Mutual Benefits Life Assurance strengthens education planning with Children Education Plan
Mutual Benefits
The joy of every parent is to raise children who will be better than themselves. In line with this aspiration, Mutual Benefits Life Assurance Limited has reaffirmed its commitment to family financial security through its MUTUAL Children Education Plan, a product designed to guarantee the fulfilment of parents’ educational dreams for their wards.
The Children Education Plan is a long-term financial solution aimed at helping parents and guardians secure the educational future of their children, while providing peace of mind amid life’s uncertainties.
Speaking on the initiative, the Managing Director of Mutual Benefits Life Assurance Limited, Mr. Biyi Ashiru-Mobolaji, said the plan was carefully structured to combine disciplined savings with insurance protection.
“The plan is tailored to support parents’ aspirations of raising children who will be better equipped for the future, by ensuring steady savings and protection that can be accessed at maturity or deployed for school fees in the event of the policyholder’s demise,” he said.
Under the scheme, subscribers are required to make a minimum annual contribution for a duration of at least five years. Contributions are flexible and can be paid annually, half-yearly, quarterly or monthly, making the plan accessible to individuals across different income levels. Contributions attract an interest rate per annum, subject to review in line with prevailing market realities.
The policy primarily covers the risk of death, with benefits payable either to the policyholder at maturity or directly towards the beneficiary’s education in the event of death. Optional covers such as permanent disability, critical illness and accidental medical expenses are also available at additional premiums.
The plan is open to individuals aged 18 to 60 years and allows partial withdrawals of up to 50 per cent of the account balance after two years.
For more information on Mutual Benefits Assurance Plc products, visit any of the nationwide branches, call 2348169042592, or email info@mutualng.com.
