Zenith Assurance Proposes ‘School Fees Protection Plan’ to Covenant
Zenith Life Assurance Limited has proposed to the Management of Covenant University, a School Fees Protection Plan, otherwise known as the ‘Child Education Plan’, designed to ensure that the education of a child does not come to a halt in the eventuality of the death or permanent incapacitation of the parent or guardian.
Introducing the product to the Management of Covenant on Wednesday, May 17, 2017, a Deputy Manager with Zenith Assurance, Ms. Sylvia Onwekwe, who led the team representing her company, said that the child education plan is a product tailored to fit the University as it is the desire of many parents to provide qualitative and functional education programme for their children.
Ms. Yemi Awobajo, a technical staff of Zenith Assurance, while making a presentation on the proposal titled, ‘Student Education Term Plan’, said that the scheme guarantees the continuous payment of a child’s full school fees in the event of the death or incapacitation of either parent or guardian responsible for the payment of the school fees to cover the duration of the child’s stay in the school.
In the event of the unexpected happening, Zenith Life will take over the payment of the child’s school fees until he or she graduates from the school subject to the policy limit of liability, she added.
The burden of premium payment, she noted, is borne by the parent or guardian; the insurance also covers the particular parent or guardian paying the school fees, while the school is the assured or policy holder.
Stating the benefits of the policy to the school, Ms. Awobajo said that it is a source of additional revenue generation; there is stability of budget; and Zenith Life will organize career talk or counseling for students.
In his remarks, the Vice-Chancellor, Covenant University, Professor AAA. Atayero, thanked Zenith Life Assurance Limited for introducing the Student Education Term Plan to the University.
He said that the plan was a good product, but the University management would have to deliberate on it and see how it conforms to the University’s policy.
Other representatives of Covenant at the meeting were the Deputy Vice-Chancellor, Professor Shalom Chinedu; Acting Registrar, Mrs. Mary Aboyade; Director, Financial Services, Pastor Bayo Oladehinbo; Director Vice-Chancellor’s Office, Dr. David Omole; and Director, Centre for Systems and Information Services, Engr. Yinka Adeboye.