School Fees Insurance Package
Education ensures a good future for your child. That is why, at an affordable fee, NIC is offering you a unique school fees insurance package that serves as a financial guarantee for your child’s education up to university in the unfortunate event of the death or disability of the insured parent.
The package includes personal accident cover for your child and insurance of personal effects. The NIC school fees insurance package assures a promising future for your child.
For details contact your child’s school or any NIC offices nationwide.
SECTION ONE
1.0 COMPRENHENSIVE INSURANCE PACKAGE (CIP)
The package includes three insurance products.
School Fees Insurance Scheme (SFIS)
Material damage to school property
Accident cover for pupils/students
1.1 NIC SCHOOL FEES INSURANCE SCHEME (SFIS)
1.1.1 What it covers
With an affordable amount payable by the insured parents every term, NIC will undertake to pay the child’s school fees and other expenses in the unfortunate event of death or permanent disability of the parent/guardian.
1.1.2 Features and how it works.
1. The premium is paid along with each terms school fees for convenience.
2 .The policy is operated jointly by NIC and Trustees (the school authorities and the Parent Teacher Associations of the school). This arrangement will guarantee the safety of payable benefits.
3. The policy automatically covers future increase in school fees in the current school.
4.The policy is available for parents/guardians up to 65 years of age.
5 .The Policy allows for both parents to join the scheme (Joint Life). The benefits become payable on the death or permanent disability of one or both parent
1.1.3 Important Notice / Information.
School fees per term has been assumed at 100,000/= for primary and 300,000/= for secondary schools respectively. If the school fees exceed the amounts above you will be required to pay a percentage of the school fees.
Extended Cover. A parent whose child is in Primary school can in addition to the basic cover purchase a cover up to University level. Please refer to Section Two for the premium payable.
Upon payment of the premium, the child will be covered as follows:-
Nursery Shs. 100,000=
Primary Shs. 100,000=
Secondary Shs. 300,000=
University Shs. 1,000,000=
1.2 MATERIAL DAMAGE TO SCHOOL PROPERTY.
The Policy ensures comprehensive coverage of the school and students property.
1.2.1 Scope of Cover
This insurance will cover risk of loss to the school and students property following: -
-Fire
-Riot
-Strike
-Civil Commotion by students
-Other special Perils e.g. Earthquake, storm, floods, malicious damage, Aircraft and impact damage.
1.2.2 Items under the Cover
-Buildings,
-Furniture Fixtures and Fittings,
-Office Equipment
-Student Property Up to 150,000/= limit per student, per incident for FIRE ONLY.
1.2.3 Extensions to the above Cover
a) Public Liability Cover
The policy will extend to offer protection against liability to third parties as a result of injury/death to persons or damage to property. (Limit Shs.100, 000,000/=) per year.
b) Burglary of school property.
Protection against theft following violent entry and/or exit from School Premises (Limit Shs.2, 000,000/=) per incident.
c) Basis of Insured Amounts
For the purpose of the policy, the values of the school property have been assumed as follows:
Primary school shs1,500,000,000
Secondary school shs2,500,000,000.
If a valuation report is available, it will form the basis of the underlying values. If value exceeds Shs.1.500,000,000 for primary and Shs.2,500,000,000 for secondary, extra premium may be charged.
1.3 ACCIDENT COVER FOR PUPILS/STUDENTS
Scope of cover
This insurance will cover the following arising from accident when the school is in session:-
-Medical expenses incurred on bodily injury;
-Permanent disability and
-last expenses
SECTION TWO
2.0 PREMIUMS PAYABLE
2.1 COMPREHENSIVE INSURANCE PREMIUM
| School type | Primary School Shs. | Secondary School Shs |
|---|---|---|
| Minimum Premium Per term - Single parent | 4,000/= per term | 7,500/= per term |
| Minimum Premium Per term - Both parents(joint life) | 5,000/= | 10,500/= |
2.21 PREMIUM PAYABLE PER COVER OPTION
| Option | Primary school Shs | Secondary school Shs |
|---|---|---|
| School fees only Single parent Both parents(joint life) | 1000/= per term 2000/= | 3000/= per term 6000/= |
| Material damage | 2000/= | 3500/= |
| Accident (pupil/students) | 1000/= | 1000/= |
2.22 PREMIUM PAYABLE FOR EXTENDED COVER (SFIS)
| SCHOOL LEVEL | SINGLE ASSURED Shs | JOINT ASSURED Shs |
|---|---|---|
| Nursery to University Primary to University Secondary to University Nursery to Secondary Primary to Secondary Nursery to Primary | 26,850/= per term 10,600/= per term 9,700/= per term 13,500/= per term 4,900/= per term 4,500/= per term | 53,700/= per term 21,200/= per term 19,400/= per term 27,000/= per term 9,800/= per term 9,000/= per term |
2.3 CERTIFICATE OF INSURANCE
Upon payment of the premium, National Insurance Corporation Limited will issue a Certificate of Insurance to the School.
SECTION THREE
3.1 BENEFITS PAYABLE
Upon the payment of the desired premium per student per term, the school will automatically be covered as follows:
| School Type | Primary school Shs | Secondary school Shs |
| 1-School fees 2-Accident a. Medical Expenses b. Permanent Disability c. Last Expenses | 100,000/= per term Maximum 100,000/= per student Maximum 100,000/= “ Maximum 200,000/= “ | 300,000/= per term Maximum 100,000/= per student Maximum 100,000/= “ Maximum 200,000/= “ |
| Fire | Maximum 1,500,000,000/= per incident | Maximum 2,500,000,000/= per incident |
| Public Liability | Maximum 100,000,000/= per year | Maximum 100,000,000/= per year |
| Burglary(school property only) | Maximum 2,000,000/= per incident | Maximum 2,000,000/= per incident |
| Student property(fire only) | Maximum 150,000/= per student | Maximum 150,000/= per student |
3.2 IMPORTANT NOTICE
2(a) above is limited to referral cases where:
(i) The treatment can not be given by the school Sick Bay);
(ii) Treatment cost exceed Shs10,000;
2(a, b and c) is as the result of accidents only.
SECTION FOUR
WHAT YOU NEED TO DO.
Complete the master proposal form provided.
Advise on the amount of school fees payable in your school, where it exceeds 300,000shs for secondary school, and 100,000shs for primary school.
Advise the parent/ guardian to complete the Data Form.
Forward the above documents and the insurance premium through National Insurance Corporation Limited accredited representative or the nearest NIC office.
SECTION FIVE
5.0 WHAT TO DO IN THE EVENT OF A LOSS OR ACCIDENT
5.1 IMMEDIATELY NOTIFY the Police and/or appropriate authority (such as Local Council) in the area where property loss or damage occurred.
5.2 IF YOU have a camera, take photographs of the scene of the accident before anything is moved.
5.3 DO all that is reasonable to prevent further loss.
5.4 IMMEDIATELY REPORT to nearest NIC office, branch or liaison officer, giving as much details about the accident as possible. Make sure you have a Copy of the certificate of membership and premium payment receipt.
5.5 ALL CORRESPONDENCE, i.e., letters, e-mails, notice of intent to take legal action, Writs of Summons with respect to loss or damage have to be notified and forwarded to the nearest NIC Claims Department or any NIC Branch office.
SECTION SIX
6.0 DOCUMENTS REQUIRED IN CASE OF A CLAIM
6.1 MATERIAL DAMAGE TO PROPERTY
-Duly completed Claim form
-Police Report where necessary
-Repair / replacement costs
-Loss assessors/surveyors’ report where necessary.
6.2 ACCIDENT TO STUDENTS
-Duly completed Claim form.
-Medical notes/prescription from a medical doctor
-Medical bills
-Medical Report assessing degree of incapacity/disability from a medical doctor
-Death certificate where necessary.
6.3 SCHOOL FEES CLAIMS
-Death Claim forms completed by the School Authorities/ Trustees running the Scheme.
-Proof of Death e.g. Death Certificate of the parent/guardian from a medical doctor or a letter from local authorities.
-Proof of Disability i.e. Medical note from a recognised Medical Doctor.
SECTION SEVEN
Frequently Asked Questions
Q. Does the package cover school fees only?
A. No, the package covers school fees as a result of Death, Permanent Disability and Critical Illness of a Parent/Guardian as well as damage to school property and accident to pupils/students.
Q. What if a school already has insurance of one of the sections in the package?
A. The school will select other options and pay the applicable premium of the selected options.
Q. Does NIC guarantee to pay fees up to completion of a child’s education?
A. NIC covers up to an applicable level of education i.e. Primary or Secondary.
Q. What if the Parent/Guardian doesn’t die during school period?
A. NIC refunds 20% of total premium paid at the end of the current school level i.e. primary/secondary.
Q. What of the students who don’t have Parents?
A. The scheme covers not only biological Parents but Guardians as well.
Q. What if the student dies?
A. NIC will refund the premium paid to date. If death is due to accident and the accident cover is in force, NIC contributes Ushs.200,000= towards Last expenses.
Q. What happens if a student repeats a class?
A. Repetition is covered for only two (2) years throughout the current level of education.
Q. Does the scheme cater for both Parents/Guardians?
A. Yes, both Parents/Guardians can be covered (under the Joint scheme option)
Q. What if the student is expelled from school?
A. No refund is made, as NIC doesn’t encourage misconduct of children.
Q. What if the child changes school?
A. The claimant under the scheme can freely transfer to another school subject to the limit of the school fees payable in the current school.
Q. Does the policy cover tuition fees only?
A. The scheme covers tuition fees and other expenses e.g. feeding, accommodation, library fees etc, subject to the stated limit.
Q. With UPE and USE in operation, do we need School fees insurance?
A. Government only caters for tuition fees which is a very small percentage of total fees. The scheme covers tuition fees and other expenses as stated above.
Q. What happens if school fees of the beneficiary increases?
A. The scheme automatically covers future increase in school fees in the current school.
Q. What guarantee does NIC give for the safety of the scheme?
A. The scheme will be operated jointly by NIC and the PTAs or other like body of the school to enhance safety of benefits payable.
Q. Does the parent pay premium during the last term of the final year?
A. No, finalists are exempted from premium payment for the last term, as the parent has paid school fees for that term.
Q. Is the Ministry of Education aware of this package?
A. Yes, the Ministry of Education approved the package and a circular was sent to all DEOs and CAOs.
Q. Does the scheme cover parents/guardians with HIV/AIDS?
A. Yes, the scheme covers death as a result of HIV/AIDS and AIDS related illnesses.
Q. How does society benefit from NIC as a company?
A. NIC has asset up an Indigent Students Fund as part of its Corporate Social Responsibility to assist the very poor but bright students continue with their education.