Good Housekeeping (Philippines) - - Your Money -

Ev­ery par­ent wants to see his or her child be­come fi­nan­cially sta­ble. But what if some­one told you that your child could have at least a mil­lion in the bank one day? It’s not so far-fetched with prod­ucts like In­su­lar Life’s First Mil­lion Fund. In­tro­duced in 2016, this in­vest­ment-linked in­surance pol­icy helps young­sters save their first mil­lion in about eight years.

How does it work? Mom and Dad jump­start the in­vest­ment by de­posit­ing the first P500,000—at one go or in in­stall­ments—and the kids build up the rest as soon they start mak­ing their own money, adding as lit­tle as P3,000 each month (or P100 a day!).* And be­cause the fund is an in­surance prod­uct as well, you and your child can sleep well at night know­ing your hard-earned money is pro­tected.

Help­ing your child make his first in­vest­ment can help him de­velop good money habits.

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