Every Parent’s joy is ensuring that their Children get quality education and turn out great in future. AIICO Insurance Plc offers two education policies to meet these needs:

Children Education Plan (CEP)
Education Legacy Assurance Plan (ELAP)


Children Education Plan (CEP)
This is an education endowment plan that ensures the continuity of the education of a named child (beneficiary) in the event of death or permanent disability of the policyholder up to the maturity date.

Features of CEP
At death or disablement of the policyholder, future premiums are waived
An annual income of 12% of the sum assured will be paid to assist in the education of the named child to maturity date of policy
Returns of premiums paid in the even of death of the named child
Payment of lump sum at maturity to the named child
Policy is tax exempt
Availability of cash loan

For a plan of 10 years, sum assured N1,000,000.00 and at age 35, the annual premium will be N96,160.00 and semi-annual premium will be N50,020.00. At death, premium payment ceases and 12% of the sum assured becomes payable until the maturity date when the beneficiary will also collect the sum assured.



Education Legacy Assurance Plan (ELAP)
ELAP is a savings plan targeted towards financing the future education of a named child in the event of death or permanent disability of parent/sponsor (policyholder).

Features of ELAP
At the death or permanent disablement of the policyholder, premium payment ceases
Maximum age at entry is 57 and exit 65
Provides for Annual Maintenance Income of 25% of sum assured for a period of 5years
Period of policy ranges from 8 years to 18 years
The higher of the guaranteed sum assured (subject to a maximum of N10million) or balance in the policyholder’s investment account is payable at maturity.

If a parent wants a sum assured of N10,000,000.00 for a term of 18 years, the annual premium will be N555,556.00. In the demise of the policyholder, premium payment ceases and a sum of N2,500,000.00 will be paid to the beneficiary for 5 years and also he would collect the sum assured (N10,000,000.00) at maturity of the plan.

Need More Information?

Please contact us:

Telephone: 07031008983...(Relationship Officer)
Email: dr_racheal@yahoo.com