A segment of Stanbic IBTC Holdings, Stanbic IBTC Insurance has introduced its much awaited Education Endowment Plan, enabling parents and guardians to safeguard their wards’ or children’s academic future.
The Education Endowment Plan, which is aimed at young adults, encourages parents and guardians to take a long-term approach to investing in their children’s educational future. The company hopes to increase awareness of the value of education spending through the launch.
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“We are pleased to present the Education Endowment Plan campaign, an insurance solution that is in line with our mission to enable Nigerian parents to achieve financial stability for their children’s education. As a leading insurance company, we are committed to assisting parents in their efforts to give their kids a top-notch education by insuring the future. We acknowledge the significant influence that education has on a country and its people,” Akinjide said.
He added, “Losing a parent or guardian can have a profoundly devastating impact on a child’s scholastic journey. We have developed a product to reassure parents and guardians in light of this. It guarantees that their wards’ and children’s education will continue unhindered and safely despite life’s uncertainties.”
The plan’s features include a maximum exit age of 70 and minimum and maximum admission ages of 18 and 65, respectively. Premium payments can be made on a monthly, quarterly, semi-annual, annual, or lump sum basis, with plan periods ranging from five to twenty years. Protection against death from any cause is offered, with a N1,000,000.00 minimum benefit. The policyholder specifies the guaranteed sum promised in advance, and at the conclusion of each year, an annual reversionary bonus that is currently guaranteed at two percent of the guaranteed sum assured starts to accrue.
Stanbic IBTC Insurance has a solid and well-regarded background. The Stanbic IBTC Group has provided outstanding service for more than 20 years, and their track record speaks for itself.
Akinjide advised guardians and parents to establish the Stanbic IBTC Education Endowment Plan in order to take immediate responsibility for their children’s future. “With the investments we make now, we can enable the next generation to achieve greatness and create a more promising future for Nigeria. You feel empowered and accountable for your child’s or ward’s success because of the substantial influence your decision today will have on their future.”
The Education Endowment Plan serves as a call to action for guardians and parents to make wise decisions for their wards and children. Acquiring this insurance coverage gives students an advantage going ahead and is a major step in securing a revolutionary investment in their academic stability.
Applicants must fill out a proposal form and submit supporting documentation, such as a passport photo, evidence of residency, and valid identification, in order to begin the Stanbic IBTC Education Endowment Plan process. Alternatively, you can email educationendowment@stanbicibtc.com or give 02 01 270 6801.