Children Education Plan (CEP)
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
Bonus added regularly
Premium payment easy and convenient, can be semi-annual or annual
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.
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
The contract can be transferred to another named child if the initially named dies before the chosen maturity date
The plan can be surrendered or “cashed in” after two consecutive years.