Futurewise aims to end educational exclusion among young people in South Africa

From as little as R7 a day, you can ensure your child’s education is secure.

Children learning in class
Children learning in class/ iStock

 The cost of education in South Africa is high. Parents spend thousands of Rands to pay for fees, uniform, and stationery for their children.

Unfortunately, a large portion of the population finds it difficult to make ends meet, and some can’t afford to support their children's education.

Tertiary education is even more costly. This has led to educational exclusion for millions of students in the country.

But imagine if there was a solution to help you ensure you don’t have to worry about ever failing to afford to pay for your child’s education?

The good news is that Kagiso Tiso Holdings (KTH) and their partners have come together to launch a new educational insurance product to ensure all children in South Africa can get an education.

Futurewise, a disruptive, digital-first education financial services provider, was launched in November to ensure that everyone has access to it and can afford to secure an education for their children.

“Times are tough out there and parents are feeling the squeeze. Parents are spending more than a million Rand per child on education and that's the reason we created Futurewise to stand in the gap,” says Arno Jansen van Vuuren, Chief Operations and Technology Officer at Futurewise.

The insurance is unlike a life or funeral cover. It gives parents the freedom to choose the educational institution where their child will study and pay the institution directly.

READ: New financial services provider, Futurewise, pioneers education inclusion

Arno says after the parents have picked the institution, Futurewise will then do all the admin, making provision for stationery and uniforms.

What’s great about Futurewise is that even in the event of death, you can be sure that your child’s education will still be taken care of.

“You basically just give parents the peace of mind that the kid's education is going to be covered when they are not around to be able to do so,” says Arno.

But, Arno adds that it is a product for life. 

“This means that our customers get meaningful value for their premium they pay from day one – not only in the event of a death. Internally we talk about creating a product for life, not just on death. That is our purpose.”

He adds that it has a savings benefit administered by Nedbank.

Futurewise offers added benefits such as a learning hub, learning support and tutoring services, and teaches digital skills like coding.  

The insurance starts from as little as R7 a day.

The vision of the company is to secure the future of young minds so that they reach their full potential. 

Read more about it here.  

Text your name and “FUTURE” to 32443 to join Futurewise today.

READ: The education system - What to expect next year

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