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.
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.
- 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.
- 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
1.2 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: –
-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
-Furniture Fixtures and Fittings,
-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.
- b) Burglary of school property.
Protection against theft following violent entry and/or exit from School Premises (Limit Shs.2, 000,000/=) per incident.
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