What is Children Education Plan

Quality education is the desire of most parents for their children. However, quality does not come cheap, income is not stable and life itself is uncertain.
Children Education Plan has been structured towards ensuring quality education for your children and wards easily and in a most efficient manner. This policy allows you to conveniently save towards sending your children/wards to any school of your choice whether within the country or abroad.
The Child Education Plan guarantees the future education of your children/wards at whatever level. It ensures that they have access to the quality of education you desire for them, whether you are there to do it or not.
Just like in the ISP, a plan holder starts making a compulsory and regular savings for a number of years. The choice is however yours to decide on the duration of the policy, but this shall not be less than five years. The premium payable shall depend on the ability of every individual to contribute, although, the higher the premium, the higher the benefits enjoyed. We also allow some flexibility in the frequency of the premium payment. In other words, you can pay monthly, quarterly, half-yearly or once in a year.

If the parent dies before the completion of the duration of the scheme, the total sum he/she intended contributing into the scheme till maturity shall be made available for the child’s education.

Benefits of Child Education Plan
·         Convenient way of funding Children’s education
·         Ensures realization of Children’s education
·         Guaranteed minimum return on your Investment
·         Helps you to cultivate regular savings culture
·         Serves as additional security to obtain loan in bank
·         Tax rebate on your investment (the only legal means you can reduce your tax burden)
·         Guarantees future education of your children whether the parents are alive or not.
·         Solid income protection for the family in case of untimely death.


Source:mbaplc/mbaplc-1/products.php?id=cep

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