Wednesday, 4 January 2012

Education Plan

Education Plan

One of the best investments any parent can make in their lifetime is an investment in their children’s education.
Of course, parents do strive to give their children a good start in life by accumulating assets for them such as business, property and cash, but these can be "temporary" in nature. One asset, that is permanent, however, is a good college / university education - that is something no one can take away from them.
A good solid education is now a prerequisite to financial stability and advancement in the very competitive and technologically advanced world that your children are growing up in. But unfortunately too often one hears the following words:
“I wish I had started saving early enough to be able to send my children to university”.
With EFU’s Education Plan, you can make sure that unlike other parents your dreams for your children will become a reality.
Guarantee their education even if you should die
In the unfortunate event of your death prior to the maturity of the Plan, you would want to make sure that your education plans for your children will still be fulfilled.
There are two key questions you need to address in this context:
Q: How will the fund you originally targeted for now be produced?
The Continuation Benefit, which is built into the Plan will ensure that all future contributions will be paid by EFU following your death until the Plan maturity date. This means that the education funds you had originally planned for will still be available for your children.
Q: How will the current school fees be paid so that your child continues to receive the education necessary to prepare him for university education?
To deal with the problem of funding school fees after your death, the Education Plan also provides an Income Benefit. This benefit, which is optional, provides a fixed amount, payable quarterly in advance, to ensure that the school fees continue to be met. The quarterly income you choose will be based on your current school fees requirements.
Guarantee their education even if you should fall sick This optional Waiver-of-Premium Benefit provides that if you are unable to follow any occupation for at least six months due to sickness or accident, the present contribution to your Plan will continue to be paid in full by EFU.
This means that whether or not you continue to enjoy good health, your education plans for your children will succeed.
Inflation Protection
Under the Inflation Protection, the contribution will increase every year by 5% of the previous year’s contribution with an appropriate increase in benefits, without any medical evidence. For complete details about Education Plan, please download our product brochure.

http://www.efulife.com/templates/efulife/pdf/efu_education_plan.pdf

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