Stanbic IBTC Insurance, a subsidiary of Stanbic IBTC Holdings, has launched the “Education Endowment Plan” in an effort to enable parents and guardians in Nigeria to secure the financial future of their wards or children.
At its Lagos head office, the product was presented to the media during an interactive session. The company wants to spread the word about how important it is to invest in education through this launch.
The company claims that the Education Endowment Plan encourages guardians and parents to invest in their children’s future education by taking a long-term approach.
Parents can benefit from a complete investment option that protects their children’s academic journey by choosing the Stanbic IBTC Education Endowment Plan.
The CEO of Stanbic IBTC Insurance, Akinjide Orimolade, stated during the media engagement that the Education Endowment Plan provides a robust financial safety net for families.
He stated, “This product ensures the protection of their children’s education, regardless of life’s uncertainties; providing reassurance and confidence. By making strategic investments today, parents can secure access to education for their children, enabling them to realize their full potential and pursue their aspirations.
“We are proud to launch the Education Endowment Plan campaign, an insurance product that aligns with our commitment to empowering parents in Nigeria to attain financial security for the education of their children. As a leading insurance provider, we recognize the profound impact education has on a nation and its populace, and we are dedicated to supporting parents in their quest to provide quality education for their children by ensuring the future,” he added.
Continuing, “The loss of a parent or guardian is profoundly devastating and can greatly affect a child’s educational journey. With this in mind, we have created a product to reassure parents and guardians. It ensures that their children and wards’ education will remain secure and uninterrupted regardless of life’s uncertainties,” Orimolade revealed.
Following the banking and finance news, among the many advantages of the Stanbic IBTC Education Endowment Plan are: it offers peace of mind to parents and guardians; it guarantees the child’s or ward’s education; it provides financial support for dependents in the event of death; it can be used as collateral to secure a loan in the event of an emergency; and when the plan matures, the targeted amount is payable, along with a bonus that enhances the benefits, making it an effective vehicle for saving.
The minimum and maximum entry ages under the scheme are 18 and 65, respectively, and the maximum exit age is 70. The premiums can be paid monthly, quarterly, semi-annually, annually, or as a lump amount. The plan periods vary from five to twenty years. A minimum benefit of N1,000,000.00 is offered as coverage against death from any cause. A reversionary bonus, currently guaranteed at 2 percent of the guaranteed amount assured, starts to accumulate at the end of each year, and the policyholder specifies the guaranteed sum assured in advance.
A solid and respectable past supports Stanbic IBTC Insurance. The Stanbic IBTC Group has been providing exceptional service for more than 20 years, and its performance is well-established.
Orimolade advised guardians and parents to establish the Stanbic IBTC Education Endowment Plan in order to take immediate responsibility for their children’s future.
“We can empower the next generation to achieve greatness and build a brighter future for Nigeria just by the investments we make today. Your decision today can significantly impact your child’s or ward’s future; making you feel empowered and responsible for their success,” Orimolade said.
The Education Endowment Plan serves as a wake-up call for parents and guardians to make wise decisions for their wards. Acquiring this insurance policy gives students a competitive edge going ahead and represents a major advancement in obtaining a revolutionary investment in their academic security.
The procedures demand that applicants must fill out a proposal form and submit supporting documentation, such as a passport photo, evidence of residency, and valid identification to begin the Stanbic IBTC Education Endowment Plan process.
You can also call 02012706801 or send an email to educationendowment@stanbicibtc.com
