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An education plan without life cover. The proposer may purchase this plan for a child with a minimum age entry of 1 year and a maximum age entry of 9 years.
Upon maturity sum assured plus all declared bonuses will be paid as a lump sum or paid in instalments by way of school fees per term for 6 years.
Additional Benefits
The additional benefit is optional to the policy holder at a very minimal fee which is added to the monthly premium.
The Policy holder can choose to buy the added benefit based on preference.
The benefit under this policy is as follows:
College benefit provides payment of tertiary education fees for a period of 4 years.
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To nominate another child as a beneficiary to the policy proceeds.
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To continue paying for the policy for his own benefits until maturity.
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To cancel the policy and get a refund of all premiums paid except for the first year’s premium with a refund of 4 % compound interest per annum.
Policy continues in force on a profit basis with no premiums due
Refund of all premium contributed plus 4 % compound interest per annum if death occurs two years after policy inception; however if death occurs during first two years of the policy inception, refund of premiums will be limited to 90 % of the total premium contributions without interest.
Minimum age entry 1 year
Maximum age entry 9 years
Ancillary Benefits
College benefit