Children Education Plan (CEP)

Features:

  •          This unique plan helps to;

a.    Save towards the future planned education of a named child/ dependant

b.    It provides a regular income to named child/ dependant on the death or permanent disability of policyholder

  •          Maximum age at inception is 60years, maximum age at maturity is 70years
  •          Varied policy duration ( between 10 & 15years)
  •          Minimum sum assured is  N 500,000
  •          Bonus added regularly
  •        Premium payment easy and convenient, can be semi-annual or annual

Benefit Payment:

At Death:

  •          2% of the basic Sum Assured together with the accrued declared bonus shall be paid as monthly income to the family of the deceased up to the maturity date of the plan.
  •         All outstanding premiums to the maturity date shall be waived and met by the Company.

At Maturity:

  •         Upon Maturity, the basic Sum Assured together with all accrued declared bonus shall be paid to the named child for him/ her to pursue education.

Total permanent disablement:

  •         In the event of the policyholder becoming permanently or totally disabled before the maturity date, 2% of Sum Assured shall be paid as the monthly income to the family of the deceased up to the maturity date of the plan.
  •          Outstanding premiums to maturity date shall be waived and met by the Company

Other guarantee:

The contract can be transferred to another named child if the initially named dies before the chosen maturity date

Withdrawal/Surrender

The plan can be surrendered or “cashed in” after two consecutive years.