A sum of N250,000 is paid to the student in the event of a loss of his/her parent, guardian or sponsor.
Discount on premiums after the first year.
A sum of N250,000 is paid to the parent, guardian or sponsor, in the event of loss of life of the student.
FREQUENTLY ASKED QUESTIONS
This is an insurance plan that offers financial support to a student in higher institutions such as (Federal or State University, Polytechnic, College of Education, or Technical schools) in the event the student losses a loved one like a parent, guardian or sponsor. The unique benefit of the plan is that it enables the student continue his/her education so their dreams can become a reality. The plan costs N1, 000 monthly and has a sum benefit of N250, 000 to be paid to the student when a loss happens. The duration of the plan is one (1) year only and it is renewable at the end of the policy term or after a claim has been made.
You can make payments online after registering for the plan and you can also sign into your profile to make monthly payments. Payments can also be made quarterly, semi-annually or annually.
There is a grace period of thirty (30) days for the student to pay an outstanding premium payment and if a loss occurs, the student will get paid the sum benefit, but all the outstanding premium payments will be deducted from the given amount. But when premium is not paid after the period of grace of (30 days), the policy becomes in-active and the policy will be terminated two (2) months.
During the (30 days) Grace Period: You can pay your premium and continue your policy. During the (2) month’s period: Once the policy becomes inactive, it will need to be reinstated. A policy can be reinstated by paying outstanding premiums plus 10% of the total outstanding sum as reinstatement fee and if not the policy will be terminated. After termination: The plan can be reactivated by starting afresh with your existing policy number.
Yes there are, the minimum entry age for the student is eighteen (18) years old while the maximum entry age is twenty-eight (28) years old. The maximum entry age for a parent, sponsor or guardian is sixty (60), years old, which means the parent, sponsor or guardian cannot be older than 60 years of age as the time of taking up this plan. Upon claim or policy validation, if it is found out that the age of the student or parent was not accurate when starting the policy then the policyholder will forfeit any claim.
In the event of no claim during the first policy term and the student intends to continue in the second and subsequent years, a discount is applied upon renewal of the policy for the next year. This discount is called a “No Claim discount”. This means the premium amount while renewing will be discounted by 10%.
Yes. A maximum of four (4) siblings can cover a single parent and upon claim, they will be settled individually.
The Leadway Student Protection Plan has a fixed sum financial benefit of N250,000. If you want higher sum benefit, you can buy other products such as Education Protection Plan (www.leadway.com/insurance/education-protection-plan/) and Education Target Plan (www.leadway.com/insurance/education-target-plan/). These products however have different premium amounts, features and benefit different from the Student Protection Plan. To find out more about these products or any other product or to make a quote, visit our website (www.leadway.com) or call our Direct Sales Team at 01-2800701. What happens if I have questions not addressed here? For further enquires, you can send a mail to Lcs@leadway.com. If you would prefer to speak with a happy agent, Please call our Direct Sales Team at 01-2800701.