WHAT WE OFFER The School-age citizens’ plan (SACP) is a life assurance savings plan designed to guarantee the education of your children. It provides a secured and convenient avenue to accumulate funds over a chosen period of time for the financing of the education of a named child up to college / University. The child is assured of a quality education and continuity if the event of parent / sponsor dies.

If by today’s standard, an estimated amount of =N=2 million is required for a child’s College/University education in 5 years, and considering inflation of 10%p.a, then =N=3.2million would be needed in 5 years to meet same cost. Monthly contribution of =N=41,500.00 into the SACP guarantees meeting this target. At maturity an educational fund is automatically created from which the child’s school fees are paid.

N.B Computations above assume yearly contributions and minimum return rate of 10% p.a., which is subject to monetary policy and economic environment.

• Minimum Policy Duration is 5 years.
• Minimum contribution is =N=30,000 per annum.
• Regular Contribution option of Monthly, Quarterly, Half-Yearly, or Single Lump Sum
• Creation of School Age Investment Account
• Competitive quarterly interest credit
• Life Assurance cover equivalent to total contributions payable on the policy.
• Contributions channelled into to investment portfolio with spread in properties, stocks, shares, lease rentals and treasury bills.
• Additional Lump sum contribution is allowed to boost education fund.
• Tax Relief on all contributions paid for income tax purposes.

1. Maturity Benefit- The accumulated amount in the School Age Account becomes an education endowment fund from which school fees are paid. Where the sponsor / parent survive the policy, the amount at maturity can be taken as a lump sum.

2. Death Benefit

• An Annual Upkeep Allowance of 15% of Sum Assured will be paid from date of death to the date of maturity.
• Contribution payment stops and the guaranteed life cover or the amount in the investment account whichever is higher becomes payable at maturity.

3. Waiver of Payment Of Contributions- On the disability of the plan holder anytime after the policy has been in force for at least 18 months.

• Full amount in investment account is payable from year 4
• Termination before year 4 is subject to the following penalties

• A notice of claim must be written to the Company
• Documentary Evidence (Death Claim)

1. Death Certificate
2. Medical Certificate of cause of death
3. Burial Certificate
4. Police Report (if death is by accident)

• Submission of Original Policy Document
• Prompt payment of all claims within 72 hours of completing

• Date of Birth/Age Next Birthday
• Annual Contribution Desired subject to a minimum of =N=50,000.00
• Duration/Term of policy