Education Dosen't come with Guarantees, But this Children Eductaion Insurance Plan has 6 of them
1. GUARANTEE: That if death occurs to the guardians:
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Premiums will be waived for your child and your family and African Alliance will pick up the premium payment on your behalf.
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2% of the sum assured per month will be paid to your family till the maturity of the plan.
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On maturity of the plan the agreed sum assured will be paid to your child for him to pursue his/her studies as planned.
2. GUARANTEE: If the child dies before the maturity of the plan, all premiums earlier paid will be refunded.
3. GUARANTEE: That you may transfer those funds to the advantage of any other child.
4. GUARANTEE: If the child is alive till the maturity of the policy, the agreed sum assured will be paid to you in one Lump Sum to enable you undertake the payment for his/her higher education without falling on your regular income. If the child has already completed his/her education, the lump sum could be used for retirement fund, marriage of the child or any other projects so desired.
5. GUARANTEE: That you can secure a loan from the growing reserve fund provided premiums have been paid for at least three (3) years. The loan is repayable with a low rate of interest.
6. SUPPLEMENTARY GUARANTEE: If you become permanently or totally disabled in the course of the plan due to illness or accident, the same guarantee states in (i), (ii), (iii) shall apply.
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