| EDUCATION SAVINGS PLAN | EDUCATION PROTECTION PLAN | EDUCATION TARGET PLAN | EDUCATION TARGET PLAN PLUS | |
|---|---|---|---|---|
| Purpose | Save for education and provides protection against financial ruin | Ensures the continuation of a child’s education in the event of death of a parent or guardian | Helps you set and achieve a target sum towards your children’s education or yours. | Same as Education Target Plan with added benefits. It allows periodic withdrawals during the policy term. |
| Minimum premium | N10,000 | Subject to quotation | Subject to quotation | Subject to quotation |
| Policy term | Minimum of 5 years Maximum of 20 years | Minimum of 1 yearPolicy ceases at 65 | Minimum of 10 yearsMaximum 20 years | Minimum of 6 yearsMaximum of 18 years |
| Tax benefits | No | No | No | No |
| Death Benefits | Covered under limit of Liability | – One-off payment of the sum assured.- Annual benefit payment for the outstanding school years | Target amount is payable in the event of unforeseen circumstances (death). | Covered under limit of Liability |
| Optional Life Cover | Covered up to limit of liability | Covered up to limit of liability | Covered up to limit of liability | Covered up to limit of liability |
| Interest rate | Benchmarked against bank savings rate | Benchmarked against bank savings rate | Benchmarked against bank savings rate | Benchmarked against bank savings rate |
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