Overview 
This plan provides lump sum benefits at the end of the chosen period to the beneficiary or death of the account holder during the term of the plan. It is a hybrid plan which offers an investment and a substantive life insurance cover to meet life contingencies such as disability and dread diseases, whether alive or dead. It is an endowment plan that provides policy holders with extra needed support towards the education of their wards.

Qualifying Criteria/Target Market 
Individuals between the ages of 18 and 50 

Here's what you'll get with the Child Education Plan

• The sum assured when the policy matures

Things to know

• The plan can be taken for a minimum of 10 years and maximum of 25 years
• Premiums are payable in advance or on or before their respective due dates
• A waiting period of 91 days shall be applicable for natural death
• A grace period of 31 days shall be granted for the payment of every contribution during which period the cover shall be in force
• The plan shall be inactive if contributions are not made on or before its due dates
• Incremental annual options of 10%, 15% and 20%
• Applicants must have an account with GCB Bank
• It allows for substitution of beneficiaries

Benefits for the customer

• The Insurer shall pay the death benefit to the primary beneficiary / beneficiaries
• If no named beneficiary is living when the account holder dies the proceeds will be paid to the estate of the deceased account holder
• The plan acquires surrender value after it has been in force for 24 months without default
• The insurer provides soft loan to policy holder after 36 months

Requirements

• Completed application form
• ECOWAS Identity Card (Ghana Card)

Eligibility criteria for claim payments

• Policy holders can claim sum assured upon maturity
• Upon death - Medical cause of death / Death Certificate in case of death of policy holder
• Police report in the event of death resulting from accidents
• The original plan/Policy document