School Fees Plans

ZSIC Life has on offer an Endowment Plan which may enable Parents and Guardians to meet the financial obligations associated with the payment of School Fees for their children.
With this policy, parents can now plan to take their children to a school of their choice with relative ease.

What does policy do?

The policy is taken out to provide the payment of education fees for the nominated child, which is payable when the child reaches the school category stipulated in the chosen option.
The Parent or Guardian selects the level of anticipated annual school fees.

What options are available?


Primary School Fees

This is offered with premium paying terms between age of nominated child at policy commencement and age at entry into Primary School.
When the nominated child reaches the age of entry into Primary School, the selected annual school fees are payable for 7 years.

When do premium payments cease?
Premiums must be payable for a minimum of 1 year and cease when the nominated child reaches the age of Primary School entry.


Secondary School Fees

This is offered with premium paying terms between the age of nominated child at policy commencement and age of child at entry into Secondary School.
When the nominated child reaches the age of entry into Secondary School, the selected annual school fees arepayable for 5 years.

When do premium payments cease?
Premiums must be payable for a minimum of 1 year and cease when the Life Assured reaches the age of secondary school entry


Tertiary School Fees

This is offered with premium paying terms between age of nominated child at policy commencement and age at entry into Tertiary Education.When the nominated child reaches the age of entry into tertiary school, the selected annual school fees are payable for 4 years.

When do premium payments cease?
Premiums must be payable for a minimum of 1 year and cease when the nominated child reaches the age of tertiary school entry.

When do premium payments cease?
Premiums must be payable for a minimum of 1 year and cease when the Life Assured reaches the age of tertialy school entry.

FAQs School Fees

Will interest be added to the Sum Assured at the time of claim?
This policy is offered with or without profits. If it is With profit policy, the policy participates in the profits of the company. The profits are determined as part of the regular statutory valuation when a bonus to policyholders is declared.

Non-profit policies do not share in the profits of the company and that the ultimate benefits paid is the initial sum assured.

What happens if the Life Assured dies?
In the event of death of the Life Assured before payment of school fees commences, all premiums paid, including interest, are returned to the Assured.

What happens if the Life Assured dies in the period when school fees are being paid?
In case of death of the Life Assured during the period when school fees are being paid all future school fees due shall be paid to the parent or guardian in a lump sum.

What happens if the Assured dies?
In event of death of the Assured responsibility of paying future premiums shall be transferred to the Corporation until school fees become payable

Can you combine the 3 School Fees option?
This is offered with premium paying terms from birth of the nominated child up to the age of Tertiary School entry. The policy term ranges from Primary to Tertiary School entry till completion, with benefits payable for 16 years. Premiums must be payable for a minimum of 1 year, with premiums ceasing when the nominated child reaches age of entry into the school category or option. i.e Primary, Secondary or Tertiary.

This implies that a premium term could be selected such that premiums and benefits are paid simultaneously for part of the policy term.

When the Life Assured reaches the age of primary school entry, the selected annual payment is payable for 16 years.

Can you combine the Primary and Secondary School Fees option?

This is offered with premium paying terms between the age of nominated child at policy commencement to the age of Secondary school entry. i.e. for ages from birth to the age of entry into the Secondary School of the nominated child at inception of the policy. The policy benefits term ranges from
13 to 17 years, with benefits payable in the last 12 years.Premiums must be payable for a minimum of 1 year, with
premiums ceasing when the nominated child reaches the age of entry into the school category.

This implies that a premium term could be selected such that premiums and benefits are paid simultaneously for part of the policy term.

When the nominated child reaches the age of entry into the school category, the selected annual school fees are payable for the duration the child will be in category of school fees.

Can you combine the Secondary and Tertiary School Fees option?
This is offered with premium paying terms between the age of the nominated child at policy commencement to the age of tertiary school entry,i.e. for ages from birth to the age of Tertiary Education entry of the nominated child at the inception of the policy. The policy term ranges from 10 to 21 years, with benefits payable in the last 9 years. Premiums must be payable for a minimum of 1 year, with premiums ceasing When the Life Assured reaches age 19. This implies that a premium term could be selected such that premiums and benefits are paid simultaneously for part of the policy term.

When the Life Assured reaches the age of 14, the selected annual school fees are payable for 9 years.

  • The minimum age at entry of the Assured is 20 with the maximum age at entry of 64
  • The maximum age at maturity of the Assured is 65.
  • The minimum Sum Assured is K1,000,000, subject to a minimum premium of K35,000 (inclusive K,5000 policy fee).