Education Insurance

Packages

Have you ever thought about how much will it cost to send your child to university? How would they finish school should something happen to you? Are you saving enough with rising costs of education?

One of the major responsibilities you face as a parent is securing your child's university education under all circumstances. Our education insurance programs are tailor-made contracts that suit your own choice to provide for your children's education and guarantees the continuity of their schooling and university tuition payments.

Ghadi

Benefits of the Plan

• Saving and protection plan (security & investment)

• Coverage for schooling fees

• Coverage for university fees

• 3.5% minimum guaranteed return on your investment in JD

• Cash Value after the settlement of two annuals premium

• Convenient payment facilities

• Loans facilities from your investment

• Protection against inflation


Covers of the Plan

•Natural or accidental death coverage

•Total permanent disability coverage due to sickness or accidents (Optional)

•Death, total permanent disability, partial permanent disability coverage due to an accident (Optional)

•Death, total permanent disability coverage due to passive war (Optional)

Ghadi Elite

Benefits of the Plan

• Saving and protection plan (security & investment)

• Coverage for schooling fees

• Coverage for university fees

• 3.5% minimum guaranteed return on your investment in JD 

• Cash value after the settlement of one annual premium only

• Convenient payment facilities

• Loans facilities from your investment

• Protection against inflation


Covers of the Plan

•Natural or accidental death coverage

•Total permanent disability coverage due to sickness or accidents (Optional)

•Death, total permanent disability, partial permanent disability coverage due to an accident (Optional)

•Death, total permanent disability coverage due to passive war (Optional)

Lamma Yekbarou

This plan can be purchased only through the Arab Bank branches.

Benefits of the Plan

•    Savings for the adequate university tuitions through moderate monthly premiums automatically debited from the bank account with no additional banking charges

•    Take advantage of the extra return on the investment amount as the dividends declared annually

•    Possibility to protect the investment amount and Saving amount from inflation through an annual variation rate of 1% to 10%

•    Minimum guaranteed rate of return on investment of 3.5% annually on JOD

•    Possibility to choose the premiums payment: monthly, quarterly, half yearly or annually

•    Continuity of the plan and Waiver of the premiums saved on a monthly basis from your family in the unfortunate case of death or disability

•    All profits declared on your investment account are not taxable and the investment amount to be received at maturity or the insurance amount to be paid in the case of death are also tax-free

•    Possibility to add the Passive War Risk Cover

 

 Covers of the Plan

•    The monthly payments will be waived from your family and the plan will continue and the agreed-upon university tuitions will be paid in case of death that is caused by unpredicted accident or sickness.

•    Continuity of the plan and payment of agreed-upon university tuitions in the event of total permanent disability due to sickness or unpredicted accident. (Optional)

•    Payment of the pre-defined schooling annuities to finance your children’s school tuition fees in the event of death or total permanent disability due to sickness or unpredicted accident. (Optional)

Hatta Yedersou

This plan can be purchased only through the Arab Bank branches.


Benefits of the Plan

•    Moderate monthly premiums starting from 1 JD or 2 USD, automatically debited from the bank account without extra charge.

•    Possibility to choose the contract period starting from four years.

•    Possibility to choose the passive war risk coverage.


•    Possibility to choose the currency of the plan: JOD or USD
 

Covers of the Plan

Schooling annuities varying from 1,000 to 5,000 JD or USD are paid till the expiry date of the contract in the event of:
•    Natural or accidental death 
•    Natural or accidental permanent total disability (optional)

FAQs

  • Can I make an amendment on the policy?
    Yes, you can do so by filling the amendment request form and sending it by e-mail to customerservice@al-nisr.com at least two months before the policy anniversary so we can study it, and if the amendment was approved, it will take effect on the policy anniversary date provided that the fees are paid.
  • What are the amendments that I can make on the policy?
    You can make many amendments such as amending the annual premium, the sum insured, the frequency of payment, or the policy beneficiaries.
  • How can I receive the university tuitions when the policy expires?
    You can receive the university tuitions annually on their due dates up to the number of tuitions and their amounts specified in the contract.
  • What happens if my child does not continue his university education?
    We will pay the university tuitions specified in the contract whether the child enrolls in the university or not.
  • How can I pay the premium of my education plan – Lamma Yekbarou?
    Premiums due under this policy are payable by direct debit from the bank account only.
  • How can I benefit from the available amount in the investment portfolio?
    You can request a loan from the available amount in the investment portfolio in case you need it by sending us the loan request by e-mail to customerservice@al-nisr.com.
  • What happens to the policy if I didn’t settle the premiums?
    The premiums will be settled automatically from the available amount in the investment portfolio, if any, and in case the amounts in the investment portfolio are not enough to settle the premiums, the policy will be cancelled automatically by the company after the grace period, and you will be notified of this cancellation in writing by sending an official letter to your mail address.
  • Are the sum insured/ the investment amounts subject to income tax?
    According to the current laws, neither the sum insured nor the investment amounts are subject to income tax.
  • Will my contract be valid outside Jordan?
    The contract is valid all over the world taking into consideration any special requirement or exclusion applied on it.
  • Can I request a copy of my contract in case it was lost?
    In the event of loss of the contract, you have to notify us by e-mail to customerservice@al-nisr.com and fill the contract copy request form, and we will provide you with a copy of the original contract within maximum 3 working days provided that the fees are paid.

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