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.
- 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.
- 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.
- 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.