Stanbic IBTC Insurance, a subsidiary of Stanbic IBTC Holdings, has launched the Education Endowment plan to deepen financial protection net to secure children's future with their comprehensive insurance package on Education.
The Endowment Plan is expected to onboard financial security and empower parents and guardians to secure the academic future of their children or wards with future savings and flexible payment that guarantees the future.
The education endowment plan targets young adults even as it encourages parents and guardians to adopt a long-term strategy for investing in the educational future of their children.
Through the launch, the Stanbic IBTC Group said it aims to raise awareness about the importance of investing in education and by opting for the Stanbic IBTC Education Endowment Plan, parents can benefit from a comprehensive investment solution that safeguards their children's academic journey.
Speaking at a media interactive session in Lagos, chief executive of Stanbic IBTC Insurance, Akinjide Orimolade explained that, the Education Endowment Plan offers families a strong financial safety net adding that the product ensures the protection of their children's education, regardless of life's uncertainties by providing reassurance and confidence.
Akinjide buttressed the need to make strategic investments now while urging parents to secure access to education for their children, by enabling them to realise their full potential and pursue their aspirations.
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"We are proud to launch the Education Endowment Plan campaign, an insurance product that aligns with our commitment to empowering parents in Nigeria to attain financial security for the education of their children.
"As a leading insurance provider, we recognise the profound impact education has on a nation and its populace, and we are dedicated to supporting parents in their quest to provide quality education for their children by ensuring the future," Akinjide stated.
He further emphasised that, "The loss of a parent or guardian is profoundly devastating and can greatly affect a child's educational journey. With this in mind, we have created a product to reassure parents and guardians. It ensures that their children and wards' education will remain secure and uninterrupted regardless of life's uncertainties."
The Stanbic IBTC Education Endowment Plan offers numerous benefits. It provides financial support for dependents in case of death; guarantees the child's or ward's education; and gives parents and guardians peace of mind.
The plan can also be used as collateral to secure a loan, where urgent needs arise. At the plan's maturity, the targeted amount is payable, plus a bonus enhancing the benefits, making it an effective vehicle for saving.
