Education Savings Plan

What is it?

• Fransajeunesse is an education savings plan in USD coupled with a life insurance policy that ensures your children’s education
• Payment is constant or progressive and can be done on a monthly, quarterly, half-yearly or yearly basis starting USD 25 a month

Target:

• Age of applicant: minimum 18 years, maximum 70 years
• Period of scheme: minimum 4 years, maximum unitl client is 75 years old

Benefits:

• The plan is a mix of return on savings and life insurance that assures the continuity of payments in case of death or permanent disability of the client
• In case of death or total permanent disability, the insurance company Bansassurance SAL ensures continuity of premiums settlement until contract maturity
• The return on savings is determined every year by the company to be applied on the real cash value of the contract

Contract Flexibility:

The insured may:

• Modify the insured capital, the duration of the contract, the frequency of payment, the premium amount or the premium variation
• Make optional additional feedings and benefit from the return on savings
• Cancel the contract before maturity

Possibility of withdrawing money from scheme:

The insured may opt to withdraw at any time, total or part of the amount saved:

- Within the first three years, the program will be closed and the client will get:

• 50% of his savings, during the 1^st year
• 70% of his savings, during the 2^nd year
• 90% of his savings, during the 3^rd year

- As of the 4^th year, the insured may:

• Request a partial surrender by withdrawing an amount equal or less to 90% of the investment value
• Request a total surrender by withdrawing the whole amount saved and the program will be closed

When the contract matures, the insured has to option to receive the amount saved:

• As a lump sum amount 
• As an annual income spread over three to seven years