What is the purpose of Barclays Child Education Plan?

The purpose of Barclays Child Education Plan is to provide a substantial amount at the time when your child is going for higher education.

What is the maximum and minimum premium?

The minimum annual premium under the plan is Rs. 24,000 whereas there is no limit to maximum contribution.

What is the additional benefit in this plan?

Lump sum payment upto Rs. 5,000,000 in the event of Accidental Death of the parent (Life Assured).

What are the applicable ages and minimum duration for this plan?

The plan is available to individuals of 18 years to 65 years of age. The minimum duration of this plan is 10 years.

Does the plan offer any free look period?

The plan offers a 14 days free look period in which the customer can cancel the policy and have full premium refunded less any medical charges, if incurred.

Can I access my savings when I need them?

The plan provides complete access to the accumulated fund value after 2 years. After the contributions have been paid for two full years, the fund can be withdrawn for its full or partial value.

Is there any medical examination required before I can buy this plan?

This primarily depends on the coverage amount selected. For a low coverage amount and depending upon the medical conditions stated in the application form, a policy may be issued without the need to undergo any medical examination. Please contact Barclays relationship manager for further details.

Can I contribute more when I have extra funds to spare?

Barclays Child Education Plan allows depositing surplus funds called “Fund Accelerated Premium” (FAP) at anytime during the policy term as permitted by the plan.

Is the premium I am paying secured?

Yes, your basic premiums are secured provided that there are no claims paid out and all premiums are paid on time till maturity. Cash Value can only be refunded once 2 full years premium have been paid.

What if my child is already in college, can I still signup?

Yes, you can still signup since the lump sum amount paid at maturity can be utilized for any other financial need.

What is the process for claims?

For all claims related matters please contact EFU Life on (021) 111-338-111 or 0800-33800.

What if I have any queries / complaints?

Customers can contact EFU Life on (021) 111-338-111 or 0800-33800 directly for any product related query / complaint. Customers can also be facilitated via Barclays hotline on 111-225-587 for any query / complaint.

What percentage of my contribution is allocated towards my savings?

What is the contribution of my Education Bonus*?

The proportion of your Education Bonus is as follows:

How can I optimize my premium allocation?

You can earn extra premium allocation towards your savings if your basic annual premium is as under: