· Parents in the UAE could pay up to AED1 million to fund their child's education from pre-school through to university
· UAE children discuss their aspirations for the future
Dubai, United Arab Emirates - New insight from Zurich – Middle East has found that the cost of putting one child through education from pre-school through to university costs AED 938,599 (USD 255,749). This marks the second consecutive year that education from pre-school through to university could cost families in the UAE almost AED1 million per child.
The figure is based on the total cost of education of two years at pre-school, six years at primary school, six years at secondary school and three years at a UK university.
In the UAE, pre, primary and secondary school costs add up to an average of AED528,486 (USD144,001) per child, a slight increase on last year’s figures. These costs exclude other fees such as the cost of books, trips and uniforms and could increase by up to 40% for top tier schools.
The insight is another example of how Zurich – Middle East works alongside its distribution partners to raise awareness and highlight the importance of financial planning for a child’s education in the UAE.
Commenting on the insight, Walter Jopp, CEO at Zurich – Middle East, said: “At Zurich – Middle East we are focused on providing the best possible protection and savings options to customers to help them put the right savings plan in place, whatever their financial goals. When it comes to education – as this research shows – it is important to start planning early to ensure enough capital is available when your child is ready to start university. Adopting a long-term approach to savings could help fund the best education for your child without worrying about the cost.”
Building on the insight, Zurich – Middle East spoke with a number of UAE students to find out what professions they would like to pursue, and the costs of associated university courses in the UK and US. Top five professions included medicine, computer science, business and management, finance and accounting, and engineering.
Source: http://www.inneruniverse.com/
For more information please click here.
-Ends-
About
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 54,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
About
Zurich International Life is a part of Zurich Insurance Group and fully authorised under the Isle of Man Insurance Act 2008 and is regulated by the Isle of Man Financial Services Authority, which ensures the company has sound and professional management and provision has been made to protect plan holders.
Zurich International Life Limited in the Middle East is registered in Bahrain under Commercial Registration No. 17444, is licensed as an Overseas Insurance Firm – Life Insurance by the Central Bank of Bahrain and in Qatar authorised by the Qatar Financial Centre Regulatory Authority. In the UAE it is registered under UAE Federal Law Number 6 of 2007, and its activities in the UAE are governed by such law.
For media enquiries, please contact:
Havas PR ME
Tel: +971 4 445 6000
Hanin Joudieh
Email: Hanin.Joudieh@havasprme.com
Tracey Scott
Email: Tracey.Scott@havasprme.com
© Press Release 2017
