Their education is our future, secure it!
AXA Mansard EduPlan Plus offers the policyholder an opportunity to build up funds over a period of time to finance the education of a child/ward or indeed any other similar project. It also provides financial protection for the child's education in the event of the demise or permanent disability of the policyholder within the duration of the policy.
With AXA Mansard EduPlan Plus insurance, you can build up funds to finance the education of your children/wards. It also provides financial protection for your children's education in the event of demise or permanent disability within the duration of the policy.
- Determine the target sum and policy term (duration) long enough to accumulate the target sum for your child’s education.
- Choose your preferred sum assured, subject to a maximum of N10 Million. A higher sum assured is available on request.
- The minimum contribution is 5 years; part withdrawal is not allowed.
In the event of permanent disability or demise, we will:
1. Pay to the beneficiary, a family income benefit annually till policy ends
2. Pay contributions on behalf of the policy holder until the end of the policy term
3. pay the account balance at the end of the policy term
In the event of demise, we will:
1. Immediately pay the sum assured to the named beneficiary
At the end of the policy term:
1. We will pay account balance towards the settlement of the primary beneficiaries’ school fees
2. Account balance can be paid as lump sum or converted to annuity for the education of the beneficiaries
In the event of policy termination:
1. The account balance (accrued interest plus net value of all contribution less expenses) shall be payable but
2. The policy cannot be terminated before 2 full years’ contribution has been paid in and the policy
has been in force for at least 2years.
- Terminal age for insurance cover is 60 years
- The policy can be transferred to another named child
- Minimum contribution is N60,000 per annum
- Minimum sum assured is 50% of annual contribution x duration
- Maximum sum assured is annual contribution x duration, subject to a limit of N10m
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