This policy is designed for you to pay the school fees of a child or ward, in the event that an insured parent or guardian passes on or becomes permanently and totally disabled.

In such circumstances where the ability to pay subsequent fees would otherwise no longer exist, the child or ward will not suffer the misfortune of having his/her education interrupted or altogether terminated.

What does the policy cover?
It is a 3 year term policy which covers the duration of your child’s (or ward’s) education in an institution of learning, e.g. Senior High School;

The policy can only be bought upon confirmed admission to an educational institution e.g. SHS;

The policy pays only school fees that become payable after the death or permanent and total disability of a parent or guardian wholly, responsible for the payment of school fees.

Who is eligible to take this policy?
Parents or guardians who are wholly responsible for the payment of the school fees of their child(ren) or ward(s) can take the policy.

The parent or guardian must not be older than 65 years at the time the policy is taken out (i.e: when the child or ward gains admission into the educational institution, or at the commencement of the second (2nd) or third (3rd) year of the policy.).

What do I need to sign on to the policy?
You must produce the Admission letter issued by the educational institution to which your child or ward has been admitted.

Additionally, you must have a fairly good idea of the amount of school fees likely to be paid for the duration of the schooling period, so that the policy will pay adequate amounts to meet the remaining cost of fees, in the event that you pass away or become totally disabled and unable to work to earn any income.

What guarantees are available that school fees will be paid?
You can nominate a trustee (whose integrity is without question) to whom the amount insured will be paid termly and who in turn will remit the fees to the Educational Institution.
Or, you can entrust this responsibility to the SIC Life Company which will ensure that any amounts due are paid promptly and fully, without fail. (A small charge will be made if you choose this option).

How are claims paid?
The Trustee will furnish satisfactory evidence of the death or permanent and total disability of the parent or guardian to SIC Life Company Ltd.
When the evidence meets the requirements, the Policy will pay the insured TERMLY BENEFIT commencing from the school term following the death or permanent and total disability, either:

• to the Trustee for onward remittance to the educational institution in question; or
• directly to the school in question, upon demand of an official bill.

NB: The policy will not pay any fees that have become payable or any arrears during the active lifetime of the parent or guardian.

Excess in the termly benefit and the actual fees payable
The Trustee or SIC Life Company may turn in any excess over to the child or ward for his/her use. Alternatively, the Trustee or SIC Life will keep any excess funds that will accrue over the entire duration and turn it over to the child or ward at the end of the schooling period.

These amounts may become useful in procuring essential logistics, especially for the final examinations or in preparations towards the next stage of education or training.

What happens if beneficiary child/ward dies?
You will be paid 50% of the amount insured (ie. TERMLY BENEFIT) to the parent or guardian as a death benefit.

For further information, contact accredited sales representatives, any SIC LIFE Office near you or the offices listed on this site.