Children Education Fund

Children Education Fund

This is mainly a savings plan that assists in providing a lump sum over a period of time for the education of one’s children/dependants. However, if the policy holder dies during the agreed period, the account fund balance plus the sum assured on the plan (outstanding premium as at date of death) is paid to the named beneficiary; but if there is no death, the policy holder gets his total contribution with accrued interest at the expiration of the agreed period.

It can also be used as collateral for loan during the policy period from any financial institution, and has a cash value during the policy period subject to policy terms and conditions. 

BENEFITS

  • Policy can be surrendered after a minimum of one year in force, subject to policy terms and conditions
  • Policy loan, subject to a maximum of 70% of the fund balance after a minimum of one year in force
  • Policy can be tendered as collateral with any financial institution
  • Attractive interest rate
  • Annuity option at Maturity 

FEATURES

  • Minimum annual contribution of N60,000.00
  • Flexible payment of contribution (monthly, quarterly; half yearly and yearly)
  • Medical examination, at our expense, may be required where necessary for underwriting purposes
  • Minimum policy period is five years
  • Maximum age at entry is 50 next birthday.
  • Death benefit equals future unpaid annual premium plus Policy Holder balance.