Not only does education set a good foundation in life but it also guarantees a good future for your child. Ensure your child gets a great education through the Edmaster cover.
What is Edmaster Cover?
Our Edmaster cover also provides assurance that your child’s fee is available even in the unfortunate demise of the policyholder (life assured) during the term of the policy.
To get Edmaster cover, click GET STARTED
Who can apply for an Edmaster Cover?
Parents or guardians who intend to accumulate funds meant to cater for a child’s educational needs in future.
Benefits
15% tax relief – The policyholder can enjoy a 15% Income Tax Relief up to a max. of Ksh. 60,000 per year on premiums paid as per The Income Tax Act (cap 470).
Cash benefits at Maturity – The sum assured is payable in 5 equal instalments commencing 5 years to maturity. The bonuses accrued are paid together with the final instalment.
Death Benefit – At the death of the life assured, the premium payments are waived and the policy remains in force, with all the benefits payable as originally planned
Additional benefit:
Funeral expense benefit – The policy can be taken with a Funeral Expenses benefit of up to a maximum of Kshs 50,000 payable on the death of the life assured.
Edmaster Policy types
The difference is only in terms of the number of payouts during and at the end of the policy:
- Type A: 1 ( one) Lumpsum payment at maturity
- Type B:
- BI - 4 (Four)Partial payments after Maturity
- BII- 6 (Six) Partial payments after Maturity
- BIII- 8 (Eight) Partial payments after Maturity
- TYPE C (aka 13C) – 5 ( five) Partial Payments commencing 5 years to Maturity
Calculate Your Premium
FAQs
Do I benefit by starting Edmaster Plan sooner than later?
Yes, the longer the saving period, the lower the premiums.
Who is the Life Assured?
The Life Assured is the person whose life is covered under the policy. It can the parent or guardian of the child
What are the allowed age limits for the Life Assured for the Edmaster Plan?
The minimum age at entry is 18 years while the maximum age at entry is 65 years. The maximum age at maturity is 70.
How do I pay my premiums?
The plan allows for monthly, quarterly, semi-annual and annual premiums payable during the cover period.
Who is paid in case of death?
The nominated guardian, if the child has not reached the age of 18 at the time of claim. Otherwise, payment is made to the nominated child.
Ready To Start Your Financial Journey?
Let us assist you to choose a great plan for a greater tomorrow
Start LearningGet A Call Back
