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Education Annuity

Education Annuity policy

Education plans are designed towards saving for the future of insured’s children education. The plans are customized based on the customers’ preferences. The premium depends on the sum assured, period of insurance, and the age of the insured. Upon the maturity of the policy cover, the insurance will pay the fees of the children in intervals as per the contract and sum assured. In an unfortunate event of death of the insured, the insurance will pay the fees as planned in the contract upon the maturity of the cover.

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Benefits:

The insured will be paid his or her benefits which is the sum assured at the end of the contract (the maturity of the policy) or if death occurs within the contract period. This contract will include:

Premium Payment

All premiums, shall be payable at the head office of the Insurer. The assured may pay the insurance premium based on sum assured either monthly, quarterly, semi-annualy or annually.

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One month but not less than thirty days (30) of grace are allowed for payment of premiums. If death occures within that period and before payment of the premiums then due, the policy will still be valid, and the sum assured paid after deduction of the said premium, as also the unpaid premiums failings due before the next anniversary of the policy

"Education is the most powerful weapon which you can use to change the world" - Nelson Mandela.

When the premium is not paid within the days of grace, the policy will be terminated and the insurer will provide written notice to the policy holder concerning termination of the policy. No Benefit shall be payable after the time of termination.

Click here to Download Proposal form