An education product with three options. Under option 1, the full sum assured and accrued bonuses are paid in one lump sum at maturity. Option 2 has the premium paying term and benefit payment term. At the end of the premium paying term, the sum assured and accrued bonuses are paid in equal instalments of four or six years as desired.
Option 3 provides annual and equal anticipated benefits during the policy term, and the sum assured is paid in four equal instalments commencing four years to maturity. The accrued bonus of 1% p.a. is paid together with the final instalment
All future premiums are waived on the death of the life assured and benefits remain as original, while on the death of the beneficiary a substitute beneficiary can be introduced or all premiums paid can be refunded to the policyholder.