Lasaco Assurance launches children education plan

Lasaco Assurance Plc has launched a children’s education plan, designed to ensure the continuation of their education in case of financial setbacks or the loss of a parent/guardian.

In a statement made available to our correspondent, it was disclosed that the plan ensured continuity in education and provided peace of mind to sponsors through a range of flexible and beneficial features.

The Managing Director of Lasaco Assurance Plc, Razzaq Abiodun, highlighted the plan’s significance, stating, “In addition to other benefits, the Lasaco Children’s Education Plan ensures an educational legacy for children and wards. It pays a lump sum to beneficiaries in the event of the death of the sponsor.”

According to the firm, the plan offers a minimum tenure of five years, with the flexibility for longer terms, and guarantees 75 per cent of total contributions and the sum assured if death occurs before maturity, provided premiums are up-to-date.

It added that after two years of premium payments, sponsors could withdraw up to 40 per cent of the account balance.

It noted that the policy also offered life cover and could be surrendered after 24 months with paid premiums, subject to a penalty if terminated early.

Abiodun emphasised Lasaco Assurance’s commitment to leveraging technology to enhance the customer experience.

“We use leading and innovative technological devices, techniques, and high-level IT development in deploying our daily activities, ensuring we deliver the best insurance services to our customers,” he said.