Living in a rapidly developing era, the world has opened up a great deal of opportunities for your child to be a master in their inspired field. Education is the key that opens all these doors of opportunity and it is every parent’s wish to offer the best in the world for their precious son or daughter.
With the Degree Saver Educational Plan, now you do not have to worry about your child’s higher education. You can save a significant amount to support your child’s tertiary education while you are being entitled for a comprehensive life insurance policy.
Your future aspirations for your child and the expenses associated with it will determine how much of a fund you require when your child is ready to face the world.
Your premium will be based on the amount you wish to invest periodically and your preferred life insurance cover.
The premium paid will be accumulated over a period of time through a compound interest mechanism and creating a large sum for your child at maturity.
The educational fund for your child will grow with the accumulation rate the company declares on a monthly basis. At the end of the term the policyholder can obtain the fund as a lump sum and utilize it for their child’s university education.
There is also a comprehensive life cover of a minimum of Rs. 1,000,000 /- for the policyholder which will be paid immediately at the untimely death of a policyholder as well as the accumulated fund balance at the time of the claim.
Example:
For instance if you are 30 years old and you obtain the Degree Saver plan for a period of 20 years with a life cover of Rs. 7,000,000/- the following benefits could be assumed.
Monthly Premium: Rs. 2,614/-
| Monthly Contribution to the Fund | Total Monthly Premium (Life + Fund) | Return at the end of 20 years | |
|---|---|---|---|
| 7% | 9% | ||
| 7,000 | 9,614 | 3,222,632 | 4,045,209 |
| 10,000 | 12,614 | 4,603,760 | 5,778,870 |
| 15,000 | 17,614 | 6,905,640 | 8,668,305 |
*This is only an example, actual returns may vary as per the monthly declared accumulation rate. the premium may differ according to the health condition of the insured.
Anyone aged 18 – 60 could purchase this policy for a period between 10 – 30 years.
This policy can be paid in Monthly, Quarterly, Half-Yearly and Annual modes.
The following rider plans can be added on to your life plan as additional protection.
Ceylinco Life Degree Saver policyholders will be eligible for additional rewards as a tribute for their loyalty. All policyholders stand a chance to take part in the Ceylinco Life Family Savari consumer promotion and their children are also eligible for the Pranama Scholarship scheme.
