About Madison Student Tuition Fees Policy

The purpose of the product is to provide cover (student tuition and optional living allowance) to the student beneficiary in the event of  death of the policyholder and

a fixed payment to the policyholder in the event of death of the student.​ Available to guardians or parents of students enrolled at public or private learning institutions in Zambia.

Benefits.

Guarantee continuity of a student’s education after demise of the parent or guardian (tuition fees payer).  Offers financial security and peace of mind to the parents

or guardians in the event of death.​ Provide for optional living expense allowance of 25%, 50%, 75% or 100% of student sum assured.​ Waives all future premiums in the event of premature death of the Life Assured (parent or guardian) within the term of the policy before  renewal.​ Payment of funeral cover on death of the student during the term of the policy.  Policy is yearly renewable with a minimum policy term of two (2) years.​ ​

Target Eligibility.

Parents and Guardians with children enrolled at tertiary learning institutions, both public and private.​ The parent or guardian of the child at the time of proposal should be between 18 and 65 years age next birthday.​

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Sums Assured

​ Sums Assured are calculated based on the Total Tuition Fee payable for the entire study duration.  Two Options are available​ Reducing Benefit  Level Cover​ Sums Assured are dependent on the policy term.​

Premiums.

Premiums may be embedded in the school fees for Group Tuition or paid directly to Mlife for Individual Tuition fee.  the learning institutions then remits to Mlife​ The premiums are calculated based on the sum assured  Policy Term is 1 year (Yearly Renewable)​ Frequency of payment (Annual, semi-annual or quarterly)