It is the desire of many parents to provide qualitative and functional educational program for their children throughout their school cycle. The School Fees Protection plan is a Life insurance cover designed for the benefit of the Students of a school.
This product is an individual/ group children education policy that protects pupils of participating schools from premature stoppage of schooling as a result of:
The minimum sum assured available under this contract is currently fixed at N250,000.00 per annum
Premium is paid at the selected frequency.
If the premium is not received before the premium due date, the policy will enter a grace period. The duration of this period will be 30 days. The policyholder will still have life, critical illness and physical disability cover.
There will be a 3-month waiting period.
The product can be sold to Private Nursery, Primary and Secondary Schools through Parent Teachers Association (PTA) and tertiary institutions.
The policy is annually renewable.
Medical underwriting will be needed for sum assured over the non-medical limit