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Friday, November 18, 2011

Eleven Plus Insurance

Random thoughts on the role of grandparents in the eleven plus.

Sadly I do not have shares in any insurance companies – otherwise these musings could proclaim a vested interest. Some grandparents, however, may feel a burning need to secure a guaranteed cash sum to mature at the start of the eleven plus year. The money could be used for books, papers, computers, fees, parent’s petrol, child minders or whatever.

Some grandparents will always be on the lookout for special products that offer excellent benefits and great value for money. Before trying to work out just how much needs to be catered for, it may be worth while trying to estimate just how much money will be needed. How long is a piece of string? It depends on the child, the circumstances and the depth of the pockets of all concerned. Thankfully there will always be some children who simply need to glance over a couple of papers and then declare themselves ready. Other children, however, may need a little more input.

Now imagine if there was `The Eleven Plus Insurance Policy’. Grandparents could start contributing on their grandchild’s first birthday. The eleven plus is usually on a fixed date within a given month so the policy could, if necessary, end on this pre-set date.

The Eleven Plus Policy should have a guaranteed acceptance without a medical.

It should offer a good rate of return.

The first month’s cover should be free.

There should a free gift for the grandparents.

The policy should be regulated by the Financial Services Authority.

The policy should offer value for money.

Telephone calls should be recorded.

It all sound too good to be true. If there are, however, any financiers around who would like to take up this challenge – we may even be able to find a few grandparents willing to risk at least some of their all.

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