Gavin Bramley

 

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Global Education Protector

 The global education protector enables you to meet the actual cost of your child education needs whether locally or globally, in the event of death, disability or severe illness of the principal Life.

How it works

 The benefit is paid, should you die or become very ill, or disabled. The assessment of the illness or disability will be based on the severity level A of the severe illness benefit or category A of the capital Disability Benefit.

The benefit payments are made on an annual basis to the institution where your child is being educated.

Benefit payments cover the following years of education

Pre-school                    -           one year

Primary school             -           seven years

High-school                  -           five years

Tertiary education        -           an undergraduate degree or recognised diploma or

certificate.

 Discovery Life will require proof of enrolment, proof of fees and the previous year's education results, if applicable.

All South African universities are included in this benefit, as well as technikons and recognised institutions providing for a trade based certification (such as plumbing and electrical).

Benefit payments will cover the actual education fees as well as providing an allowance of 40 per cent of the fees, for university residence and required books, subject to maximums set by discovery Life.

 The global health protector provides indemnity cover in the event of your child gaining enrolment to Discovery's global network of overseas universities.

Discovery's global network of universities:

Princeton University USA

Harvard University USA

Yale University USA

University of Pennsylvania USA

Duke University USA

Darmouth College USA

Columbia University USA

California Institute of Technology USA

Massachusetts Institute of Technology USA

Washington University of St Louis USA

Oxford University UK

Cambridge University UK

Cornell University USA

University of Chicago USA

North-western University USA

Rice University USA

Brown University USA

John Hopkins University USA


Benefit payments for the global education protector will reduce your fund in the event of local education. Should a child gain enrolment to an overseas university under Discovery's global network of universities, the fund will not be reduced by the overseas costs, but rather by the South African tariff for the equivalent year of study at a South African education facility.

 

Keypoints

To qualify for benefit payment, the child must be the natural child of yours or must have been adopted from birth. A child born after the policy has commenced may be added to the policy subject to Discovery Life's underwriting requirements.

Should no claim have been made prior to you turning age 65, the global education protector and premiums for the global education protector will cease.

Benefit payments will cease on the earlier date of your child attaining age 24 next at the start of the education year or completing the undergraduate degree or diploma or trade certification or similar qualification.

Premiums are not guaranteed and will increase annually in line with increases in education costs and the Rand depreciation.