School Fees Policy
School Fees Policy (With Profits)
The cost of Education is becoming a headache to many concerned parents today because of the rising school fees that makes it necessary for parents to plan ahead so as to provide for this well in advance. A small sum set aside today will ensure one's child education tomorrow. This plan helps to meet the cost of education of children particularly at Secondary and University levels because that is when the extra money is really needed.
Under this plan, the parent's life is assured and the Beneficiary is the child or children.
Assumed Age - 35 Years
Sum Assured - Ksh. 100,000/=
Term - 10 Years
Annual Premium - Ksh. 10,291/=
Monthly Premium - Ksh. 900/=
The policy incorporates the following benefits:
> If the parent dies before the Term of the policy expires all future premiums from the date of death to the date of maturity are waived.
> At the end of the selected Term, the Basic Sum Assured plus Bonus up to the Date of Death is payable. This can be taken in one lump sum or in installments.
> If the child unexpectedly dies within the selected period, the parent will receive all premiums paid or may substitute another child in place of the decease child.
> The Maturity Benefit which is the discounted value of the Sum Assured plus the accrued Bonus becomes payable either in lump sum or in five yearly or Ten yearly installments.