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Educational Savings Plan

Is your age between 18 and 70 years?
Do you wish the best for your children?

Ensure a higher education for them with the Educational Savings Plan* from Banque Libano-Française.

Characteristics
  • beneficiary: each Saving Plan can be allocated to one of your children,
  • age of the insured at subscription: between 18 and 64 years,
  • period of contract: minimum 4 years | maximum until the insured reaches the age of 75 (or 65 if the the schooling option is selected),
  • currency: USD,
  • premiums:
    • monthly, quarterly, semi-annual or annual settlements,
    • minimum amount: USD 25 per month,
    • constant or progressive premiums according to the annual indexation rate of your choice between 2 and 10%,
    • ability to settle additional payments at any moment (minimum required USD 100). A fee representing 2% is deductible from the additional payment.
  • availability of funds: possibility of withdrawing the saved amount totally at any time is subject to a penalty of 50%, 30% and 10% respectively during the first 3 years in addition to termination fees. Total withdrawal of the saved amount starting the fourth year is applicable with no penalty but subject to termination fees.
  • competitive annual return on savings,
  • life insurance coverage: In case of natural or accidental death, or total permanent disability (accident or sickness) or passive war risks (optional),the insurance company will carry on the contract on your behalf to guarantee the continuity of your child saving plan whatever happens to you
  • additional insurance coverage for schooling to ensure the payment of fixed chosen amounts in case of cruel events.

Advantages
  • build up a capital at your own pace to finance your children’s school and university studies and benefit from a life insurance coverage,
  • ensure the future of your children,
  • benefit from a guarantee for the remaining payments: in case of death or disability Bancassurance SAL will pursue the education plan on your behalf and will ensure the payments of the remaining preset amounts till the termination of the contract that was initially set,
  • benefit from a flexible plan: at any time, you can modify the guaranteed capital, the amount and the frequency of payments as well as the period of the contract. You can also temporarily stop the pre-planned payments without losing any of your acquired advantages, or you can make additional payments if you have an unexpected income,
  • choose a suitable solution at maturity: at maturity, you can choose to collect the accumulated amount invested either in one payment or in annual payments over 3 to 7 years according to the period of your child's education.

Example
 Age
(years)
Age of the beneficiary
(years)
Annualized schooling amount
(in USD)
Monthly premium
(in USD)
Duration of the contract
(years)
Cumulated paid Premiums
(in USD)
Capital received
at 18 years**
(in USD)
25 1 2,000 50 17 10,200 13,217
30 3 2,000 75 15 13,500 17,026
35 5 2,000 100 13 15,600 18,883
40 7 2,000 150 11 19,800 22,964
45 8 2,000 200 10 24,000 26,982

The present Illustration is only indicative and is not part of the Insurance request/contract.
*The Company’s investments are in compliance with the requirements of the Decree No. 1205/1978 amended by decree No. 2441/2009 (implementation of the Decree No. 9812/1968 governing insurance companies);
The Issuer and the Guarantor being Bancassurance SAL, and the Paying agent being the Bank.
** The projected amounts are based on an annual projection rate of 4.5% and are shown for projection purposes only after deducting the insurance fees, settlement fees and management fees.
These amounts and annual projection rate are not guaranteed and do not constitute any engagement for Bancassurance SAL.
The Educational Saving Plan is issued by Bancassurance S.A.L (CR: 75 309, Beirut), a life insurance company affiliated to BanqueLibano-Française. Bancassurance S.A.L is a joint stock company established under the Code of Insurance with a paid-in capital of LBP 4,5 billion.
The contract shall become automatically effective following review of the insurance request and its acceptance and provided that Bancassurance SAL issues the particular conditions.
The Capital Markets Authority of Lebanon has not passed upon or takes no responsibility for the information contained in the above-mentioned documents or for the merits of investing in this product
All death claims under this contract are subject to inheritance tax payable by the designated beneficiary.

BANCASSURANCE SAL
Capital 4,500,000,000 Lebanese Pounds
CRB 75309 Beirut
Insurance company registered in the Insurance Companies Register
Under No. 241 as per Ministerial Order No. 25/1/AT dated 20/01/2000
Amended by Ministerial Order No. 222/1/AT dated 22/04/2000 and
Subject to legislative decree No. 9812 dated 04/05/1968
Tax Number - 194626
Semiramis Building, 4th floor
Weygand Street, Bab Idriss, Downtown,P.O.B. 11 6729,Beirut – Lebanon
Phone& Fax : 961.1.960100
E-mail: bancassurance@ebancassurance.com

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