Education Endowment

 

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Education Endowment

The plan provides benefit for the payment of policyholder’s child school fees and other incidentals at any chosen level of his/her education – Primary, Secondary or Tertiary level. Through this arrangement; a parent can start to provide for the education of his child immediately, and so dispel all the worries of uncertainty and the strain of not being able to fund his child’s education in future. The policy guarantees the education of your child whether you are alive or otherwise to the tune of your sum assured.

KEY FEATURES

• Minimum duration of 5 years
• Mode of premium payment can be monthly, quarterly, half yearly or annually
• Option to select level of education to be covered
• Maximum age at entry is 55 years
• Option to choose an Additional Fatal Accident Benefit (AFAB) cover up to 100% at an extra premium

BENEFITS

• The future education of the child is secured to the tune of the targeted amount
• It qualifies for tax advantage
• At maturity, the targeted amount is payable
• Bonus declaration enhances the benefit
• Policy loan facility exists
• Systematic saving vehicle
• Collateral security