This product secures the future education of your child. The fund caters for primary/high school/ tertiary fees and associated costs for both local and international universities/ colleges. The University plan is an affordable product where parents determine their own level of investment. Parents can invest from as little as $10.00 per month.
This package comes with three distinct plans which are:
i. Pure Savings Option
This is a pure investment option where monthly investments will grow with investments interest. The client is guaranteed of premiums paid plus interest.
ii. Premium Waver option
This is an investment option where upon the premature death of a parent, before expiry of term, the policy will be funded by First Mutual until the end of the policy term. This option requires underwriting.
iii. Life Cover Option
The policy will have a guaranteed sum assured. On maturity date, the guaranteed sum assured plus bonuses and interest earned to date will be paid out. Underwriting is also required for this option.
All benefits will be paid out in annual instalments, equal to the tenure of the child’s education program, subject to a minimum period of 2 years.