Should death occur before the end of the policy term; the beneficiary could get the full target sum if the contributions were up to date. (Ts & Cs apply)
Minimum policy term is 3 years.
Helps you stay consistent in contributing towards your target sum.
Perfect plan to save towards your kids’ Secondary and/or Tertiary education expenses’.
You can get it as early as when your child is born.
Duly-filled proposal form
Valid means of identification
Recent passport photograph
Q: Does my contribution accrue interest from the date of payment?
A: This is a DEFINED BENEFIT policy and not a savings policy. We invest portions of your premium towards meeting our obligation on your maturity proceeds. Provided premiums are paid as and when due, Leadway guarantees that your sum assured shall be paid as and when due.
Q: What happens if I miss a payment?
A: Non-payment of premiums on their due dates shall attract a fine for late payment. This is currently 10% per annum on delayed premiums, prorated for the number of days delayed. The rate is subject to change at any time by Leadway. If the period of non-payment exceeds a year, Leadway reserves the right to re-assess the risk before renewing cover.
Q: What are my options for the Guardian of my child?
A: In this policy, the beneficiary represents the person to whom you would want the benefit to be paid directly. This could be your spouse, relative, child’s school, Trustee or Parent Teacher’s Association of your child’s school. We advise you nominate a Guardian-at-law to administer the benefits in your stead where the child is a minor.
Q: What will I get on maturity if a 5-year policy with a target of ₦10 million is paid up to only 3 years?
A: Your revised maturity benefit will be 3/5 × ₦10m = ₦6m at maturity.
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