Expatriates should plan early to fund children's further education, warns policy portfolio

EXPATRIATES SHOULD PLAN EARLY TO FUND CHILDREN'S FURTHER EDUCATION, WARNS POLICY PORTFOLIO - For a free fact sheet to funding university education, call Policy Portfolio on 0208 343 4567 - According to Inscape*, the average cost of a three-year degree course in the UK is £21,000 and rising fast. This figure will be higher still for graduates from overseas as they are often not eligible for the same student loans and grants as UK students. Policy Portfolio is warning expatriate parents that it is essential to start planning early to ensure the necessary capital is available to fund the full costs associated with further education. Brian Goldstein, Managing Director at Policy Portfolio, founder of the Traded Endowment Policy market, commented: "Recent surveys have shown that the average cost for a degree course is currently £21,000 and is estimated to be over £30,000 in 15 years times. For those studying in London this could reach £30,000 within five years. Parents therefore need to consider starting investing early in their children's lives in order to meet the rising costs of attending university. While building societies and banks offer a safe option, growth may be outstripped by inflation over the longer term. Traded Endowment Policies (TEPs) offer investors a combination of flexibility, low risk and the potential for high returns" The advantage of a TEP is that parents (or any investor) can select when they want a policy to mature enabling them to plan for specific future events. They can select a TEP that matures at the start of a university course or several that mature at intervals throughout the course. In addition, they can choose how much capital they wish to invest and the monthly premiums that best suit their circumstances. The average annualised growth for all TEPs bought from Policy Portfolio that matured during the two years ending August 2001 was 10.15%. For a free fact sheet on funding university education call Policy Portfolio on 0208 343 4567 or visit www.policyportfolio.co.uk. -ENDS- *Average figures for funding a three-year degree course taken from Inscape, Abbey National's wealth management service. For further information, please contact: Brian Goldstein Georgina Dunlop Managing Director Lansons Communications Policy Portfolio Tel: 020 7294 3693 Tel: 020 8343 4567 NOTES FOR EDITORS Key features of TEPs: · Combines: low risk with potential for high returns. · No set up costs: As the policy set up costs have been paid by the previous owner, TEP investors derive full benefit from the high growth rate of the policy during its final years. · Strong stable growth: Achieved through bonus payments accrued by life offices investing premiums in shares, property, fixed interest securities and cash. · Guaranteed minimum: A fixed amount of money which has been determined at the outset - the sum assured - is guaranteed and will be paid at maturity. · Bonuses: Life companies declare an annual bonus, which is added to the accumulated bonuses. Once given these cannot be taken away. · Flexibility: Investors choose how much to invest and when they want the policy to mature. A TEP can be sold prior to maturity. · Tailor-made: Investors choose the balance they require between capital investment and ongoing premiums. · Cash for future needs: Since the maturity date is known in advance, TEPs are an ideal way to plan for retirement, university costs, school fees, paying off a mortgage, wedding expenses etc. · Tax: Policies are available as either Qualifying or Non Qualifying, each having a different tax treatment. Investors are able to choose a policy that is most appropriate for their particular circumstances. · Charges: No additional costs to initial purchase price and future premium payments. Policy Portfolio plc Launched in 1988, Policy Portfolio was the first market maker in the Traded Endowment Policies (TEPs) market. Policy Portfolio is regulated by the Personal Investment Authority and was a founder member of the Association of Policy Market Makers (APMM). For those wishing to sell, Policy Portfolio regularly pays up to 30% more than the surrender value from the Life Company and in the case of whole life policies as much as 50%. Policies must be with profits endowments or whole life, which are at least 6 years old and have a surrender value greater than £2,000. Alternatively, for those wishing to invest in a traded endowment, Policy Portfolio has available one of the largest and most comprehensive ranges of policies. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/26/20010926BIT01150/bit0001.doc http://www.waymaker.net/bitonline/2001/09/26/20010926BIT01150/bit0001.pdf