A children’s education plan has been introduced by Lasaco Assurance Plc to guarantee that their education would continue in the event of financial difficulties or the death of a parent or guardian.
According to a statement our reporter was given access to, the plan’s many advantageous and adaptable features guaranteed sponsors’ piece of mind while also guaranteeing continuity in schooling.
Razzaq Abiodun, Managing Director of Lasaco Assurance Plc, emphasised the importance of the initiative by saying: “In addition to other benefits, the Lasaco Children’s Education Plan ensures an educational legacy for children and wards. It pays a lump sum to beneficiaries in the event of the death of the sponsor.”
The plan, assuming premiums are paid on time, guarantees 75% of total contributions and the sum assured in the event of a death before maturity. It also has a minimum tenure of five years and flexibility for longer durations.
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Sponsors might withdraw up to 40% of the account balance following two years of premium payments, according to the statement. The policy included life insurance as well, and it may be relinquished after 24 months with paid premiums; early termination would incur a penalty.
Abiodun underlined Lasaco Assurance’s dedication to using technology to improve client satisfaction.
Abiodun said: “We use leading and innovative technological devices, techniques, and high-level IT development in deploying our daily activities, ensuring we deliver the best insurance services to our customers.”
