Give wings to their dreams with Shilpashakthi, a unique policy that creates two funds in one for your child.
What parent doesn’t want to provide their child with a top notch, world class education? This is where our Shilpashakthi education plan steps in, to help you finance their wildest ambitions through a stable education. Our children’s dreams are our own, after all.
Key Features of Product
How does it work?
Shilpashakthi builds two funds for your child :
- The first fund will make quarterly lump sum payments during the last 5 years of the child’s education-you can plan this so they receive this during their Ordinary and Advanced level studies.
- The second fund will make further lump sum payments at the end of the plan, to further your child’s tertiary education.
Who would benefit from Shilpashakthi?
- Middle / Upper income earners with children below 12 years of age
- Parents of children in international schools
Enjoy the benefits
- Two funds are created for your child-one for secondary education and the other for their university years.
- Financial stability for your child’s educational progress in the event of a parental death or disability.
- The cover enables you to insure your child for hospitalization, should you so choose.
Sign-up today to enjoy
- Hassle free sign-up process
- Cooling off period should you change your mind
Download the sign up form here
- Protection Period :
- Minimum age of child : 1 year
- Parent’s age : minimum 21 years and maximum 57 years at commencement
- Parent’s age at maturity of policy (maximum) : 65 years
Learn more about Shilpashakthi
Shilpashakthi will take care of your child even if you are no more :
- In the event of the parent’s death, Shilpashakthi will pay the Insured Amount plus Guaranteed Bonuses to your child immediately to ensure continuation of his or her lifestyle uninterrupted. No further premium payable.
- If the company has commenced quarterly payments, these will be doubled and paid as scheduled for the balance of the 5 year period.
- If the death of the parent was due to an accident, Shilpashakthi will pay double the Insured Amount plus the Guaranteed Bonus, and continue to make quarterly payments as for a normal death.
- If the parent is permanently disabled due to an accident :
The Insured Amount will be paid and in addition Shilpashakthi will pay the promised quarterly payments in terms of the policy, as and when they fall due, with no further premium payable thereafter.
- If the Parent is permanently and partially disabled due to an accident such as loss of a limb or eye :
A specified percentage of the Insured Amount depending on the nature of the disablement will be paid immediately.
- You can insure your child for hospitalisation as well :
For a nominal additional premium, protect your child in the event of illness within the duration of the policy with our Annual Hospitalization Cash Plan.