Student Life Insurance

This type of life insurance that provides assistance for children’s university education for a specific length of time.

Student Life Insurance is a type of an endowment policy every individual shall buy

*All insurance proposers shall undergo pre-policy medical checkup if and when necessary.*

Benefits of student life insurance

1. Death Benefit
   Twenty-five percent of the sum insured for the death of any child of ages between 30 days and three years, and the entire sum insured for the death of any child of ages above three years.
2. Permanent disability benefit
   Twenty-five percent of the sum insured for any child of ages between 30 days and three years, and the entire sum insured for any child of ages above three years.
3. Premium Waiver Benefit
   In case the policy buyer dies or suffers from total permanent disability due to disease or accident the policy shall be entitled to Premium Waiver Benefit for the remaining premium payment.
4. Benefits for education
   The insured child will be provided with 25% of the sum insured in four equal installments every year from the age of 17 years to the age of 20 years.
5. Paid-Up Policy
   In case the policyholder informs that he/she can no longer make further payments after continuously paying premium for a three-year period in a row for a certain reason, the company shall convert the policy into a paid-up policy. The paid-up value shall be paid to the insured on the date the policy term expires.
6. Surrender value
   In case the policyholder informs that he/she wishes to cancel his/her valid policy to draw surrender value, the company shall pay the Surrender Value in lump sum in accordance with the rate stated in the surrender value table.
7. Policy Loan
   A policy valid under continuous premium payment for a three-year period shall enjoy policy loan.

Exclusion

i. There shall be no Death Benefit if the death is the result of one of the following causes.
(a) Suicide committed during the first year beginning from the date the insurance term begins
(b) Death due to pre-existing disease the policyholder has withheld in filling the proposal
ii. There shall be no benefit for permanent total disability for one of the following causes.
(a) Permanent total disability due to drug abuse
(b) Permanent total disability due to taking of hazardous medicines
(c) Permanent total disability due to intentional self-harm
(d) Permanent total disability resulting from a failed suicide attempt
(e) Permanent total disability resulting the involvement in committing a crime
(f) Permanent total disability caused by the pre-existing disease the policyholder has concealed in filling the proposal

If you want to buy this insurance, please contact First National Insurance (Life) Co., Ltd. & F.N.I Branches or Insurance Agents dealing with FNI.