The Scholar Plan insures the life of your child from the age of 3 months for 15 years or more.
WHAT IS THE SCHOLAR PLAN?
- Basic life insurance cover that insures both you and your child.
- The policy builds up cash values for the first seven years. At the beginning of the 8th year an Investment Protection Account (IPA) is created.
- From the beginning of the 8th year the premiums, together with all the accumulated cash values, are invested in an Investment Account that attracts interest up to the maturity of the policy.
- The policyholder is also allowed to withdraw up to 25% from the investment protection account once per year from the beginning of the 8th year of the policy.
- Parental life cover can be purchased by selecting a suitable rider.
Additional parental life cover protection:
- Child Protection Agreement (CPA) – waives future premiums upon the death of the premium payer.
- Education Protection Rider – monthly payments of 1% of the sum assured and waives future premium payments upon the death of the premium payer.
- Disability Protection Rider (DPR) – monthly payments of 1% of the sum assured and waives future premium payments upon total disability of the premium payer.