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AL-MAWARID Bank and Allianz SNA create a new Bancassurance partnership for the Retirement and Education Saving plans
 
 
Education Saving Plan

Every parent’s desire is to secure their children’s future.

With the “EducationPlan” proposed by AL-MAWARID Bank s.a.l. and Allianz SNA s.a.l., you can guarantee your children’s education and ensure them a bright future, according to your personal preferences.

What will you benefit from?

• A minimum rate of return of no less than 5% until December 2018
• An extra return on investment according to the dividends rate declared every year by Allianz SNA
• The same rate of return on optional additional feedings
• Protection on the sum insured and tuition amounts against inflation with an annual variation rate between 1% and 10%
• A flexible plan that allows you to modify sum insured, tuition amounts, monthly premium and variation rate at policy anniversary
• The option to receive the tuition amounts at maturity as a lump sum or spread over annuities according to your preference
• Automatic direct debit from your account with no additional charges to settle the premium payments


What insurance coverage will you get?

In case of Natural or Accidental death (basic cover) or Total Permanent Disability of the insured (optional additional cover), Allianz SNA s.a.l. will:
• Continue to pay the due premiums up to the maturity date in order to insure the university tuitions of the child
• Provide an additional protection aiming to insure the schooling tuitions of the child (optional)


What are the characteristics?

• Age at entry :between 18 and 55 years old 
• Period of scheme :minimum 8 years, maximum until insured is 65 years old
• Minimum premium: USD 50 / Month

To read more about this plan, please click here