Education Trust Cover
Ensure your children have the financial means to meet their future educational needs.
In the event of an Employee’s untimely death, FedGroup’s Education Trust Cover will pay a lump-sum amount into Trust, to safeguard the educational future of Employees’ children.
Unlike an Indemnity Benefit that does not have a defined benefit amount, FedGroup’s Education Trust Cover defines the benefit amount as a percentage of a parent’s annual salary.
What sets FedGroup’s Education Trust Cover apart?
A younger child equals a larger lump sum
FedGroup’s Education Trust Cover takes cognisance of age when allocating a lump sum. Younger children, who have more years of schooling ahead of them, are granted a larger lump sum than older children who have less years of schooling ahead of them.
One child, many children
Our Education Trust Cover ensures provision for up to five children. Each child receives a separate lump sum, intended to cover their individual educational needs.
More than just school fees
FedGroup’s Education Trust Cover extends past tuition and takes into account the additional educational needs a child may have. These needs could be as varied as transport and aftercare costs, or the cost of extra lessons.
Trustees safeguard children’s specific needs
Trustees work together with the surviving parent or guardian to allocate funds and ensure that educational wellbeing and progress are monitored.
Contact us to enquire about education trust cover for your employees’ peace of mind. We also offer group risk cover (group life, funeral, Disability Cover, and critical illness insurance), as well as retirement savings for your employees.