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Education
Savings Insurance
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As a parent, you want to provide your child with the best
opportunities to grow and develop. A quality education is essential for your
child, but with the increasing costs of education, considerable financial
resources and early planning are necessary. By enrolling in Education Savings
Insurance, you can be confident of having the financial resources you need to
provide for your child's better study opportunities.
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Flexible Payment Terms
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Education Savings Insurance provides you with 3 choices of payment term, 5-year or 10-year payment terms, or single payment option. With a short premium payment period, the plan offers you enhanced flexibility in your financial planning.
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Plan
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5-Year or
10-Year Payment |
Single Payment |
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Child's Age
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01-8
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Protection Period
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To age 22
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Currency
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USD / HKD
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Minimum Annual
Premium
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USD1,000 / HKD8,000
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USD7,500 / HKD60,000
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Savings with Triple Rewards
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Reward 1: Tuition Allowance
To celebrate your child's admission to secondary school, a Tuition Allowance equal to 1% of the sum insured will be paid to you on the policy anniversary when he / she is 12 years old for extracurricular studies, study tour, etc.
Reward 2: Guaranteed Education Fund
For many parents, the cost of tertiary education is the major expense in their child's educational development. With our Guaranteed Education Fund, you will receive an amount equal to 100% of the sum insured on the policy anniversary when your child is 18.
Reward 3: Special Dividend2
A Special Dividend is payable to you on the policy anniversary when your child is 18, thereby increasing your financial return.
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Easy Financial Options3
At age 18, when your child begins his / her tertiary education, the plan will provide you with the following 3 easy financial options:
- A lump sum withdrawal of the Total Cash Value4
- A 50% or 25% withdrawal of the Total Cash Value at each policy anniversary, with the remaining balance retained in the plan to accumulate interest. The Death Benefit will not be affected.
- Retention of the Total Cash Value in the plan to accumulate interest.
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Case Study5
Example: based on a 30-year-old mother,1-year-old child and 5-year payment period.
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Target Education Fund of USD30,000
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Annual Premium
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USD4,280
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Total Premium Paid for 5 years
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USD21,400
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Projected Total Cash Value
(Assuming all cash values are
retained in plan for interest)
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At Age 18
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At Age 22
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USD43,959
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USD53,432
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Projected Total Return Rate
(Based on total premium paid)
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205%
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250%
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Comprehensive Protection
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Death Benefit
In the event of death of the insured, a lump sum equal to the sum insured and any accumulated amounts from Tuition Allowance, Guaranteed Education Fund, Special Dividend, or interest2 will be paid to the appointed beneficiary(ies).
Unemployment Benefit6
In the event of involuntary unemployment on or after 183 days following the policy issue date, you can enjoy a premium payment grace period of up to 365 days. This helps alleviate your financial burden during a period of personal financial downturn.
Optional Payor Benefit7
Should you unfortunately pass away before the age of 65 and while the policy is in force, all premium payments due thereafter will be waived and your child can still enjoy the savings rewards and life protection. If you become temporarily disabled and are unable to work for a continuous period of 183 days, all premium payments due will also be waived during the period of disability until you have fully recovered or when your child reaches the age of 22, whichever is earlier. Based on the case study provided above, the additional monthly premium is only USD2.385.
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1 Age 0 represents a minimum of 3 months of age.
2 Special Dividend and accumulated interest are not guaranteed.
3 The policy will be terminated when the Total Cash Value is withdrawn in all circumstances.
4 Total Cash Value equals the sum of: i) Tuition Allowance, ii) Guaranteed Education Fund,
iii) Guaranteed Cash Value, iv) Special Dividend and any accumulated interest.
5 All figures shown in the case study are for reference only and may differ slightly among illustration
documents due to rounding differences and the policy currency selected.
6 The Unemployment Benefit is inapplicable to self-employment, employment provided by immediate family
members, or single premium payment mode. For details, please refer to the terms & conditions of
the policy.
7 Payor Benefit is available to applicants aged between 20 and 55 (at the time of application).
The benefit is inapplicable to single premium payment mode.
8 No medical examination is required for children in good health, provided that the sum insured
does not exceed HKD2,000,000.
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| Our Promise to Protect Your Best Interests |
| Education Savings Insurance is an insurance plan with a savings element. Part of the premium pays for the insurance and related costs. If you are not happy with your policy, you have a right to cancel it within the cooling off period and obtain a refund of any premiums paid. A written notice signed by you should be received by BEA Life Limited at 29/F, BEA Tower, Millennium City 5, 418 Kwun Tong Road, Kowloon, Hong Kong within the cooling off period (that is, 21 days after the delivery of the policy or issue of a notice (informing you/your representative about the availability of the policy and expiry date of the cooling off period), whichever is the earlier). After the expiration of the cooling off period, if you cancel the policy before the end of the term, the projected total cash value may be less than the total premium you have paid. |
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The above information is for reference only. Please refer to the policy for the
exact terms and conditions and the full list of policy exclusions. For more
information or a copy of the policy terms and conditions,
please contact our Marketing Officer.
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The Bank of East Asia, Limited is an insurance agent authorised by BEA Life Limited ("BEA Life") and Blue Cross (Asia-Pacific) Insurance Limited ("Blue Cross"), members of the BEA Group. BEA Life Insurance Series and General Insurance Series are underwritten by BEA Life and Blue Cross respectively.
This is a redirect webpage hosted by Blue Cross (Asia-Pacific) Insurance Limited.
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