THE GREATEST LEGACY YOU CAN LEAVE FOR YOUR CHILDREN IS A GOOD AND QUALITY EDUCATION. BECOME ENGRAVED IN YOUR CHILDREN’S MINDS' TODAY BY LEAVING A LEGACY FOR THEM

Education Legacy Assurance Plan

We can help your child from being forced to end schooling prematurely! This can happen from any of the following emergencies. Due to unexpected Job loss or demise of family breadwinner or sponsor.
The Educational Legacy Assurance Plan is a targeted savings plan geared towards financing the future education of a named child. It is a savings plan designed to accumulate sufficient fund for educational purposes.

Every parent needs ELAP because it provides cover for the:

1. Untimely demise of the parent, guardian or sponsor of the child.

2. Permanent disability of the parent, guardian or sponsor due to an accident or critical illness.

3. Loss of employment of the parent, guardian or sponsor resulting from redundancy.

The policy duration

The policy duration ranges between 8 and 18 years. The maximum age at entry for a parent or sponsor is 57 years. The policy is designed to mature not later than age 65 for the payer and 25 for the child named as beneficiary.

Benefits

a. A life assurance benefit of a guaranteed sum assured subject to a maximum of N10 million or the balance in the policy holder’s account, whichever is higher.

b. An annual maintenance income of 25% of the sum insured, payable for 5 years in the event of the policy holders demise.

c. A disability benefit in the event of total permanent disability. Here, the policy holder enjoys benefits due under the life assurance cover and annual maintenance income.

d. A redundancy benefit due to loss of employment. Here, the policy holder can enjoy a waiver of the premium for 6 months.

e. A cash withdrawal option of up to 20% from the legacy account to assist in the child’s education provided the policy has been in place for a minimum period of 5 years.

How You Can Determine the Premium

Premium: This is the fee paid by the insured to the insurance company for bearing the risk of the insured. So, how do you know what to pay for an ELAP policy in AIICO? Let’s assume a man wants to save N10 million for the education of his child. He will take that amount and divide it by the number of years he wants to go for between 8-18 years. Let’s assume the man wants to go for 18 years, divide N10 million by 18 years: this will be N555, 555.55. This money can be paid once a year or twice a year, quarterly or monthly. Let’s assume again that another person wants to save N2 million for his child within the period of 8 years: Divide 2 million by 8 years: this will be N250, 000.00. This amount can be paid once or twice a year, quarterly or monthly. If you intend to pay twice a year, divide 250, 000.00 by 2, it will be N125, 000.00. Whatever amount you want to save, divide the amount by the duration. This will give you what you will need to pay annually, semiannually, quarterly or monthly. (Monthly option will commence with the first two months paid upfront)

WHO CAN BENEFIT FROM HAVING THIS PLAN?

Anyone interested in EDUCATION PLAN for his or her dependent(s) and also wants to leave a legacy for his/her child.

For more details on this, or if you desire a one on one meeting:

Call 08038632441 or 07086168628

Email me at dblackdada@gmail.com. com

If you live in Lagos and want to visit our office, our address is:

AIICO HOUSE

2 Oba Akran Avenue,
Ikeja Lagos.

*More explanation on the benefits of this policy*

*If a parent or a sponsor that has this policy desires to withdraw from it, can he/she do so?*

Yes. The plan should have run for at least Five years before you can make a withdrawal. The maximum you can withdraw is 20% of your paid amount. This is to help the parent pay for the education of the child if he/she wants to pay the child’s school fees from the education account.

*What happens if a parent dies before this policy matures?*

The child will be paid 25% of the total sum he/she (the parent or sponsor) has in mind to pay for five years. That is to say, if he has N10 million as the total sum to be paid as in one of our examples above, the child will be given N2.5 million for five years and then the total amount (N10 million) will be given to the child at the end of the plan. If death occurs in less than five years to the end of the policy, the child will enjoy the 25% within the duration of the plan; then the total sum will be given. Let’s assume demise occurred at the 15th year of the policy, the child will receive N2.5 million only for two years and then N10 million will be given to the child at the 18th year.

*What happens if the parent or sponsor becomes permanently disabled?*

He is seen as a dead living person. All the benefits we give to the child when the parent or sponsor dies will be given to the child. This is explained in detail in the question above.

*How do I start this policy today?*

Call me on: 08038632441 or 07086168628

You will be given a form to fill. Then you will give us the passport of the named child, his or her birth certificate, your utility bill, your own passport and any means of identification (driver’s license, voter’s card, international passport or national ID card). You will then be sent your policy certificate with our incentives.

Note: Picking up this policy can be done from the comfort of your house or the office. All you need to do is notify us, we will send you a scanned copy of the form, fill it and scan it back to us with all the necessary documents. Your application will be processed and your certificate forwarded to you upon approval.