Education Loan Assurance is essentially an insurance coverage for education loans. In the event of death or permanent disablement, your total outstanding of the education loan will be fully paid.
Coverage
- Two types of coverage namely single (student) and joint (student and the payor).
- Protection for the borrower in the event of death due to any causes, or total and permanent disablement (TPD).
- Coverage period - Maximum 10 years.
Features
- In the event of early settlement of loan, the policyholder can surrender for cash surrender value or can be assigned to cover other loans or converted to a personal reducing term assurance.
- 100% refund in the event of loan cancellation (1st year only).
- Repayment period - Minimum 5 years.
- Deferment period - Minimum 0 years and maximum 5 years.
- 24-hour worldwide protection.
Eligibility
- Student - Minimum age is 16 years old
- Payor - Minimum age is 25 years old and maximum age is 60 years old. Act now!
Call Centre at 1 300 885 055.
