Higher education has become costlier and this means that many of us would need some kind of financial support to provide for that degree in India or abroad.

Most of the banks offer education loans to students to cover their tuition fees and certain other expenses while pursuing the college degrees. While the re-payment of the loan can start once the student has graduated and found himself a suitable job, most banks require the applicant to take a Life Insurance policy for the total loan amount (& the interest that would accrue).

Most banks insist on a Term plan from the loan seeker and it would help you to pick & choose the best Term plan - something where your premiums are the lowest.