Every caring parent wants the best for their ward, however, life is full of uncertainties and even the best laid plans can go wrong. An unfortunate event could make them insecure especially when you are no longer there for them. A careful financial planning can help you fulfill the aspiration that you have for your children.
The FBNInsurance FlexiEdu Plan helps you to ensure that your child's future is secure and prosperous. It also protects your child future educational needs.
FBNInsurance FlexiEdu is designed to meet the twin objectives that concern every parent – savings for your child's education and securing a bright future despite the uncertainties of life.
It also enables your child to achieve your heart desires and what they want when you are no longer there for them.
At maturity, the parent will receive the sum assured at four (4) annual equal installments. This is targeted to help in meeting the child university education.
Suppose at maturity, the named beneficiary is 17years old, the maturity payout will be as detailed in the table below:
Policyholder can also elect to receive the maturity value in a single installment. If this option is elected, the discounted value of the Sum Assured becomes payable.
In the unfortunate event of loss of life of the assured (parent/guardian), the following benefits becomes payable:
Death of a named Beneficiary (Child)
The following options are available in the unfortunate event of loss of life of the named beneficiary (child)
No loan is available under this policy.
To protect the maturity value against inflation, the policyholder can elect to choose the premium increase option. This will result in an increase in the sum assured.
Sum Assured increase will be simple while the premium increase will be compound. The increase rates allowed under this are 0%, 5% and 10%.
This is a one (1) off premium payment for the selected term made at the commencement of the policy
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