Super Education Annuity has 5, 10 or 15 years deferment for three years "senior", six years "junior", and nine years "combo" which will be payable half yearly commencing at the end of deferred period no matter the death of the policyholder happening earlier.
Junior category pays fees for 6 years at interval of 6 months.
Senior category pays fees for 3 years at interval of 6 months.
Combo category pays fees for 9 years at interval of 6 months.
The fees amount is an even proportional of the some assured.
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.
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.
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