A solid financial base helps you fulfill your children’s potential and is an investment for their future. At Allianz Saudi Fransi we provide Shari’a Compliant education saving plans to give your children the very best start in life.
Waad Al Ajyal
They say you can't give what you lack, my experience however, proved otherwise. I was just a young child when I lost my father in an accident. Not only did we have to change our lifestyle but we also had to move to a smaller house. My mother's responsibility grew over night as she had to become the provider of the house now. Our situation wasn't getting better as time passed by and life's expenses increased.
After my marriage I was lucky to witness the birth of my son, Nawaf. I always wanted to provide him with the best in life so he would grow up and become a famous doctor or a renowned engineer in the future. But reality always had me questioning the high fees of university education in the Kingdom and what would happen to Nawaf should anything bad, god forbid, happen to me.
As time passed by, I became more convinced that I can never really prevent accidents or mishaps. But I can devise a backup plan that provides peace of mind for all of us. When Nawaf became three years old I enrolled in an Educational Saving plan where I invest 1000 SAR every month to save for his university fees when he reaches the age of 18. According to this plan Nawaf will obtain an amount between 200,000 and 230,000 SAR as a university fee. And to maintain the same lifestyle should any harm befall me, my family will be able to get an extra 20,000 SAR annual allowance as schooling benefits until Nawaf enters the university.
I can't help but notice Nawaf's joy whenever I bring him gifts but I know he will even be happier when he gets to go to one of the prestigious schools in the country while the company takes care of him should anything happen to me in the event of death or total permanent disablement.