Survey: Do you recommend getting an educational plan or insurance for your family?

One of my co-parents at Toddlers Unlimited who works for an insurance company has sent me an educational plan and life insurance quotes that I can consider for Bela and my family.

As I was reviewing the proposal, it made me realize that these types of insurance are good as it offers accident and death benefits so my family is secured whatever happens to me or my husband.

But my husband and I have mixed thoughts on educational plans and life instance as we don’t find insurance companies here in the Philippines to be reliable. I remember just recently one of the insurance company declared that they are bankrupt and so their clients was not able to get anything for the educational plan of their kids. So when we heard about this, it really made us think twice on weather insurance and educational is good for us.

So I’m making a survey here. Did you get your kids an educational plan or did you just open a savings account for them (this is what we have right now for Bela)? Or did you get insurance for you and the rest of your family?

Feel free to leave your comments here. This will really help us decide if we really should get an educational plan for Bela or not.