This policy is intended to pay for the insured student’s educational costs in the event that the providing parent or guardian is killed in an accident or becomes completely disabled for the rest of his life.

(a) The primary purpose of the policy is to pay for the covered student’s educational costs.

(b) The amount insured is determined by the cost of education for a certain course.

(c) The policy period (typically a long-term policy) corresponds to the duration of the course.

(d) A financial institution receives the compensation amount and releases funds in accordance with the needs of the educational institution.

(e) The insured student receives payment for the balance in the account at the end of the course.

(f) If a student stops studying, the money that is still in his account is reimbursed to him after the deadline, which is when the course would have completed if he had kept going.

One of the policy’s unique features is that it covers accidents where the parent or guardian dies as a result of surgery or within seven days of the procedure.