Child Education Term Plan
Our Child Education Term Plan or School Fees Protection Plan is a group/individual child education contract that protects students/pupils of participating schools from premature stoppage of schooling as a result of death of the parents or guardian, This Plan is designed to ensure the continuity of the child’s education through prompt and regular payment of school fees.
The scheme applies to all levels of education.
- It is a one-year renewable plan
- It has a minimum sum assured which is currently set at N250, 000.00 per annum.
- It provides lump sum benefit on death of the life assured.
- It does not attract any surrender or withdrawal/termination benefits.
- It ensures continuity of policy if the child is transferred to another school.
- All payments will be made out of the sum assured.
- The assured are the parents or guardian responsible for the upkeep of the child.
- Insured parents/guardians must not be above the age of 59.
- Premium is paid along with the school fees per term or per session.
- Sum assured may be reviewed at the intervals to adjust for increment in school fees.
- It assists to save for the future quality education of the child.
- It ensures continuity of good education for the child in the event of the death of the sponsor.
- It could serve as additional security to secure the loan.
- It gives peace of mind to the life assured.
- It’s an affordable and cheap form of insurance for every member of the family.