Describe Fiscal Education: Life And Education Insurance (Essay Sample)

FISCAL EDUCATION
Name:
Institution Affiliation:
Instructor:
FISCAL ISSUE
INTRODUCTION
It is the wish of every parent that their children succeed in life, particularly in education. Parents dream big for their children. The death of the parent substantially impact on the financial resources of the family (Finch & Mason 2013). The impact could challenge the education of the children. Many parents have taken precaution to protect their children from risk- death of parent.
PROTECTING CHILDREN FINANCIALLY
Life and education insurance
Parents have opted to take insurance cover. Insurance requires the parent to pay premium after agreed period of time (Saunders & Cornett 2014). The life insurance could be helpful in when the parent dies. It helps blow the burden. The education cover enables the children to continue with their education and to fulfill their dreams despite the death of a parent.
Drafting a will
Initially a will was considered less significant. Parents have drafted wills to clearly spell out how the children s inheritance should be guarded (Finch & Mason 2013). In case of minors, the will stipulates those trustees who take care of the children and continue to educate them.
Role models
This remains the key to success in life. A disciplined parent in spending and saving inculcate the same in their children. Parents have taught their children how to manage savings. This ensures that incase the parents perishes the child effectively manages his inheritance.
IMPACT OF UNPROTECTED ASSETS AND ESTATES
Unprotected ass...