Highlights
- Education Plan comes with Takaful coverage and global protection
- Only 50% of premium towards full Takaful term needs to be paid
- Profits, bonuses and rewards galore for Education Plan holders
- Education Plan promotes a culture of savings in the UAE, says National Bonds CEO
It is every child’s dream to be someone famous when they grow up. Of being on top of their game in their profession of choice, be it a doctor, engineer, an actor or an astronaut. And it is every parent’s dream to fulfil these ambitions by providing their child an education that paves the road to success.
Saving towards a child’s education plays a major role in the long-term savings plans of UAE residents. The National Bonds Savings Index 2018 report reveals that up to 72 per cent of UAE residents save for the long term, 52 per cent of which factor in savings for their children’s education. However, despite the culture of savings, insecurities such as job loss, a mortal illness affecting the family’s earning member, or an untimely death could derail these long-term goals. In these instances, a structured savings plan helps, ensuring your child’s education remains on track.
Education Plan from National Bonds
National Bonds has launched a series of affordable saving plans this year to help residents foster a culture of savings in the UAE. As part of the initiative the brand recently launched Education Plan, a saving plans that provides parents the opportunity to save and ensure their children’s future education.
How it works
It’s simple, really. Education Plan structures tiny, scheduled monthly installments, so for instance, if you have a 10-year plan and wish to save Dh200,000, you save just Dh1,787 every month towards the plan and walk away with Dh239,000 at the end of the 10-year tenure (amount includes expected profit and bonuses).
Takaful coverage
The Education Plan also comes with Takaful coverage, a co-operative scheme of reimbursement or repayment in case of death of the guardian, organised as a sharia compliant cover.
“The Education Plan by National Bonds promotes a culture of savings in the UAE while providing an opportunity to save, bit by bit, over the years, assuring your child’s education. It is your chance as a parent to fulfil your child’s every dream in becoming the enterprising and globally acclaimed professional he or she was meant to be.”
NBC's takaful coverage ensures educational continuity for your child in case of either of two scenarios affecting the parent/guardian of the child including death due to any cause as per Takaful terms and conditions, or permanent total disability (PTD). Should the policy holder suffer from either of the above, the declared annual school fees or the university/college costs will be paid for the remaining term.
Pay only 50% of premium
What’s best about the Education Plan is the premium payment is only required for up to 50 per cent of the Takaful term after which it is absolutely free. For instance, if you have availed of a 10-year plan, you only have to pay for the first five years. The global life and PTD cover until the end of the plan, while premium payment is required for only up to 50 per cent of the Takaful term, but offers full cover until plan completion. The issued plan will have no changes in the Takaful terms and conditions until the end of the plan.
More benefits
NBC’s Education Plan, which is globally protected, also offers annual profits and an additional expected 1 per cent incremental bonus up to 10 per cent, calculated on the holder’s cumulative average contribution. The distribution of bonus and profits is done by issuing regular savings bonds, allowing you to enjoy the perks of savings bonds as well. The Education Plan is also flexible with easy entry and exit points, as well as offering a subscription fee waiver after the payment for the first 12 months is complete.
Rewards programme
The returns don’t end with profits and bonuses alone. Those availing of NBC’s Education Plan also become automatically eligible for a rewards programme, with fantastic prizes in the offing for expats, as well as additional chances to win at the AED 37 Million in NBC rewards program.
Sign up now!
Activating the National Bonds Education Plan can be done through three easy steps.
- Decide your payment amount and total planned tenure
- Visit www.nationalbonds.ae and download and complete the Education Plans forms along with the Direct Debit forms
- Submit the forms by calling 600 522279 or request your Relationship Manager to arrange for collection
With the National Bonds Education Plan, make those little dreams a reality for your child.
For more information on Education Plans visit www.nationalbonds.ae
