School Fees Insurance Plan is a children education contract that protects Pupils/Students of participating schools from the premature stoppage of schooling. As part of the desire of every Parent to provide qualitative educational program for their children throughout their school cycle, the School Fees Insurance Plan is a children education contract that protects Pupils/Students of participating schools from the premature dropping out or stoppage of schooling as a result of, Death of Parent/Guardians/Sponsors, Total permanent disability of Parent/Guardians/Sponsors resulting from accident, and Parent/Guardians/Sponsors contracting any of the named critical illnesses.
One of the benefits of school fees insurance plan is basically designed as an education protection plan to provide financial security for Pupils/Students. It is open to pupils/students in Nursery, Primary, Secondary and Tertiary Institutions.
The school fees protection insurance plan covers a child’s tuition following critical or terminal illness or death of a parent, paying a sum of money every term directly to the school of your choice/beneficiaries.
You chose your child’s school for a reason, so having school fees protection helps to ensure your child can continue their education journey and stay at a school that offers protection, social networks and opportunities for the future.
If payment for your child’s school fees is even partially reliant on your income, then you may want to consider taking out school fees insurance plan to provide for your family in the event of an unfortunate event.
Benefits of School Fees Insurance Plan for Students
In the event of death, health problem, disablement or diagnosis of a critical illness of the parent, guardian or sponsor, the benefits payable shall be the amount of school fees outstanding to the graduation of the child/student from school and it is designed to cover the following:
- Tuition fees
- Books
- Feeding
- Excursion/Extra-curricular activities
- Accommodation (For Secondary; Tertiary Students only)
The benefits of school fees insurance plan is that it guarantee that your child or ward will complete his or her education, no matter what happens, secured assurance that the lofty dreams of a bright future are realized for your child.
Other benefits of school fees insurance plan for pupils/students includes;
- The School Fees Plan prevents drop out that may be caused by death or defined critical illness of the Parent/Sponsor/Guardian.
- The School Fees Plan cover is guaranteed for the entire period at the same educational institution.
- The policy guarantees payment of school fees up to university level or any other tertiary college (stage) subject to the sum assured.
- It gives peace of mind and helps to keep the children’s and parents’ vision alive.
