Liberty's Evolutionary EduCator offers cover to even more learners

Published Date: 11/06/2023
Source: Liberty Group Limited

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Kresantha Pillay

Insurer Liberty is now offering its versatile and adaptable EduCator cover designed for children's education as stand-alone cover.

 

The EduCator benefit which responds continually to the challenges of the evolving South African education landscape pays the costs associated with a child’s education, from creche all the way up to university level, if the policyholder passes away or is diagnosed with a covered critical illness or becomes permanently disabled.

 

"EduCator has evolved through the years to make sure children's futures remain protected despite changing education needs and circumstances. Offering this as a stand-alone benefit means that more parents have easier access to this comprehensive benefit," says Kresantha Pillay, Liberty Chief Specialist for Risk Products and Lifestyle Protector.

 

EduCator Xtra also introduces a cashback feature, a unique financial catalyst that comes into effect when the child turns 18. Policyholders can reclaim the full amount of premiums paid for the benefit, offering families a tangible reward that can make a real difference in a young adult's life. Unlike typical cashback policies that only pay out if no claim is filed, EduCator Xtra ensures that whatever premiums that were paid for this benefit were accrued to the date of the beneficiary's 18th birthday will also be paid out, providing an extra layer of financial security.

 

This bonus can then go a long way towards other financial needs of the child - or can be re-invested.

 

A continually evolving solution

 

"EduCator is designed to adapt to parents and their children's changing needs, and for this reason we're continually adding new features," says Tom Crotty, Liberty's Lead Specialist Risk Technical Marketing.

 

As it continues to adapt, this year alone has seen EduCator extend its current list of international universities to include more universities in Europe, North America, Australasia and the Middle East for those looking abroad.

 

Previously it has also adapted to cover things like home schooling during the COVID-19 pandemic, paying for children with special needs, early childhood tuition and covering education overseas in the wake of many families in South Africa choosing to emigrate.

 

Parents wanting to take up EduCator for their children should speak to a Liberty Financial Adviser, who will be able to assist them to create the best possible solution for their particular needs.

 

"Education is a long journey with many twists and turns along the way. Our EduCator policy over the past twenty years has provided 3100 beneficiaries with access to education, with more than R95 million paid out to cover tuition and supplementary allowances. This proves we're in it all the way with your child's future being secure with us as we continue to respond to continuing changes in the education landscape," concludes Pillay.