We know that when families first hear about Education Insurance, many questions arise. How much does it cost? At what age can my child start? What happens if I cannot pay for a month? This article answers the most common questions so you can make a fully informed decision.
What does Education Insurance involve?
VidaSEguros EG's Education Insurance is an endowment insurance policy that combines savings and protection. Here is how it works:
- You pay a monthly contribution, and the money grows in a fund reserved for your child's education.
- If something happens to you, VidaSEguros EG guarantees that your child continues receiving this capital annually until age 22, whether or not the guardian is there.
In other words: whatever happens, your child's academic future is protected.
What exactly does that include?
The insurance covers the death or total and permanent disability of the guardian. In either case, VidaSEguros EG ensures the fund continues and guarantees annual capital payments to the child until age 22.
The accumulated fund covers every stage of education: from before birth through to university, including studies abroad.
How much does it cost? What is the minimum contribution?
The minimum premium is 20,000 XAF per month. From there, you decide how much to contribute. You can adjust your payment to suit your circumstances at any time.
The higher your monthly contribution and the earlier you start, the more capital you will accumulate for when your child needs it.
From what age can my child start?
There is no minimum age. Education Insurance can be taken out even before birth, allowing the fund to be built from the very beginning and maximising the capital's time to grow.
There is no maximum age either. The sooner you start, the better, but it is never too late to protect your child's education.
When and how is the monthly contribution paid?
The premium is paid monthly. Available payment methods are bank transfer and direct payment at our offices.
If you are unsure which payment method is most convenient, our team will advise you when you take out the policy.
What happens if I can no longer keep paying?
The capital you have contributed up to that point does not disappear. The accumulated fund still belongs to you and your child.
If your circumstances change, the best approach is to contact VidaSEguros EG directly to review the available options and find the solution that best suits your situation.
What do I need to take out Education Insurance?
The process is very simple. All you need is:
- Age of child
- Your DIP identity document or passport
- Choose your monthly premium
That is all. Our team handles the rest.
How can I get a quote?
The quotation is completely free and non-binding. You can request it in three ways:
- Visit us on Abilio Balboa Street, Malabo (next to the Ministry of Health)
- By calling +240 222 854 950 or 350 093 651
- By writing to info@vidaseguros-eg.com or entering www.vidaseguros-eg.com
When preparing your quotation, we work out the plan that best suits your means and the future you want to build for your child.
If you have a question not covered in this article, please write to us. We are here to help you make the best decision for your family.
