What is the Education Plan?
- Child Life Assurance Protection: In the event of the untimely death of the parent, the policy will offer a lump sum payment to the child.
- Accumulated Fund Payback: The cover provides for the payment of the accumulated cash value at the end of the agreed period after 24 months of completion.
- Parent Disability Protection: In the event of total permanent disability of the parent, the life cover will be provided by the firm until the maturity of the policy.
Kindly contact Old Mutual Ghana or your insurance intermediary and fill the application form as accurately as possible to facilitate quick processing of your cover. Submit the duly filled form and the premium payment to any of our local branches.
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- Partial withdrawals: The cover allows the parent to borrow from the policy if it gains cash value after two years of operation.
- Death of child payment: In the event of the death of the child prior to the end of the agreed period, the accumulated cash value is paid to the parent.
- The child must not be over fifteen years at the time of taking up the cover. This is to ensure that the policy has accumulated enough funds before the child is ready for higher education.