The Graduate

It is the dream of every parent to provide their children with the very best education possible. Your child’s college education will be one of the largest expenditures you will ever make. With the rising cost of education, you may have to prepare yourself for your future financial commitments.

Graduate plan is specially designed to help you plan for your child’s college education. It is a long term investment and protection plan where you can earn maximum returns on your savings by investing them in your choice of investment mix. Available for all the customers of Summit Bank Limited.

Salient Features

  • A savings plan where upon completion of policy term, you will be paid the accumulated account value towards your child’s education.
  • A protection plan where, God forbid, if you die before the completion of the elected term, your children will have the financial security that you had planned for them
  • In case of your permanent total disability, IGI Life will pay all due basic premiums, from date of disability to the end of the policy term
  • Flexible premium payment option for the customers subject to the minimum acceptable premium limit prescribed
  • Option to deposit additional funds to your regular plan at any policy anniversary, called the Account Value Acceleration Premium (AVAP)
  • The plan offers generous loyalty bonuses starting from fifth policy anniversary and payable every five years thereafter
  • Premiums are invested according to four distinct strategies as chosen by the customer: Conservative, Balanced, Aggressive, and Shariah Compliant
  • Additional benefits/ supplementary riders are available to enhance coverage
  • Multiple modes of premium payment available: annual, semi-annual, quarterly and monthly
  • On completion of policy term, the accumulated account value will be paid in the form of annual college fees payment for four years term in college
  • The account value can be withdrawn partially after the policy has been enforced for at least five full years
  • Complete surrender option available subject to surrender charge during first two policy years

Click here to download Graduate Plan