Other Concepts
Education planning
Besides watching their children grow up healthily and happily, most parents also dream to see their children succeed in life.  Education plays an important role in children's development and is one of the most important prerequisites to success. However, the cost of education often adds burden to a family. Therefore, planning for education fees becomes an indispensable element in family planning.  Like retirement planning, the earlier you start saving for education, the easier the objective will be achieved.

Generally speaking, studying abroad is much more expensive than studying locally, but studying at local international schools can be even more expensive.  Regardless of locations, tuition fees often increase at a much higher rate than consumer price levels. Further, term-break travel and vacation expenses should be taken into the consideration when planning for overseas' education.

Many insurance companies, fund houses and banks offer different types of education plans. Parents should choose carefully among these plans to suit their own objectives and risk preferences. 
Channel 8 consultants can help you project your children’s education needs and assist you to make the best choice for your children’s future.

The following table illustrates the costs of tertiary education of some popular countries:

Country Annual Tuition Fees Annual Living Expenses
Australia A$15,000 – 33,000 A$18,000 – 24,000
Canada C$8,000 – 29,000 C$8,500 – 17,000
Hong Kong HK$50,000 HK$50,000
New Zealand NZ$20,000 – 30,000 NZ$15,000 – 18,000
U. K. GBP9,200 – 18,700 GBP9,840 – 12,240
U. S. A. US$22,958 - 31,231 US$14,271 – 15,041
(Source: Education Bureau, 2015)

Want to understand more on the importance of education fund? Act now, and contact our professional financial consultant.

Medical planning
We all believe that good health is over wealth. In case health problem arises, an appropriate medical protection allows you to have a choice on better hospital and medical experts. Moreover, it helps avoiding the busy public hospital and allowing you to get an appropriate treatment earlier.

The following is a reference to the cost of the major popular private hospitals: (Last Update: July 2015)

Hospital Name Reference Cost (HK$)
Private Room Semi-Private Room Ward
HK Sanatorium & Hospital 3,500 – 6,600 2,100 – 2,500 980 – 1,530
St. Paul’s Hospital 2,280 1,200 672
St. Teresa’s Hospital 1,700 – 19,000 900 – 1,600 530 – 680
HK Baptist Hospital 3,380 1,500 – 1,800 600 – 1,070
Tsuen Wan Adventist Hospital 1,600 1,000 500 – 650
Union Hospital 2,800 – 3,900 900 – 1,200 500 – 800

Want to understand more? Act now and contact our professional financial consultant.

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