Your child's education is under coverage under any circumstances
Your child's educational life is a crucial period that will influence his/her whole lifetime. Now, take your child's education under coverage with the "education guarantee" brought to you by Continuing Education Insurance. Aftermath of a negative event you might undergo, your child's education shall thus go on without being ceased at all.
Which situations are covered?
Continuing Education Insurance meets your child's education expenses, if and when decease or disablement happens to take place as a result of illness or accident.
Who are to be benefited?
Mothers, fathers or other persons undertaking the child's educational expenses between the ages 18-70 may have Continuing Education Insurance. Those between ages 20-60 may also be benefited from indemnities of disablement as a result of accident or illness. The sum of the age of the insured and the term of the insurance may not exceed 80 when only decease coverage is chosen and may not exceed 65 when decease and additional disablement coverage are chosen together.
How long is its term?
Depending upon your child's education period, you may be benefited from the coverage of this insurance minimum for 5 and maximum for 20 years.
Functioning
- In cases of decease or disablement of the guardian, the predetermined education coverage is multiplied with the child's remaining education term.
- The obtained amount is paid by AvivaSA in YTL basing upon the Turkish Republic Central Bank's effective sales rate.
- The education coverage is decreased for every passing year by the child's one year of expenses. Thus you do not happen to be obliged to pay premiums for coverage surpassing your needs.
Example
Child's annual education expenses: 3.000 USD
Education period: 15 years
Total coverage amount: 45.000 USD
According to the foregoing example, the coverage to be paid as a result of a negative event his guardian might undergo on the 4th year of his/her education shall be calculated depending upon 12 years (including the 4th year) and a coverage equaling up to 36.000 USD shall be paid in YTL.
Payment Facilities
You may pay your policy premiums monthly, quarterly, semiannually or annually during the education term. The premium to be paid remains constant for the payment term you shall have chosen. The payments are made basing upon the effective sales rate of the Turkish Republic Central Bank.
Tax Advantage
You may subtract the premiums you shall be paying for Continuing Education Insurance from your basis of taxation within certain limits.