EDUCATOR PLAN-OLD MUTUAL

The Old Mutual Educator Plan helps you save towards your child’s education.

Parents/Guardians who want to purchase the Educator Plan are required to set aside part of their monthly earnings from GH¢50.00. Children under the policy must be less than 15 years old and a policyholder has the option to select a term 10, 15, or 18 years for which the policy will run.

WHO IS THIS PLAN FOR?

People 18 years and older can purchase this policy.

HOW IT WORKS

• Flexibility - the monthly contributions may be increased if you can afford it.
• In the event of the parent’s death, both the total cash surrender value and the sum assured death cover will be paid to the child (beneficiary).
• In the event of permanent disability of the parent, Old Mutual will continue with payment of monthly contributions till the policy matures.
• In the event of the death of a child, the parent receives a a cash value as at the time of death.
• There is an opportunity for parents to access up to 50% of their accumulated funds twice in a year as long as the policy has been in force for 2 years. However, Old Mutual advises against this because the purpose of this long-term savings towards your child’s education might be defeated. A parent can also decide to terminate the policy after 2 years.

HOW DO I INVEST IN OLD MUTUAL EDUCATOR PLAN?