PREAMBLE

The greatest gift a parent can offer a child is to educate that child. With the ever-increasing cost of education, it pays to invest today for your child’s education tomorrow. If you believe in child education then the GLICO EDUCATION ENDOWMENT POLICY is what you need.

THE POLICY

The GLICO EDUCATION ENDOWMENT POLICY is essentially an investment plan designed to accumulate CASH for use in financing a child’s education.

The premiums paid are invested in profit-yielding ventures from which the insured obtains enough accumulated fund to meet the child’s education expenses at the time it is needed.

The Policy also provides personal protection for the child and premium-paying parent.

The child’s education is guaranteed (in proportion to premium outlay) should the parent die or become permanently disabled before maturity of the Policy.

Taking out the GLICO EDUCATION ENDOWMENT POLICY provides the most reliable and flexible way to secure the future education of your child without undue strain on your life-style.

HOW THE POLICY WORKS

The policy is made up of a cluster of seven (7) identical and independent policies. On the maturity/vesting date (that is when the child starts secondary or tertiary education as the case may be) the policies are paid out yearly at the beginning of each academic year over a maximum period of seven (7) years. That is at the beginning of each year one of the cluster of policies matures and a lump sum is paid out year after year until all the policies are paid out.

ADDED BENEFITS

CHILD PROTECTION ASSURANCE: If the insured parent dies during the period this Benefit remains in force, then the guaranteed amount of assurance shall become Paid Up. From that time on, all premium payments shall cease and the yearly amount of installment (the annuity) shall be payable on the due date to the named trustee(s) for the benefit of your child.

ACCIDENT DISABILITY BENEFIT: If the insured parent (premium payer) is involved in an accident and becomes permanently disabled from carrying on with his normal work, then the Policy shall pay the amount of benefit applicable under the accident indemnity benefit. This shall include total and permanent disability, dismemberment and accident monthly income benefits.

OPTIONAL BENEFITS

Under this policy, optional assurance cover can be purchased to provide the following benefits:

HOSPITALISATION INCOME BENEFIT: If the insured parent (premium payer) is hospitalized during the period this policy is in force, an amount of Benefit (optional) shall be payable as daily Hospital Cash Income Benefit for the number of days the insured shall be admitted in hospital up to a maximum period of one (1) year.

DREAD DISEASE BENEFIT: If the insured parent is diagnosed as having a dread disease during the period this Benefit remains in force, then the guaranteed amount of assurance (the sum total of the yearly installments payable as determined at the start of the policy), shall be made Paid Up. From that time on, all premium payments shall cease and the yearly amount of installment (the annuity) shall be payable on the due date to the named trustee(s) for the benefit of your child. Dread Disease includes; Cancer, Stroke, Kidney Failure, Liver Failure, Heart Attack, Paraplegia and Total Blindness.

VESTING AGE

If the child attains the age of 18 years, the Policy can be vested in his name in which case the assurance benefits on the parent’s life shall cease and the Policy premium adjusted accordingly.

MINIMUM PREMIUM

The minimum monthly premium is thirty-five thousand cedis (¢35,000.00).

MODE OF PAYMENT OF PREMIUMS

Premiums are payable by direct pay order or bank direct debit or by cheque to Gemini Life Insurance Company.

WHO CAN JOIN THE PLAN?

Any income-earning parent.

AGE LIMIT

The Child Education Endowment Policy is available for children up to age 18 years.

HOW TO JOIN THE POLICY

Contact: GLICO
P.O. Box 4251, Accra
Tel: 021-670335/689517
Fax: 021-7011575

Or complete and send to GLICO

Name: …………………………………………………………

Work Place: …………………………………………………………

Telephone No.: …………………………………………………………