Leadway Assurance Company Limited has gone into partnership with the Association of Parents of Private School Students (APPSS) to launch an education insurance policy plan tagged the 'Group Education Protection Plan (GEPP)'.
The bespoke education plan, which was launched at the Children's Day event hosted in Port Harcourt, was designed to help parents protect their children's future from possible socio-economic disruption in schooling due to unplanned or unforeseen events, such as the death of a parent or guardian, life- threatening critical illness, total and permanent disability resulting from personal accidents.
With the partnership, the parents were guaranteed the fulfilment of bequeathing to their children quality and life-defining education, no matter what life throws at them.
In the contract, the unique alliance mandated Leadway Assurance to assume the payment of the children's fees for the agreed remaining school terms from the point the sponsoring parent or guardian dies or contracts a critical illness or disability.
Speaking on the initiative, Head of Life Retail, Leadway Assurance, Bolorunduro Saliu said: "This policy reflects the organisation's proactive steps towards mitigating the risk parents face in failing to achieve their dream of bequeathing quality education to their children due to circumstances that are beyond their control, especially death or permanent disability.
"We are pleased to work with a forward-looking association that is keen to proactively take smart financial decisions for their children's assured future.
"Our partnership with APPSS, provides every parent under the association the assurance that should the most unnerving life situation occurs, there is guaranteed peace of mind regarding the completion of their child's education", he added.
According to him, the intention of the policy was to have a solution that protects the parents which in turn protects the education of their children in case of any eventuality.
He said the product was designed to provide an actionable and affordable solution to ensuring that children, being the future of the society, have proactive measures put in place to ensure that their journey to greatness is not halted abruptly.
Also, commenting on the partnership, the National President, APPSS, Dr. Ovy Chukwuma, said, Leadway Assurance created the programme at a very affordable premium and high sum assured to cater for the payment of fees for children in private schools nationwide from Nursery to Secondary Levels.