Getting your child started on a stable financial path is the ideal way to kick start their future financial stability into adulthood.
The minute your child turns one is the perfect time to get them life insurance and what better milestone recognition than the Sacos Junior Plan?
A life insurance that is specifically for children between the ages of 1 – 11 (as the child should be no older than 21 years of age when the policy matures) the Sacos Junior Plan is ideal for parents who want to ensure their children are well taken care of under any circumstances.
How much premium you will pay will depend on several factors:
- The age of the child
- The sum insured
- Your desired payment plan
- Age of maturity
Pro Insurance Tip: The younger the child, the cheaper insurance usually is.
The Sacos Junior Plan is ideal as a savings plan because it covers both parents/legal guardians and the child insured in the unfortunate event of either party’s demise.
Should the parent or legal guardian, as the life policy proposer, pass away, Sacos covers the cost of the policy on behalf of the parent. On the age of maturity of the policy, the child receives the full sum assured.
If the child passes away during the policy term, Sacos will give the full sum assured to the parent or legal guardian if the child was six years or older. If the child was below the age of six at the time of passing, Sacos pays out a percentage of the sum assured in accordance to a published table of benefits.
Wealth Creation Hack: With the Sacos Junior Plan, payment is made directly to your child when the policy matures. Having a savings cushion to rely on can be one of the underlying factors for their future success. It can be used as capital for a business start up, deposit for a house or payment towards their first car. They can also invest the amount further and accrue additional interests on that sum assured.
Importantly for a parent, nothing will give you as much peace of mind as knowing that you are giving your children a financial head start in life.
Interested in getting a quote? Calculate your preferred sum assured and monthly premium with the Junior Plan Rate Calculator. Alternatively, you can contact us by either calling us on 4 295 000 or e-mailing us on life@sacos.sc.
