our calculator for accurate calculations.

    Which risks to choose?

    If you are interested in providing insurance coverage for your child in addition to savings, we recommend reviewing our recommendations in this article.

    How to arrange a life insurance policy?

    Leave a message in the form on this page, and our financial expert will call you to assist in arranging such a life insurance policy.

    Learn more about policy arrangements at the Help Center.

    What documents are required to arrange an insurance policy?

    To arrange an insurance policy, you only need a passport or ID card with proof of residence registration and identification code, as well as the child’s birth certificate.

    For your convenience, install the Diya application, and then all documents will be automatically sent to us, eliminating the need for paper copies.

    What is the taxation of payouts upon the completion of an insurance policy?

    Insurance payouts are subject to personal income tax and military levy.

    The calculation of the tax depends on the type of insurance policy and the form of payment. In the case of a pension insurance policy, it is a long-term contract.

    Single payment form:

    Beneficiary = Policyholder, taxed at 60% of the difference between the insurance payout and the total amount of premiums paid under the contract at a rate of 18% + 1.5% military levy.

    Beneficiary ≠ Policyholder – taxed at 18% on 60% of the insurance payout + 1.5% military levy.

    Annuity payment form, i.e., in installments over a specific period defined in the policy:

    Beneficiary under 17 years of age – installment payments are not subject to taxation.

    Beneficiary’s age from 18 to 70 years – taxed at a rate of 18% on 60% of the insurance payout + 1.5% military levy.

    For more information on the taxation of payouts, please refer to our Help Center.

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    Information on the standard insurance product “TAS-Junior"

    The insurance product “TAS-Junior” belongs to insurance class 19. In compliance with the requirements of Resolution of the National Bank of Ukraine No. 174 dated December 20, 2023, as amended in accordance with Resolution No. 173 dated December 26, 2024, prior to заключення the insurance contract, the consumer must review information regarding exclusions from insured events and grounds for refusal to make insurance payments, limits of the insurer’s liability per insured object, insurance risk and/or insured event, as well as the procedure for calculating and the terms of insurance benefit payments. This information is available by clicking the relevant buttons: “General Terms of the Product” and “Information Document”, as well as in the Insurance Product Disclosure section.

    General Terms of the Product Information Document
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    Дуже часто чуємо це запитання під час вебінарів для батьків, які ми проводимо в рамках нашого проєкту з фінансової грамотності для дітей. Батьки цікавляться цим не лише для власних дітей, а й для себе. Це й не дивно, враховуючи що більшість з нас в дитинстві не отримала необхідний базис знань – тож ми можемо бути […] Read more

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    it worth considering saving money for a child's education during the war?

    It may seem like an untimely question. But is that really the case?

    According to the European Commission, during the period from February 24, 2022, to January 31, 2023, 737,400 Ukrainian students have already been integrated into the school systems of EU countries. In fact, this number is even higher because it does not include data from the United Kingdom, the United States, Canada, and other countries where Ukrainians have migrated in large numbers, as well as data from Russia and Belarus, where our citizens have been deported.

    New realities and challenges

    Today, Ukrainians need to not only organize the process of their child’s education but also adapt them to new realities, address their psychological well-being, and plan their time in a way that allows them to experience their childhood.

    A life insurance policy can help solve part of the financial issues. This instrument enables you to accumulate a starting capital for your child and financially protect their health.

    This instrument helps create savings without putting a significant strain on the family budget. It can be challenging to allocate a large sum of money for higher education or another school all at once, but by setting aside small amounts over several years, it becomes achievable for the majority of Ukrainian families.

    Education is essential. Therefore, prepare for the future in advance. After all, the future will come, and you will have a starting capital.

    Questions that arise for parents

    How to decide on the profession to choose for your child? How much money to save? How to arrange an insurance policy? Check out the answers to these questions on this page, as well as our blogs:

    More information in the Parents section.

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