SLIC launches School Fee Protector life insurance plan

The national insurer Sri Lanka Insurance Corporation (SLIC) launched the School Fee Protector life insurance plan, to ensure an uninterrupted education for children studying in private and international schools. 

SLIC School Fee Protector is introduced after recognising competitive lifestyles and the significant financial responsibilities of the communities in Sri Lanka. By paying all pending school fees in the event of a parent’s unforeseen demise or total permanent disability, School Fee Protector plan assists in ensuring an uninterrupted education to the children of private and international schools. With school fee continuing to rise faster than wages, School Fee Protector can safeguard your child an uninterrupted education in the event that the worst occurs. With School Fee Protector, the child will not experience the misery of having his or her education disrupted or completely discontinued in such circumstances, where the ability to pay remaining fees would otherwise no longer exist. 

The parents aged between 18 to 65 years at the time the policy is taken can purchase School Fee Protector. Parents can choose the policy term and cover value according to the remaining number of school years and fees for the child and commence the policy with a single premium for the entire policy term. Cover can be taken at any time, not just at the beginning of the school year.