Understanding residual debt insurance!
You've probably heard of residual debt insurance. But what does it mean and do you need it?
The statutory mission of BCEE includes the obligation to support the promotion of saving in all its forms among the population of the Grand Duchy of Luxembourg as well as in the context of financial education. The School Savings Day event has been in existence since 1961 and is also supported by the Ministry of Education. Even if it has been around for many years, the event has not lost its charm and every year, schools all over the country participate with great joy.
In fact, every year, BCEE invites about 5000 pupils from school cycle 2.1 from more than 160 fundamental schools to go see a play, that has been specially put together for the occasion, with their teachers. These shows provide a fun way of learning about the meaning of money and the value of saving.
The plays were written by various producers such as Jemp Schuster, Pit Vinandy, Tammy Reichling and, for the first time this year, Robi Arend.
Once the show is over, all the children receive a BCEE piggy bank and a 50 euro gift voucher, which they can credit to a BCEE TWEENZ savings account. Most municipalities support this initiative and willingly contribute by offering an additional gift to the children.
What about you, do you remember your first "Spuerbéchs"?
From the outset, the piggy banks were small square stoneware tins, made by Villeroy & Boch. The designs have changed regularly over the years and there are more than 50 different piggy banks to date, which have even become collector's pieces!