Continuous Educational Endowment Plan (CEEP)

This is an Endowment Life Assurance Plan which can be effected on the life of a parent or guardian, for the benefit of a named child in order to cater for the child’s educational expenses in the event of the death of the parent or at maturity of the policy.

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Features of the Plan

  • The assured/parent determines the maturity period which should correspond with the child’s anticipated school age at any level of education
  • Sum assured is selected by the assured in accordance with his ability to pay the premium
  • Sum assured is payable on the death of the life assured and is applied to fund the child’s education without interruption
  • Benefits could be paid in installments or lump sum

Benefits

  • Savings for future
  • Additional accidental death benefit
  • 100% waiver of premium benefits
  • Tax relief on premium paid benefits are tax-free
  • It can be used as collateral security
  • The policy qualifies for loans after two years premium payment
LIFE INSURANCE