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My Child’s Education Insurance

Allianz - childEducation


A child means everything to a parent. You, as a parent, are the rock your child stands upon…

Have you ever thought about how your children will maintain their education if something bad happens to you?

We offer you My Child’s Education Insurance which ensures that your child’s education is preserved in the case that an accident should befall you.

My Child’s Education Insurance will cover the educational expenses of your children for a period of time, which you may specify, in the event that you suffer loss of life or permanent disability as a consequence of any traffic accident, accident on public transport and other specified incidents.


Terms of My Child’s Education Insurance

Premiums are payable either in advance or by installment via credit card or cash accounts within the first year of insurance. You are not obliged to renew the policy for the defined period of insurance.

Any individual aged 18 to 63, who has the capacity to exercise his/her civil rights, may have a My Child’s Education Insurance policy.

Coverage

Coverage for Loss of Life due to Accident: In the event that an accident occurring within the insurance period causes the policyholder to lose his/her life either immediately or within one year of the date of the accident, coverage shall be paid to the beneficiaries of the policyholder.

Coverage for Permanent Disability due to Accident: In the event that the policyholder suffers from total or partial permanent disability, he/she shall receive the payout.

We Also Provide You with Assistance Service Coverage!

You may benefit from the Assistance Service we offer under emergency coverage throughout the time you are covered by My Child’s Education Insurance.

Emergency land ambulance service

24-hour medical assistance service

Accidents* Covered

  • Traffic accidents
  • Home accidents
  • Burns
  • Terrorism
  • Pick pocketing and bag snatching
  • Health problems resultant of unintentional inhalation of toxic fumes
  • Injury or death due to bites, such as rabies

* Any sudden, unexpected incident, out-with the control of the policyholder, which results in death, permanent disability or physical injury, is referred to as “accident.”

Calculation of Coverage


In the event of loss of life or disability due to an accident, the coverage determined at inception will be paid to the beneficiaries. The period of coverage for the beneficiaries is the remaining length of the policy from the date of the accident.

Let’s exemplify:

  • Assume that your child needs some $10,000 for education per year for five years.

  • In the event that the risk occurs within the first year of insurance, $10,000 per year will be paid to the beneficiaries for five years.

  • Should the accident occur within the third year of insurance, such $10,000 will be paid annually for three years.

  • As we can see, the total level of coverage reduces with time throughout the insurance period.