We all want to look out for our children and see them succeed in life. Providing your child with a quality education is one of the best ways you can help them, but it can be a very expensive undertaking.
Alliance’s Child Protection plan helps forward-thinking parents meet the costs of educating their child. The plan has a built-in life assurance provision and allows you to save over a set period, without having to make constant personal sacrifices, so it’s especially suitable for parents on a limited income.
The Child Protection Plan is specifically designed to help you plan for your child’s future education needs. By setting aside a modest portion of your income now, you can accrue the funds needed for your child to begin their future education. Additionally, the plan has a built in life assurance feature, protecting both you and your child.
If death occurs while your plan is still in force, the following benefits are payable:
- A monthly income of 1% of the sum assured will be paid to your child, up to the end of the policy term.
- The sum assured, together with accumulated bonuses, will be paid to your child once the policy matures.
- Premium payments stop at the point of death and no further premium payments are required.
- If the child dies during the Term of the Policy, the Sum Assured is paid as follows:
Age at Death
% of sum Assured
|1 year||20% plus bonuses|
|2 years||40% plus bonuses|
|3 years||60% plus bonuses|
|4 years||80% plus bonuses|
|5 years||100% plus bonuses|
On survival of both the parent and the child at maturity, the full sum assured plus bonuses are paid.