As the single caretaker of the family and the only source of income in the household, single mothers often have a nagging feeling that most parents do not – who will take care of their family if they are not around.
There are many things that can weigh on you: the financial responsibility of providing for your family typically rests on you alone, taking care of your household and paying bills, meeting your children’s needs, and worrying about who will provide for them should something happen to you.
Luckily, the pressure and the associated stress of all these responsibilities can be lightened with a Sacos Education Plan!
Why you should consider an education plan:
Sacos’ Education Plan is designed to help you save by means of a small monthly contribution. The policy is taken on your life with your child being named as the beneficiary, and only he or she will be able to receive the money upon maturity. You do not have to worry about someone else profiting from your hard work and your child’s inheritance when you are not around to protect them.
I am a mother to more than one child. How will they all benefit?
We know that your children come first, and it would not be fair if they were not all availed to the same opportunities. The great thing about this plan is you can take any number of policies depending on the number of children for whom you want to provide Education benefits to!
What if I die before the policy matures, will my children still be taken care of?
YES! In the sad event of your demise, the full sum assured plus any bonuses accrued is payable to your children. How it works is you assure the terms for either 10, 15 or 20 years, of which 10% of the sum assured being payable at the end of each of the last 5 years prior to maturity. We will take care of the financial aspect of your child’s life when you are no longer around to do so.
What if my child receives a scholarship?
That’s great! Although designed with funding tuition fees in mind, the Education Plan is merely an investment medium — as the beneficiary your child is free to use or invest they see fit. They can use it to start their own business, buy a house, or just receive a financial leg to stand on.
If this sounds like something you would like to do for your child pay us a visit at our branches (Maison Esplanade – Victoria, Pension Complex –Baie St. Anne Praslin, Green Corner –Providence) or call us on 429 5000 or send an email to firstname.lastname@example.org.