Nigeria is the most populated country in Africa, with approximately double the population of both Ethiopia and Egypt, and for the Nigerian education system this means incredible new demands that the government is currently hard pressed to meet. The number of students has grown from under 15,000 in 1970 to approximately 1.2 million today.
With education becoming an important part of a child’s future and expenses for education rising, it is only natural for parents to want to secure their children’s future, which is why education insurance is the way. Education insurance, Eduplan as many call it, gives a child or children the security they need in any unforeseen event.
Why have Education Protection?
Having education insurance means the provider of the family can ensure that the education of his dependants is not unduly terminated because of an unexpected event. Many plans also provide a medical expense cover for the child for injuries sustained whilst engaged in school related activities on the school premises. Parents like to choose the right plan for their children, each plan and its cover is carefully designed to suit individual needs, such as:
· Policy designed solely to child for a child’s Education
· School fees paid directly to the school until the completion of the child’s education
· Single premium
· Fixed sum assured
· Fixed premium
· Guaranteed payment of fees and other educational requirements
· Medical cover
· The premium is tax deductible
· The benefit is tax free
· Instalment premium payment allowed
When choosing an education plan it is important to know exactly what a child will need if anything was to happen to the family provider.