How Sacos Education Plan can pay your child’s private school tuition fees

Like many parents, you may currently be contemplating whether to put your child in private or public school. Both are very great options by the way. However, if you are more inclined to choose private school,  the Sacos Education Plan can help to contribute towards the annual tuition fees.

How is that possible, you ask?

Sacos Education Plan has some very unique features, compared to other life insurance plans. These features were especially designed to support parents in providing the best education for their children.

  • Survival benefits paid out at intervals

The Sacos Education Plan, which is available for terms of 10, 15 or 20 years,  pays out survival benefits (of the sum assured) at intervals. 10% of the sum assured is paid out every year for five years from the last six years of the term taken and 50% of the sum assured is paid out in the last year. This provides parents with an easily available annual cashflow for tuition fees payment.

  • Survival benefits matches academic years for Secondary schools

Secondary education in Seychelles usually runs for five years. The interval payment of the Sacos Education Plan (10% every year for five years) coincides with the academic years for secondary education. Parents can thus use this insurance plan to fully meet the tuition cost for secondary school.

  • Match the survival benefit with the annual tuition fees

If the tuition fees are SCR10,000 per term, parents are expected to pay SCR30,000 each year to the school. Parents should ensure that the 10% survival benefits is sufficient to cover the cost of the annual tuition fees. In the above example, the 10% annual survival benefits should be at least SCR30,000 or more in order to cover the full cost of the tuition fees. In the above example, the sum assured needs to be at least SCR300,000 to fully cover the cost of the annual tuition fees every year.

  • Schedule your survival benefits in line with tuition fees due date

In order for you to meet the due date for the payment of the tuition fees, you have to ensure that the survival benefits are paid in a timely manner. To give yourself some room to breathe and avoid unexpected delays, ensure that the survival benefit is paid out at least two months before the due date for the tuition fees. If the annual fees have to be paid in January, then it is safer to ensure that your first payment is received by November of the previous year.

  • Use the remaining 50% for other academic fees

Remember, that you have received 10% of the sum assured each year for five years which have gone towards the private tuition fees for the secondary school. In the example given above, you have received and paid SCR150,000 for tuition fees. You are now left with 50% of the sum assured (SCR300,000) which is paid out in the last year (the sixth year). With the 50% remaining (which is SCR150,000), you can contribute towards other academic fees that come up, e.g. tuition fees for A’Levels (normally 2 years) or sending your child to college overseas, payment for exam resits or contribution towards university costs(for example application fees, airfares, accommodation etc.).

The Sacos Education Plan was especially designed to help parents meet the cost of education for their children. This ensures that your child is able to make the most out of the opportunities available in life. This plan is also ideal for primary education fees as well as university tuition fees.

The figures above are only indicative, for a substantial quotation, you can complete our request for quote on our website ( providing us your details, send an email to, call us on 4295000 or visit any one of our branches.

Children’s Day: Save for their future via insurance!

Celebrate your child by purchasing an insurance plan for their future; with free education on offer, not a lot of parents think ahead to their children’s tertiary education. The last thing you want as a parent is to deny your child the opportunity of a quality education because you are unable to afford it.

But before you rush over to the bank to open up a savings account, here’s why you should consider an insurance plan instead:

Minimal risks

Most people use cash Instant Saving Accounts for their long-term savings, increasing their balance by making monthly or yearly deposits. But the risk of doing that is they could be losing out substantially as a result! Despite inflation being low, the cost of goods and services is still rising faster than the very low returns being paid on cash accounts, causing buying power to decrease.

Meanwhile, Insurance products meant for savings purpose is capital-guaranteed upon maturity and returns from insurance savings plans are higher than what a typical bank savings account can yield, due to the longer time horizon of the plan.

Continuous savings even under unforeseen circumstances

One of your main concern as a parent is: “will my child still be able to go to university if something bad happens to me?”

The ‘anything bad’ refers to untimely demise, redundancy, disability and being struck with a serious and critical illness. When using bank savings or regular investments to save for your child’s educationthe fund stops growing as intended if you are unable to  inject new funds

BUT using insurance to save will ensure the child’s education fund is not compromised as there is insurance protection!

At what age does my child have to be? 

You can purchase an insurance plan for your child as soon as they turn one year old! The younger the child is, the lower the premium, so ideally, the best time to start is as early on as you can!

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 and we can help you determine a plan that is better suited to your needs.