thread: What are the best educational insurance plans in the UK?

  1. #1
    Registered User

    Dec 2010
    1

    What are the best educational insurance plans in the UK?

    I am asking this on behalf of my aunt. She wants to give his grandson a present and because her daughter has always wanted a decent education for her son but she is not sure if she can afford it. My aunt wants to buy an educational insurance plan for him so she can pay for that every now and then and give her daughter some peace of mind. He is 2 yo now and we are looking for the best options. I really don't know if this is kind of insurance or a saving account or even it can be done internationally or not. Thank you.

  2. #2
    Registered User

    Jan 2006
    8,369

    I would have thought a trust fund would be best if this is for university, if for regular schooling then it would have to be in a normal account. A trust fund or child's bank account can be paid into internationally.

    Maybe the best bet would be an ISA in your cousin's name: your aunt could give her the money to put into that, up to £7000 a year at current rates. That is tax-free savings for adults and can be accessed with minimal notice if you get the right account.