As parents there is no greater satisfaction than seeing our children succeed. While good education is becoming an essential step in securing their future, it is also becoming more expensive. That is why planning early is an important step to ease the burden of college costs.
Lebanon & Gulf Bank in collaboration with Allianz SNA has designed the Education Saving Plan, the first step towards saving for the education of your children.
Advantages and Benefits
- You can save for the required university tuitions through moderate monthly payments automatically debited from your bank account with no additional charges.
- You will benefit at the date of issue from a minimum guaranteed rate of return on your investment of 3.5%* annually guaranteed by Allianz SNA and net of the taxes due by the company.
- You can benefit from additional return on investment according to the dividends rate declared yearly by Allianz SNA.
- You can protect the insured amount and the investment amounts from inflation through an increasing annual variation rate of 1% to 10%.
- In case of natural or accidental death or (optional) total permanent disability, the continuity of the plan is insured and the agreed-upon university tuitions are paid when the child reaches the pre-defined university age.
- Optional: In case of natural or accidental death or (optional) total permanent disability, the agreed upon schooling tuitions are paid.
Conditions of the plan
- Your premiums will be debited from your account at Lebanon & Gulf Bank.
- You should be between 18 and 55 years old.
- The minimum monthly premium is 25 USD.
- The plan is subject to the deduction of a referral fee in favor of Lebanon & Gulf Bank.