Education Plan

Here's the easiest way to give your children the education they need to fulfill their potential.

Education Plan pays out a tax-free lump sum after a minimum of 10 years. You can start saving from as little as R150 per month. Your premium increases each year to help maintain the value of your savings. You can also choose to invest more and for longer in order to boost your final savings amount!

Education Plan Benefits

• You can take a six-month premium holiday during the life of your Plan.
• Your payout will be tax-free and paid into your bank account.
• You may make a partial withdrawal within the first five years and then every five years thereafter.
• If you cancel your policy at any time before the end of the term, you'll be paid a surrender value.
• Your money is invested in the Smoothed Bonus portfolio which aims to deliver inflation-beating returns.
• Your monthly premiums will be increased automatically each year although you may opt out of this if you cannot afford the increased premium.
• Premium Waiver Benefit - this costs a little extra but ensures that if you die as a result of an accident (at any time within the first 10 years of your policy) Old Mutual will provide for your premiums for the rest for the 10-year period. This also applies if you die from non-accidental causes after the first six months.
• No medical examination is required. You only need to answer a few health questions if you want the premium waiver benefit.