Future Education Plan (FEP)

Every Parent wants their Child to have the best higher education in this increasingly competitive world. But higher education becomes more and more expensive year after year, and if you want to be sure that a sufficient amount of money is available when your Child goes to college, you have to plan and save regularly.

No Parent can be certain of survival in order to provide for their Family and achieve the necessary financial targets without a proper action plan. This Plan gives you a high level of security and peace of mind.

Our Future Education Plan ensures a disciplined and regular saving habit which will act as a saving vehicle so that even if you are put out of action due to disability or early demise, the saving strategy will still be achievable.

This Plan provides coverage on a joint life or single life basis, including guaranteed investment returns designed to finance the high cost of education fees for the future needs of your Children.

 
In Case of Death or Permanent Total Disability, bnl Will Provide The Following:
  • Payment of the remaining future premiums will be waived.
  • Family Income Benefit: A monthly income will be paid to the Beneficiary (or Legal Guardian) until the maturity date.
  • On the maturity date of the Policy, the guaranteed maturity value will be payable to the Beneficiary (or Legal Guardian).
 
Other Features:
  • Permanent Total Disability (Optional).
  • Permanent Partial Disability (Optional).
  • Accidental Death Benefits (Optional double indemnity).
  • Total Temporary Disability (Optional) providing a weekly income in the event of total disability.
  • Critical Illness Benefit (Optional) - covering cancer, heart attack, stroke and many other conditions.
  • Joint Life capability enables Husband and Wife to obtain equal cover on 1 Policy, meaning combined protection for both Husband and Wife at a reduced overall cost, with a single payout in the event of the first to make a valid Claim.
  • Guaranteed Insurability Benefit options for Child. On attaining certain milestones the Child will be eligible to enjoy life cover at the standard rates applicable for his/her age at the time of the event and will be guaranteed cover without proof of good health (future cover guaranteed).
  • Premium flexibility: Premiums can be paid monthly, quarterly, half annually, annually or as a single payment. Alternatively, if you prefer, a premium frequency allowing 10 equal payments per year can be made (this is a convenient way of planning for a 2 installment premium break timed with the announcement of Ramadan).
  • Major Medical Expenses (Optional), Medical Expenses Benefit (Optional) and hospital daily cash benefit.
  • Premium Waiver Benefit (Optional) in the event of disability affecting the premium Payer (other than the Life Assured).
 
DOCUMENTARY EVIDENCE REQUIRED TO PROCEED WITH APPLICATION