School Fees Protection Plan

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.

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This product is an individual/ group children education policy that protects pupils of participating schools from premature stoppage of schooling as a result of:

Death of parents/guardians/sponsors
Total permanent disability of sponsor resulting from accident
Sponsor contracting any of the named critical illnesses

Features of the Plan

It is a one year renewable plan.
The Assured are the parents or guardian responsible for the upkeep of the child.
Insured Parents/Guardians must not be above the age of 65.
Premium is paid along with the school fees per term or per session.
It provides lump sum benefit on death of the life assured for the payment of schools.
Sum assured may be reviewed at the intervals to adjust for increment in school fees.
Ensures continuity of policy if child is transferred into another school.

Benefits

Death Benefits
Total Permanent
Disability
Critical Illness Benefit
Cashback Benefit

Sum Assured

The minimum sum assured available under this contract is currently fixed at N250,000.00 per annum

Premium Payment Frequency

Premium is paid at the selected frequency.

Grace Period

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.