The business, employment and education format in the next 10 to 20 years will make a dramatic turn and youth, parents and students must look at these developments before deciding on their career, Lanka Impact Investing Network (Private) Ltd Founder and Chairman, Chandula Abeywickrama said. Parents, youth and education providers must adapt to change, he said.
He was speaking at the leading insurance solutions experts, Union Assurance unveiled Sisumaga+, a unique protection-based plan for students to offer financial support until university level. He said that nano technologist, microbiologist (a scientist who studies microscopic life forms and processes) would take over the medical sector treatment and surgeon doctors and even hospitals would disappear. The novel methods would include mini medical treatment rooms where nano-technologist, micro biologist would diagnose the patent and provide treatment by way of injecting medical substances. “There would be no surgery and the treatment would be completed in less than one hour!”
He also predicted that modern jobs would also revolve around music, designing and writing. The German education system allows a student to decide which job the student wishes to pursue from grade 2 and a similar education system too should be implemented in Sri Lanka. He also lauded the program launched by Union Assurance to offer Sisumaga as a praiseworthy one as it’s designed to ensure uninterrupted education from childhood through to university. Sisumaga Plus is for parents who wish to make provision for their child’s academic expenses for University or tertiary education, ensuring that the higher education costs are met, even in the unfortunate circumstance of a possible demise of the parent. The new policy was launched at a special ceremony hosted at the Cinnamon Grand Colombo, and graced by a distinguished gathering of dignitaries including Secretary to the Ministry of Education, Prof. Kapila Perera, John Keells Group Chairman, Krishan Balendra, Chandula Abeywickrema and, celebrity entertainer Bathiya Jayakody.
Sisumaga+ is for parents who wish to make provision for their child’s academic expenses for University or tertiary education, ensuring that the higher education costs are met, even in the unfortunate circumstance of a possible demise of the parent.
“Education Protection is a relatively new concept in Sri Lanka and Union Assurance is pleased to be a forerunner in establishing Sisumaga+. Through a combination of savings and investment, this plan will provide essential support for children to actively pursue their ambitions for higher education while providing a buffer against the continuing escalation in associated costs. In this way, we are able to guarantee that your children will have the funds they need to grow when they need it the most,” Union Assurance Chief Executive Officer, Jude Gomes stated.
Sisumaga+ offers a fund build-up for continuous growth of the education fund, an additional 15% Loyalty Benefit paid upon completion of all due premiums of the policy term, and in the event of a demise of a parent, an immediate payment of 5 times of the basic annual premium and a consistent monthly income to take care of education expenses up to the maturity of the policy.
“Especially at a time when Sri Lanka and the entire world is faced with severe economic disruptions, many can expect to face difficulties in establishing savings sufficient to lay a strong financial foundation for their child’s educational aspirations. Given the rising costs of everything from tuition to text books, boarding fees and transport, this can be a source of serious concern for parents and families. Sisumaga+ is a plan that can directly address these concerns effectively,” Gomes added.
Acknowledging the many children who are lesser privileged and challenged for resources for the continuity of their education during the launch event, Union Assurance also pledged support for SOS Children’s Villages in Nuwara Eliya and Monaragala and also announced the establishment of five scholarships for students of the Ceylon Schools for the Deaf & Blind at the event.
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