The minimum term is seven years so as to give you ample time
to save enough funds to meet your objectives/plans.

The minimum annual contribution is N240, 000 ( i.e N20,000
monthly) and minimum single payment is N1, 000,000. You can
pay monthly, quarterly, half yearly or annually.

The sum assured will be chosen to reflect current/ expected
future school fees and affordability. This is defined as the policy
term multiplied by the regular annual contribution e.g. for a 7
year policy term and an annual contribution of N240, 000.

            Sum assured = 7 x N240, 000 = N1, 680,000

In the event of the policyholder dying or becoming critically ill
during the policy, the higher of chosen sums assured or the
account balance will be paid either as a lump sum or in the form
of installment to the deceased’s legal representative or
nominated beneficiary (guardian at law) for the purpose of
ensuring continuity of the child’s education. In the unfortunate
event of the child dying before the policyholder, the premium
paid will be refunded and the policy terminated or the policy
can be transferred to another child.

The maturity benefit will be the account balance, which can
then be used for the purpose of paying the school fees of the named child.

There will be a loyalty bonus of a “back to school pack” worth
N10, 000 to the child provided that premiums have been paid
consistently for 36 months and the policy has been in-force.

This policy allows for surrender without charges provided that
premiums have been paid for 36 months and the policy has been
in-force. Surrender/termination at earlier durations would attract
penalty charges (Please see surrender charge section)

Should you decide to make a surrender on your policy, the
following conditions/charges will apply:

• Within 1-12 months of policy commencement, surrender
  option is not available
•  13 to 24 months of policy commencement, a surrender
  option is available with a charge of 50% on the accumulated
  fund value
  named child.
• 25 to 36 months of policy commencement, a surrender
  option is available with a charge of 25% on the accumulated
  fund value
• Above 36 months of policy commencement, a surrender
  option is allowed and will not attract any charges
• Please note that the surrender charge is on total contribution +
  interest (account balance).

For Part withdrawal, the following conditions will apply:

• Partial withdrawal option is available after 36 months of the
  policy start date
• This is available only twice during the policy term with at
  least two years interval between each withdrawals
• A maximum withdrawal of 25% of the fund value for first and
  second withdrawals subject to no withdrawal charge
• Your second withdrawal is subject to the continuous
  premium payment after the first withdrawal

We encourage you not to give cash to any of our staff. Please
note that our staff are not allowed to collect cash. Hence, do not
give cash to any staff for premium or contribution payment

There will be a 6 month waiting period for non-accidental death
at the start of the policy.

If your premium is not received after the 30 days grace period,
the policy will enter a reinstatement period. Within 12 months
from the date the policy enters a reinstatement period, you may
pay all missed regular premium and we will automatically
reinstate your policy. The policy may be reinstated (activated) in
accordance with the terms and conditions that we may specify at
the time of reinstatement. You will only be entitled to your
accumulated fund value during the reinstatement period.

Your policy will become paid up if no premium is received during
the reinstatement period. In the paid up period, the policy will
continue to accrue interest but there is no life protection and
critical illness cover during this period.