UAE | Education
Parents sceptical of school fee insurance programme
Eight out of ten parents have shrugged off an education insurance programme launched by a school group saying that if it really wants to help pupils and their parents it should first try to get their tuition fees decreased.
- By Sunita Menon, Staff Reporter
- Published: 00:00 August 5, 2006
Dubai: Eight out of ten parents have shrugged off an education insurance programme launched by a school group saying that if it really wants to help pupils and their parents it should first try to get their tuition fees decreased.
The initiative, launched in the Global Education Management Schools (GEMS) group, is entirely optional and guarantees a child's education in the event of death or permanent disability of a family's main wage earner.
Known as the GEMS Education Protection Programme (GEPP), it is said to be the first of its kind in the UAE education market. Coverage for the insured family member is valid worldwide.
Uniquely, the nominated parent does not need a medical check-up or even to show proof of employment.
On the basis of a fully refundable deposit, a child will receive free tuition until the completion of his/her schooling or 20th birthday. All that is required from the student's family is a one-time deposit, which will depend on the fee structure of the school the child attends.
In addition, parents who invest in this innovative policy will receive two per cent interest per annum, paid out annually.
"First of all, I do not think that schools should get involved in such a thing as insurance," said a parent whose son attends one of the GEMS schools in Dubai. "As an expat I could have to pack my bags and leave at any time. So when the time comes, will I have the patience to chase the company for my pay back?
"In any case most children continue their studies back home in India or in the West," he added.
Registration for the programme will not begin until schools reopen in September.
In case a pupil leaves the school, the entire deposit money, along with any accrued interest (offered at two per cent per annum) will be refunded.
This is only if the pupil has no outstanding fees.
"This is a very good opportunity for parents of our students to safeguard their child's education and future," said Ann McPhee, director of education, international schools, GEMS.
"The sheer number of GEMS students worldwide (nearly 60,000), allows GEMS to offer this insurance to parents of students in our schools, insuring them as a group.
"This allows families with students in GEMS schools to enjoy benefits that would not be offered to them as individuals," she added.
"The group had increased tuition fees by 20 per cent at the start of the academic year," said another parent.
"Now they come out with this education policy. I have no intention of continuing my daughter's education in the UAE.
"However I have already taken a comprehensive insurance policy for which I receive more interest."
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