Secure Your Child’s Future: 16 Educational Plans in the Philippines

Once you compute all the expenses, sending your child to college may seem unaffordable. Whether you plan to enroll your child in a public or private school, education in the Philippines is not cheap. Fortunately, many life insurance companies offer some of the best educational plans in the Philippines.

An educational plan can help you develop a disciplined savings plan that will pay for your child’s education. Let's explore them in this guide.

What are Educational Plans and How Do They Work?

An educational plan is a savings, insurance, and investment plan that helps parents save funds for their child’s college education.

An educational plan's savings and investment portion builds up a fixed fund for a certain period, while the insurance portion provides life protection for the payor, usually the parent, during the plan term. 

Should anything happen to the payor that results in permanent disability or death, the payor or the beneficiaries (in this case, the child) is guaranteed a payout. 

Upon the educational plan’s maturity, the payor can use it to pay for the child’s college education. 

What is the Importance of Educational Planning in the Philippines?

Educational planning ensures you can pay for your child’s education. With it, you can:

• Set aside money for your child’s education. If you get an educational plan, you make it mandatory to set aside a specific amount for it each month. As each year passes, you’ll save enough to afford your child’s education.
• Save money by avoiding high-interest loans. Because you already have an education plan, you won't need to depend on high-interest loans to pay tuition and other school fees.
• Choose the best education for your child. Once you have an educational plan for your children, you can choose the best learning institution.  
• Break barriers in your child’s access to education. With education planning, your child’s education won’t be delayed or impeded due to financial constraints. Your child’s educational plan will cover most, if not all, school expenses.  

👍 Advantages of Getting an Educational Plan

Educational plans can help secure your child’s education. The sooner you get one, the more affordable the premiums and the higher the payout. 

You can also add riders to the educational plan to meet your child’s needs. Riders provide insured parties with additional coverage options^[1] at an extra cost. 

With an educational plan, you don’t need to worry about where you’ll get the money to pay for your child’s tuition. Maturity benefits are usually enough to cover your child’s entire college education. Simply put, your child can still attend college even if you’re no longer around.

👎 Disadvantages of Getting an Educational Plan

Educational plans cost a lot and typically eat up a vast portion of the family budget, especially if the plan has a lot of riders or add-ons. 

Also, educational plans will only cover some of the school fees. You’ll still need to pay for food and transportation allowance, dorm rent, and other miscellaneous expenses out of pocket. 

And since educational plans are an investment, they carry an amount of risk. Hence, you’ll either earn more or just receive the face amount, which is the gross total amount stated in an insurance agreement or policy.^[2]

Are Educational Plans Worth It? 

Yes, especially if you want to ensure your child gets a quality education without worrying about the financial burden.  

After all, it’s every parent’s dream to see their child finish college. But the sad reality is that not all Filipinos can afford the cost of education in the Philippines.

Furthermore, tuition fees today will be different from 10 or 15 years from now. Because of inflation, tuition, miscellaneous fees, and the cost of goods and services will continue to rise. It can be financially challenging to pay for these things when you’re also growing older and future earnings are not guaranteed.

This is where educational plans can help. 

Related: 21 Perks You Can Score with a Student Discount in the Philippines

16 Best Educational Plans in the Philippines

What is the best educational plan in the Philippines? Check out this list of recommendations.

📌 Manulife Education Builder 

With Manulife’s Education Builder, you can build your child’s education fund by investing in professionally managed funds. Since it comes with life insurance coverage that protects your child’s future and covers their college education no matter what happens, Manulife educational plan costs in the Philippines are well worth your money.  

Key Features and Benefits 

• Savings that can fund your child’s college education, whether they choose a four or five-year course 
• Maximized fund growth through a mix of global and local investments available
• Extra protection for your investment should anything happen to you 
• Premium waiver or cash support for your child until age 21 or 22 in case of your death or disability 

Pros: You can choose how much, how long you’ll pay for the plan, and how you want to receive the payouts. You can also select the education riders you wish to add depending on your needs. 

Con: As this plan is investment-linked, projected returns are not guaranteed and will depend on market conditions. 

📌 AXA MyLifeChoice for Education 

AXA, one of the top insurers in the country, offers an insurance and investment plan designed for your child’s education called MyLifeChoice for Education. This product comes with a rider that will provide guaranteed payouts in case of your death. 

Immediately after the payor’s death, the payouts can help cover the child’s education-related expenses until they graduate. 

Key Features and Benefits 

• Annual lump sum to pay for your child’s education until they graduate (in case of your death)
• Customizable coverage up to 25x your basic annual premium
• Comes with riders like cash benefits when you sustain injuries due to an accident and future premium payment waivers in case of permanent disability
• Bonus equal to 70% of your first-year premium when you pay on time, don’t withdraw, and don’t go on premium holidays 

Pros: Since it’s customizable, you can choose a plan depending on your payment capacity. You can also make additional investments anytime via top-ups. 

Con: It’s only available in a seven-year payment term, which may mean expensive premiums.

📌 AIA Future Scholar 

Want to get a Philam educational plan in the Philippines? Philam Life rebranded to AIA Philippines in 2021.

Instead, check out the AIA Future Scholar plan, a savings and investment product that can be an excellent solution for parents building an education fund. AIA Future Scholar offers guaranteed education benefits at affordable premiums starting at ₱20,000 annually. 

Key Features and Benefits 

• Guaranteed cash payouts twice a year for your child’s college education for four years starting at 18 years old
• Expertly managed funds 
• Long-term growth potential 
• Optional life insurance
• Waived premium payments in case of your unexpected death or disability

Pros: This is an affordable product if you want to ensure your child’s education in the future. It provides life protection and guarantees cash payouts when your child turns 18. You also have two payment term options: five years or until your child turns 17 years old. 

Con: Benefits are not guaranteed and will depend on your chosen funds’ performance. 

📌 Sun Dream Achiever 

This savings plan and life insurance product from Sun Life helps parents like you save up for your child’s education while also giving you and your loved ones financial security. It provides guaranteed cash benefits, so you won’t have to worry about paying for your child’s needs in the future. 

Key Features and Benefits

• Life insurance coverage throughout the policy
• Option to add riders for additional protection for contingencies (disability, accident, etc.)
• Flexible premium payment options: annual, semi-annual, quarterly, or monthly terms (monthly payments through auto-debit or auto-charge) 
• Personalized payout schedule anytime between the 12th to the 17th year of the policy’s effectivity date  

Pros: This flexible plan combines life insurance, savings, and educational plans. This can help address any financial emergency or need in the future. 

Con: The long-term payment commitment can be daunting for some Filipinos whose financial capabilities can change anytime.

📌 Sun FlexiLink by Sun Life

This investment-linked life insurance plan allows you to pay for your child’s education while enjoying life protection. It also offers different investment options to help grow your money over time to pay for school expenses and secure your family’s future. 

Key Features and Benefits

• Allows you to build funds for all your future needs, including your child’s education or your retirement
• Investment fund options depending on your risk appetite and investment goals 
• Professional fund managers to help you grow your money
• Life insurance benefit equivalent to at least the plan’s face amount
• Option to add riders for additional protection for contingencies (illness, disability, or accident)
• Option to make a partial fund withdrawal for emergencies 
• Easy top-ups anytime to increase your fund’s value
• Loyalty Bonus if your policy is active for at least 10 years 

Pro: It’s a flexible plan that you can use for your child’s education, other financial goals, and even emergencies. 

Con: Like the Sun Dream Achiever, it’s a long-term payment commitment that may not be suitable for Filipinos who prefer short-term payment periods.

📌 Sun Smarter Life Elite 

This protection and savings plan from Sun Life provides double life insurance coverage and cash benefits, which you can use to fund your child’s education needs. 

Key Features and Benefits 

• Option to accumulate cash benefits to use for future needs 
• Guaranteed cash benefits in your lifetime starting on your plan’s sixth year and every two years subsequently
• Living benefits like dividends that you can use for emergencies, paying future premiums, or increasing insurance coverage
• Life insurance coverage up to age 100 or maturity 
• Insurance benefit worth twice your plan’s face amount

Pro: The plan’s benefits can be used for purposes other than education, like retirement.

Con: Long-term payment is a commitment.

📌 Sun Accelr8 

Sun Life offers another product that works as a protection and savings plan. Its guaranteed cash benefits can help you fund your child’s education, from tuition to school-related expenses. This matures after 20 years.

Key Features and Benefits 

• Lump sum guaranteed cash benefit that’s worth 102% of your face amount after your policy’s 20th year ends
• Special bonus after eight years, after which you’ll earn dividends
• Increased life insurance coverage of up to 228% of the face amount starting on your policy’s ninth year 
• Comes with optional riders to cover accidents, illnesses, and disability

Pro: The plan is flexible since you can also use it for retirement and other life milestones.  

Cons: Payment is only for eight years, which may mean high premiums. Moreover, the special paid-up bonus and the dividends are not guaranteed.

📌 PRULink Elite Protector Series

Aside from enjoying life protection, the PRULink Elite Protector helps you save, invest, and build funds faster to meet all your major financial goals, including paying for your child’s education. 

Key Features and Benefits 

• Eligible for applicants aged seven days to 70 years old
• Greater potential for wealth accumulation
• Maximum life protection and death benefits 
• Coverage up to age 100 
• Payable in five, seven, 10, or 15 years 

Pro: It’s a flexible savings and investment option if you have medium to long-term financial goals, like funding your child’s college education, purchasing a house, or even building a retirement fund.

Cons: Since this is an investment-linked product, projected returns are not guaranteed. The investment is affected by market conditions. Additionally, you must top up more frequently and pay higher premiums to build your funds faster.

📌 PRULink Exact Protector 

While an investment-linked life insurance plan, the PruLink Exact Protector can double as an educational plan via its insurance benefits and earnings. After all, this product is designed for medium to long-term life goals. 

Key Features and Benefits 

• Maturity benefit includes the sum assured and the fund value
• Accelerated total and permanent disability cash benefit
• Accidental death and disablement cash benefit 
• Coverage up to 100 years old
• Payable in five, seven, 10, or 15 years

Pros: Pay low premiums starting at ₱22,000. It also comes with a wide range of riders to complement your insurance plan. 

Con: This offers no specific benefits designed for education.

📌 PNB AZpire Wiz

The PNB Azpire Wiz is an educational plan linked to an insurance policy. For as low as ₱2,500 per month, you’re assured that the plan will answer all of your child’s educational needs. 

Key Features and Benefits 

• Option to switch investment plans up to four times a year 
• Additional 5% bonus of your total fund value for the last 120 months
• Additional 2% of your premium when you start to pay from your sixth year onwards
• Choose regular or lump-sum top-ups 
• Life insurance protection for your child with coverage of up to 5x the educational plan premium

Pros: Enjoy lower fees on premiums when you save more and additional bonuses when you continuously pay your premiums, which are also easy on the pocket.  

Con: As PNB AZpire Wiz is a unit-linked insurance product, many factors can affect its fund value.

📌 PNB Allianz Achievers 

Help your child achieve their dreams by purchasing a five-year educational savings plan like the PNB Allianz Achievers. Send your child to the best school by paying the premiums for just five years. Aside from the education fund, your child is protected with life insurance until 21 years old. 

Key Features and Benefits

• Issue age from seven days old to 12 years old 
• Graduation Bonus of 20% of total basic annual premiums 
• Five years to pay and a minimum policy amount of ₱200,000
• Annual, semi-annual, and quarterly modes of payment
• Ascending endowment payouts after the five-year payment period: 
  • Age 17 = 40% of policy amount 
  • Age 18 = 45% of policy amount
  • Age 19 = 50% of policy amount
  • Age 20 = 55% of policy amount 
• Life insurance coverage equivalent to 200% of the face amount for your child until 21 years old

Pro: Total benefits range from 220% to 240% of the policy amount. 

Con: The short payment period and minimum policy amount can be financially challenging for parents on a tight budget. 

📌 Singlife Cash for Goals (Education)

To help you become financially ready for your child’s future, Singlife offers Cash for Goals (Education). It’s one of the best options for parents who want a simple and no-frills approach to education plans since it’s readily available on GCash and doesn’t require entry fees. 

Key Features and Benefits

• Financial protection that assures your child’s education no matter what happens 
• More competitive earnings than traditional savings accounts
• Budget-friendly at a low cashout of only ₱2,500 (one-time initial investment) and additional investments at ₱500 per month 
• Automatic deduction of premiums from the parent's GCash account
• Option to make a partial fund withdrawal for emergencies without any charges

Pro: It’s one of the cheapest educational plans in the Philippines. Purchase it with a fully verified GCash account for a very affordable price. 

Con: Parents should be no older than 55 to buy this product.

📌 Paramount Direct Dream College Plan

With Paramount Direct Dream College Plan, you pay just one premium to enjoy comprehensive coverage. This educational plan is created for parents or guardians between 20 and 55 years old who have children aged one month to 10 years old. Once your child turns 17, they can enjoy College Cash Benefits and receive a Guaranteed Graduation Gift. 

Key Features and Benefits

• Issue age of 20 to 55 years old for parents or guardians with dependent children aged one month to 10 years old
• College Cash Benefit twice a year from age 17 to 20 
• Graduation Gift of up to ₱300,000 at age 21
• Contingent Benefit for your child twice a year until age 16 if you pass away before the end of the payment period
• Life insurance coverage until 21 years for your child 
• Five-year paying period 
• Annual, semi-annual, quarterly, and monthly payment modes

Pro: It’s a comprehensive yet affordable educational plan, with which you can choose from four different package options and payment modes. 

Cons: Parents/guardians should be no older than 55 to buy this product, and only children up to 10 years old are eligible.

📌 Etiqa Our Gift

Etiqa, a leading life and non-life insurance company in the Philippines, offers Our Gift, an insurance plan designed to secure your child’s educational needs. It offers not just education fund benefits but also life insurance coverage for your child. 

Key Features and Benefits 

• Education fund benefit given in six guaranteed yearly payouts once the child reaches 16 years old
• A bonus, made of the accumulated dividends, to be given to the child when they reach 25 years old
• Life insurance coverage for the child until the age of 25 
• Comes with a payor’s rider, which pays for all the future life insurance premiums that will fall in case the payor dies or becomes permanent disabled

Pros: Payment period is up to 10 years. Payment terms are available in quarterly mode. 

Con: Only children until 10 years old are eligible for the plan.

📌 PhilLife VISA College Plan 

The PhilLife Valuable Insurance and Savings Accumulator (VISA) Plan is a good candidate if you’re looking for the best educational plan in the Philippines. While it’s primarily designed for education, it comes with insurance coverage, making it a flexible option. 

Key Features and Benefits 

• Increasing cash payout to be given to the insured from 18 years old to 21 years old
• Beneficiary receives a graduation gift at age 22 
• High minimum coverage of ₱100,000
• Comes with a built-in terminal illness benefit that can advance a maximum of ₱2 million or 50% of the face amount

Pro: This product comes with useful riders like Accidental Death Benefit (ADB) up to 65 years old. 

Con: Only children until 10 years old are eligible for the plan.

📌 MCBL Invest 

Offered by Manulife Chinabank Life Assurance Corporation, MCBL is a life insurance plan with investments. This product is designed to boost your funds faster with low charges. Use the earnings you receive from this fund for your child’s education. 

Key Features and Benefits 

• Access to Manulife-China Bank Life’s funds that invest in some of the world’s most profitable companies
• Loyalty bonus added to your fund value at the end of your fifth year (granted that you pay your premiums)
• Customizable protection coverage 
• Life insurance with built-in benefits that cover accidental death and disability

Pro: It’s a flexible product whose earnings you can use for other life milestones.  

Cons: Amount invested is exposed to certain risks and earnings are not assured.

To quickly check your best options for educational plans in the Philippines, refer to this table summarizing their benefits:

What to Look For When Choosing Educational Plans in the Philippines

👉 Payment Option

Educational plans in the Philippines are long-term financial commitments. Getting one means making sacrifices and putting away a certain amount of money to pay the premiums. 

This is why you need to get a payment option that matches your paying capacity. Choose a payment plan according to your financial capability, whether monthly, quarterly, semi-annually, or annually. 

Also, consider an educational plan’s grace period and reinstatement policies. Find an educational plan provider that can help you continue your plan without too much hassle in case you miss a payment. 

👉 Withdrawals and Payouts

Insurance providers have different standards when it comes to payouts. Some offer fixed payouts a few years after you purchase the plan or immediately after your plan starts. Others also provide payouts when your child reaches a certain age.

Sometimes, emergencies will require you to withdraw from your policy partially. It’s a good idea to go for an educational plan with this option.

👉 Riders or Add-ons 

Getting an educational plan in the Philippines is already a huge step toward securing your child’s future. But if the budget permits, you may also want to avail yourself of additional layers of protection. 

Additional benefits like hospitalization, critical illness, disability, accidental death, or premium waivers further ensure your child will be financially taken care of when you’re no longer around. 

👉 Fund Growth

Choose a plan that will let your money grow over time. It will allow you to earn more than what you pay while also giving you a comfortable cushion against unexpected emergencies. It will help you achieve your fund goals faster, too. 

👉 Educational Plan Tenure

Choose a plan that will cover your child’s entire high school or college education, or both, depending on your needs and preferences. The best way to do this is to get an educational plan while your child is still very young (as young as seven days old) so that you can pay for at least 10 years with premiums that are still affordable. 

Related:11 Scholarships in the Philippines: Eligibility, Requirements, More

How to Get the Right Educational Plan in the Philippines

Made up your mind about getting an educational plan for your child? If you're ready to avail of a policy, here are some essential steps to ensure you'll get the right one.

1. Choose the school you want your child to attend. After you decide on a school, find out the total cost of education in that school. 
2. Compound that amount with the average increase of tuition and other school fees in the Philippines, which is about 10% year-over-year.^[3] This is how much you need to save for your child’s education fund. 
3. Determine how much you can afford to set aside for the plan and how often you want to make your payments.
4. If you want additional benefits, decide which ones will be most helpful to your child if you’re no longer around.
5. Shop around for educational plans in the Philippines from different providers and compare packages.
6. Struck by analysis paralysis? You don't have to narrow down the best educational plan in the Philippines at once, especially if you don't know which one to choose. In the meantime, start saving. Consider putting some of your money in the bank, which can earn compound interest over time.
7. Consult a financial advisor from the educational plan provider for more details. Or submit an accomplished online form on the insurance company's website, after which the provider will connect you to one of its advisors.
8. The financial advisor will ask you to fill out forms and make your initial premium payment to process your policy.

Read more: Most Expensive Schools in the Philippines: How Much Tuition Costs

FAQs on Educational Plans in the Philippines

1. How much is an educational plan in the Philippines? 

The price varies depending on several factors, like the insurance provider, policy amount, payment period, and add-on coverages or riders. It will also depend on whether the educational plan has an investment component because it will require you to make top-ups aside from your regular premiums. 

2. What are the inclusions of an educational plan? 

An educational plan should provide a guaranteed lump sum or cash payouts upon plan maturity to help you cover the cost of your child’s high school or college education. Many educational plans also offer life insurance coverage with optional add-ons or riders for investment protection.  

3. How long do you pay for an educational plan?

You typically pay for an educational plan for a minimum of five years up to 15 years. It depends on how early you get one for your child and how many years you have before they enter high school or college.

Related: 11 Study Abroad Programs for a Global Educational Experience

Final Thoughts 

When started early, educational plans in the Philippines can help parents save money. The longer you allow your investments to grow, the bigger the potential returns. 

Should you fall on hard times and find it hard to pay the premiums, don’t let your policy lapse. If you charge premium payments to your credit card in the meantime, settle them immediately to keep balances from piling up and becoming unmanageable debt. 

We hope you can choose the right product from the abovementioned educational plans. Consider your budget, needs, the insurance provider, and the plan’s benefits. And don’t be afraid to ask questions from your financial advisor so that everything is clear to you. 

Alternatively, you can apply for a personal loan to fund your child's education. Compare your options below:

Provider	Loan Amount	Monthly Add-on Rate	Loan Term	Minimum Annual Income	Approval Time
UnionBank Personal Loan	Up to ₱2 million	26.9% per annum	12 to 60 months	₱250,000	As fast as 5 minutes
UNO Digital Bank Personal Loan	₱10,000 to ₱500,000	1.79% per month (corresponds to annual contractual rates or annual percentage rates ranging from 35.78% to 37.54%)	Six to 36 months	₱240,000	Five to seven banking days
Metrobank Personal Loan	₱20,000 to ₱2 million	1.25% to 1.75%	36 months	₱350,000	Seven banking days
BPI Personal Loan	₱20,000 to  ₱3 million	Maximum annual contractual rate of 28.67%	12 to 36 months	Inquire with BPI	Five to seven banking days
Tonik Credit Builder	₱5,000 to  ₱20,000	4.84%	Six to 12 months	Inquire with Tonik	Two banking days
Tala	₱1,000 to ₱25,000	0.43% daily	Up to 61 days	None	Five minutes to 24 hours
HSBC Personal Loan	₱30,000 to ₱500,000	0.65%	Six to 36 months	₱168,000	Five to seven banking days
CIMB Personal Loan	₱30,000 to ₱1 million	As low as 0.83%	12 to 60 months	₱180,000	One to two banking days
Maybank Personal Loan	Up to ₱1 million	1.3%	Up to 36 months	₱300,000	Inquire with Maybank
RCBC Bank Personal Loan	₱50,000 to ₱1 million	1.3%	Six to 36 months	₱360,000	5 to 7 banking days
PSBank Personal Loan	₱20,000 to ₱250,000	42.88% Effective Interest Rate per annum for a 24-month term (term loan) 41.29% Effective Interest Rate per annum for a 36-month term (Term Loan) 34.49% Effective Interest Rate per annum for 12 months (Revolving Loan	24 or 36 months	₱180,000	Five to nine banking days

Sources: 

• ^[1] Rider: Definition, How Riders Work, Types, Cost, and Example (Investopedia, 2021)
• ^[2] Face Amount Definition (Insuranceopedia, 2023)
• ^[3] Addressing the rising cost of college education in the Philippines (Philstar.com, 2018)