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Benefits of Education Insurance

  • Funds are made available to your child or children, even in the event of your sudden death.
  • We have redesigned our education insurance to meet the needs of the current education system. This makes it possible to guarantee either the nursery, primary, secondary or tertiary fees of your child or children.
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  • Education Insurance

Planning for your child’s education is a critical part of their success in later life. Prime Life Education policies help you to set aside the funds needed to guarantee their education. The policy enables you to save money and to provide for your children even if you or another parent passes away or is permanently disabled.

It is insurance that is taken by a parent or guardian to paying for children's education in the future. Whether parents are alive or not, children study in the school of parent dreams.

  • How it works:

  1. Parent select the education level to secure: Nursery, Primary, Secondary or University.
  2. Parent starts contributing earlier for the entire predicted education cost in monthly instalments until the child reach secured level.
  3. Prime Life Insurance issues predicted tuition fees to the insurance beneficiary at the beginning of every trimester/ semester/ year of the selected level.

  • Special Benefits

  1. All deposited premiums generate an annual compound interest.
  2. In case of parent’s death or total permanent disability with rate of 70% and above, premium payment stops and every year, Prime Life pays 50% of agreed tuition fees to help the child reaching selected level and 100% school fees is also paid for the insured level.

  • Product Features:

  • Subscriber can insure his/her future education or a child to be born.
  • Premium payment options: monthly, quarterly, by semester, annually or a single payment.

  • Other Product Features:

  • Interest on savings: Annual interest is generated on savings deposited
  • Waiting period:There is no waiting period in case of accident but 2 months
  • Advance/Partial Surrender: Allowed after 3 years
  • Total Surrender:Allowed after 3 years

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