Securing children’s future with Mutual Benefits Assurance Education Plan
Mutual Benefits Assurance Plc
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Securing a child’s education remains one of the most important responsibilities of every parent, yet rising school fees and unexpected life events often make long-term planning difficult. To address this challenge, MUTUAL Benefits Assurance Plc promotes MUTUAL Children Education Plan, a structured insurance-backed savings product designed to ensure children’s education is never disrupted, even in difficult circumstances.
The plan allows parents and guardians to make regular contributions regularly for at least five years. Contributions can be paid annually, semi-annually, quarterly, or monthly, offering flexibility based on income flow. At maturity, policyholders receive accumulated benefits, or in the event of the policyholder’s demise, the sum assured is paid to the named beneficiary to cover school fees and other educational needs.
The plan also offers an interest rate per annum on contributions, subject to market review. Beyond savings, it provides life cover as the primary protection, with optional benefits such as permanent disability, critical illness, and accidental medical expenses available at an additional premium.
The sum assured is calculated by multiplying the annual contribution by the policy duration, giving clarity and predictability for long-term planning. While partial withdrawals of up to 50 per cent of the account balance are allowed after two years, the policy is structured to encourage continuity until maturity.
MUTUAL Benefits Assurance Plc notes that the plan is designed to give parents peace of mind, ensuring that even in unforeseen circumstances, a child’s education journey remains uninterrupted and financially secured.
For more information on Mutual Benefits Assurance Plc products, visit any of the nationwide branches, call 2348169042592, or email info@mutualng.com.
