Don't leave anything to chance. Protect the ones you love with Life Insurance

The professional education in an esteemed institute of repute is the dream of every student & parent. Each Parent plans the finance of their child's education right from their childhood.

A group student insurance solution is an effective way to mitigate the following risks for students as well as their parents.

• The risk of the student discontinuing their academic studies in case of unfortunate death of the earning parent

• The risk on student's life due to unfortunate death of any cause.

Considering the above scenarios, a group term insurance plan offering life insurance cover on the life of the parents as well as students will be the way forward.

Insurance on Parents’ Life:  The earning parents’ life can be insured to the tune of course fee of the student. Due to an unfortunate death of the earning parent the student runs the risk of discontinuing his/her course midway. Hence, an insurance cover on the lives of the earning parent’s will ensure that student continues the course (as the future course fees can be paid from the insurance claim amount). This enables the Student to have a secure future.

Insurance on Students’ Life: Though the loss of life of a student can’t be indemnified in any way as far as the parents are concerned, the life insurance cover on the life of the student may give some relief to the parents.

Flexible Administration: The Institute can administer this scheme as Master Policy Holder representing itself on behalf of the Students & their parents. The premium can be collected by the institute from the students.

The following Example illustrates a scenario

Assumption : Parent aged 47, student studying in 2nd year, another 5 lakhs needed to complete the course (includes tuition fees, exam fees, transportation, hostel fees etc) 5 lakhs group life term cover for this parent at very cheap premium of Rs.1,665 per year. In case of an unfortunate death of the parent (due to any cause) insurance company pays Rs.5 lakhs to the student's guardian. This will ease the financial burden and ensure that the student can complete his/her education.

Benefits for the Institution

Institution secures student studies. Students could continue the course by paying all the fees. Students from 1st year to final year can be covered for their outstanding course fee.

Institution creates goodwill among students and society