THE INSURANCE COMPANY Guardian Life of the Caribbean Limited today launched what it called an SOS to boost education in Barbados.
SOS is the acronym for Student Opportunity Saver, a new product which Guardian Life says will revolutionise “the entire concept of educational and entrepreneurial planning”.
The plan, with premium monthly payments of $150, allows parents and guardians to save under an insurance policy for the education of their wards or for the improvement of their own careers.
Guardian Life officials also say it’s an ideal savings plan to assist in creating start-up capital for a business venture.
The plan, which allows for minimum unscheduled deposits of $1 000, was launched with a breakfast at the Lloyd Erskine Sandiford Centre attended by the media, insurance officials and a number of educators.
Professor Pedro Welch, Dean of the Faculty of Humanities and Education at the University of the West Indies’ Cave Hill Campus, told the gathering that funding education had become more challenging across the world, with governments cutting back on their budgets. (TY)
