Personal Accident Policies in addition to usual death and disablement benefits also provide without any additional premium the benefit of Education Fund for the Dependent Children of the deceased insured. It provides that in the event of death or Permanent Total Disablement of the Insured Person the Company will also pay compensation towards Education Fund for the dependent children (i) For one child up to age of 23 years-10% of CSI up to a maximum of Rs. 5,000/-. (ii) For more than one child up to age of 23 years-10% of CSI up to a maximum of Rs. 10,000 (iii) The age limit of 23 years shall apply on the date of accident only. Provided that the total amount payable under this head under all Personal Accident policies shall be limited to a maximum of Rs. 5,000/- in case there is one dependent child and Rs. 10,000 in case there are more than one dependent child.

A benefit offered by the employer, wherein the employee’s educational costs are repaid.

A fund that supplies money for a child’s education if the family’s breadwinner dies. Part of a life insurance policy.

Also known as “school board legal liability insurance,” educators legal liability protects school and college administrators and staff from non-bodily injury and nonproperty damage liability claims brought against them. Examples of the claims that may arise include wrongful termination and failure to grant tenure. The policy is a combination of directors and officer liability and errors and omissions insurance. (See Directors and Officers Liability; Errors and Omissions Insurance).