The Insurance Every Parent Should Think About Before School Resumes

It was a hot Tuesday afternoon in August, and Madam Taiye sat in her living room, watching her three children scatter Lego bricks all over the floor. The kids were on summer holiday, their laughter echoing through the house. But behind her smile, Taiye’s mind was already restless. September was around the corner, and with it came the long list of back-to-school expenses: tuition fees, new uniforms, textbooks, transportation, and the ever-growing extracurricular costs.

As a mother of three, Taiye often carried the silent weight of responsibility. Her husband contributed his part, but she knew that if anything unexpected happened to either of them, their children’s education could be in jeopardy. And for Taiye, that was unthinkable. Education was not just another bill; it was her children’s pathway to a better future.

That evening, while speaking with a friend who worked in finance, Taiye heard about something she had never considered before: The Coronation Education Legacy Plan. Her friend explained it simply: it was not just savings, and not just insurance, but a combination of both, built specifically to safeguard a child’s education. For the first time in a long while, Taiye felt a sense of relief wash over her.

Why Education Insurance Matters for Parents

Every parent dreams of giving their child the best opportunities in life, and education is usually at the heart of that dream. Yet, life can be unpredictable. Accidents occur, illnesses come unannounced, and in worst cases, death can leave a family stranded.

Many parents, like Taiye, save money in bits and pieces in bank accounts, cooperatives, or through informal savings groups. While these are helpful, they lack one thing: protection against life’s uncertainties. If anything happens tomorrow, those savings might not be enough, or worse, they might vanish completely.

That is where an education insurance policy comes in. It doesn’t just help you save toward school fees; it guarantees that those fees will be paid, even if you’re no longer around to do it yourself. It’s a safety net every responsible parent should consider before a new school term begins.

What Is the Coronation Education Legacy Plan?

The Coronation Education Legacy Plan is designed with parents like Madam Taiye in mind. It provides for your child’s school fees and other educational needs at any level from nursery to university. This plan combines two powerful elements:

1. Savings

You contribute periodic premiums (Monthly, quarterly, half-yearly, annual, or single) toward a targeted lump sum, helping you build a dedicated education fund.

2. Insurance Cover

At the same time, you enjoy insurance protection equal to the targeted lump sum (up to ₦30,000,000), ensuring your child’s education is secured even if life takes an unexpected turn.

Why Parents Should Pay Attention

Parents often save in a bank account, some in investments, and perhaps a small emergency fund. But the Coronation Education Legacy Plan goes beyond savings by wrapping insurance around your financial commitment. That means your child’s education won’t be left to chance.

Here are some benefits every parent should consider:

• Financial Security for Your Children: Should death or an event like Accidental Permanent and Total Disability (APTD) occur, your child’s school fees will be taken care of
• Tax Advantages: Risk premiums are tax-exempt, allowing you to claim reductions on your life premium.
• Safe and Reliable Returns: Whether through the savings element or the insurance cover, your money works securely for your children’s future.
• Flexibility: Choose a policy term between 5 – 30 years, with flexible payment options (monthly, quarterly, half-yearly, yearly, or single payment).
• Extra Protection: Critical illness cover can be added at an additional premium.
• Added Benefits:
  • Family Income Benefit: 10% of life cover paid every policy anniversary.
  • Waiver of Premium: If something happens to you, your children’s education remains funded.
  • Academic Award: Up to 10% of your annual contribution (max ₦100,000) for “Best in Class” performance.

Madam Taiye’s New Peace of Mind

For Madam Taiye, enrolling in the Coronation Education Legacy Plan was one of the best decisions she had ever made. She no longer lost sleep wondering, “What if something happens tomorrow?” Instead, she could enjoy the laughter of her children, knowing that come rain or shine, their education was secured.

As the new school year approached, Taiye felt lighter. She wasn’t just preparing for this September, but for every stage of her children’s academic journey.

And for every parent reading this today, the question is simple: Have you secured your child’s education yet?

Because school fees don’t wait. But with the Coronation Education Legacy Plan, neither does your peace of mind.

Take the step today. Contact us via email at info@coronationinsurance.com.ng or call us on 02-012275475, 02-012275476 to get covered.  

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