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MaxEdu Plus
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One of the major responsibilities you face as a parent is your child's university education. Trying to secure university education is not easy as the cost of education is constantly rising. For example, a degree in Medicine in Singapore today costs approximately S$125,0401. In 18 years, the same course will be as high as S$193,9131 and S$209,0071 in 21 years.

If your child wants to go overseas, the cost of education is even higher. For example, a medicine course in Australia today costs about S$359,3882. It might cost as high as S$827,4312 in 18 years and S$943,6062 in 21 years.

However, university education for your child need not be a financial burden if you plan early. Introducing MaxEdu Plus - a plan specially designed to help you protect and save for your child's future education.   

Receive 10% cash rewards* on the first year annual premium when you sign up for MaxEdu Plus today.
The cash rewards will be credited into your child’s saving account upon successful application.


*Terms and conditions apply

Next Steps :   
 Benefits

Save Easy. Rest Easy.
This plan helps you save in disciplined and smart manner so that you can build up your savings to provide for your child's education.
With the addition of Premium Waiver Benefit rider, you are rest assured that in the event of Death or Total & Permanent Disability, the remaining premium payments will be taken care of. Your child can still enjoy both yearly cash benefits and maturity benefits for the univesity education.

Liquidity
You will receive guaranteed yearly cash benefits from as early as the second year. These cash benefits may be used to offset your child's primary and secondary school expenses.

Flexibility that caters to your needs
A choice of 12, 18 or 21 year endowment plan. You can also choose to collect the cash benefits, accumulate them at OAC prevailing interest rate, or use them to pay part of the premiums.

 Eligibility

Life assured between 1 month to 14 years (age nearest birthday)

 

Sources:
1. NUS Undergraduate Tuition Fee (Academic Year 2006/2007) and Singapore Department of Statistics - Mean of 10 years Consumer Price Index (1996 to 2005 inclusive).
2. Tuition fee at University of Queensland, University of Western Australia and University of Melbourne; Australia Bureau of Statistic - Mean of 10 years CPI (1996 to 2005 inclusice).

Important Notice

MaxEdu Plus is a participating regular premium endowment insurance with cash benefits plan and is underwritten by Overseas Assurance Corporation Ltd, a wholly-owned subsidiary of Great Eastern Holdings Ltd and a member of the OCBC Group, and is not a deposit or obligation of, or guaranteed by OCBC Bank.

Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable may be less than the total premiums paid. 

You may wish to seek advice from a financial adviser before making a commitment to purchase a life policy. In the event that you choose not to seek advice from a financial adviser, you should consider whether the life policy in question is suitable for you.

This material is for general information only. It is not a contract of insurance. It does not constitute an offer to buy an insurance product or service. It is also not intended to provide any insurance or financial advice. The specific terms and conditions of the plan are set out in the policy documents. A person interested in the insurance policies should read the product summary and benefit illustration (available from OCBC Bank) before deciding whether to buy this product.

No representation or warranty whatsoever (including without limitation any representation or warranty as to accuracy, usefulness, adequacy, timeliness or completeness) in respect of any information (including without limitation any statement, figures, opinion, view or estimate) provided herein is given by OCBC Bank and it should not be relied upon as such. OCBC Bank does not undertake an obligation to update the information or to correct any inaccuracy that may become apparent at a later time. All information presented is subject to change without notice. OCBC Bank shall not be responsible or liable for any loss or damage whatsoever arising directly or indirectly howsoever in connection with or as a result of any person acting on any information provided herein.

OCBC Bank, its related companies, their respective directors and/or employees (collectively “Related Persons”) may have positions in, and may effect transactions in the products mentioned herein. OCBC Bank may have alliances with the product providers, for which OCBC Bank may receive a fee. Product providers may also be Related Persons, who may be receiving fees from investors. OCBC Bank and the Related Persons may also perform or seek to perform broking and other financial services for the product providers.

This publication may be translated into the Chinese language. In the event of any ambiguity, discrepancy or omission between the English and Chinese versions, the English version shall apply and prevail.

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