SICOM

Child education

Child Education

Planning your child’s education with a savings plan that offers flexible investment personalised as per your needs and budget.

About this product

SICOM Angel Plan has been designed to enable parents to save for their children’s future cost of education and provides maximum security in case of death and/ or disability of the parent/s.

Highlighted features
  • Choice of Early Encashment

    Choice of getting a lump sum at maturity or cashing part of Sum Assured earlier

  • In case of Death or Permanent Disability of parent

    The policy remains in force in such unforeseen circumstance

  • Range of Benefits

    Provision of Death cover, Total & Permanent Disability and Student Income Benefits under one single policy

Product Features

Choose SICOM Angel Plan & benefit from:

  • Maturity Benefits

    Sum Assured plus bonuses accrued to be paid in a Lump Sum at maturity or option to cash part of the Sum Assured earlier by opting for an Annual benefit payable for the last five years of the policy

  • Death or Disability Benefits

    In case of death or permanent disability of parent, the full sum assured becomes payable. Premium is waived (no need to pay future premiums) and on maturity of the policy the Sum Assured is again payable with accrued bonuses

  • Student Income Benefit (Optional)

    A student income benefit can be purchased which will be payable on a monthly basis to the child in the event of death or disability of the parent

  • Additional Benefits

    The plan can be pledged as collateral security for a housing loan taken with SICOM Ltd

( Terms and conditions apply)*

Useful Information

Death or Disability benefits

In case of death or permanent disability of parent, the full sum assured becomes payable. Premium is waived (no need to pay future premiums) and on maturity of the policy the Sum Assured is again payable with accrued bonuses.

 

Student Income benefit (optional)

A student income benefit can be purchased which will be payable on a monthly basis to the child in the event of death or disability of the parent.

 

Additional Benefits

The plan can be pledged as collateral security for a housing loan taken with SICOM Ltd.

Parent Age at entry between 18 and 60 subject to underwriting

Age Limit At Start
Child as from birth; Parent Minimum 18 years & Maximum 65 years

Age Limit At Maturity
Child to be within 18 and 25 years ; Parent’s next birthday + terms not exceeding 70 years

  • National Identity Card
  • Recent Utility Bill (not more than 3 months old)
  • Birth certificate
  • Marriage Certificate (if applicable)
  • Bank details for payment of premium

Bonus rates awarded are heavily reliant on the interest rate environment, as well as other experience factors.  The bonus rates are not guaranteed but are merely used to illustrate the impact of different bonus rates on the projected maturity value.  The actual bonus rate awarded will depend on the investment return earned on the assets and other items of experience such as claims and expenses relative to expectations.

In the past SICOM has granted bonus rates ranging from 3% to 5.5% - depending on investment performance, the interest rate environment and other items of experience.

Highlighted features
  • Choice of Early Encashment

    Choice of getting a lump sum at maturity or cashing part of Sum Assured earlier

  • In case of Death or Permanent Disability of parent

    The policy remains in force in such unforeseen circumstance

  • Range of Benefits

    Provision of Death cover, Total & Permanent Disability and Student Income Benefits under one single policy

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This product is offered by: State Insurance Company Of Mauritius Ltd

BRN:C07007065

FSC License No: IS10000020