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EduCare (Child Education Plan)

  • EduCare* brought to you by RAKBANK and offered by Orient Insurance PJSC, is a plan that allows you to save for your child’s education via easy payments of affordable premiums. Its flexible terms allow you to decide how much, how often and for how long you wish to save.
  • EduCare is offered with two options: EduCare – Full Term & EduCare – Limited Term. The table below highlights the details:
  EduCare (Full Term) EduCare (Limited Term)
Premium Paying Term Equal to the Policy Term Equal to 2/3rd of the Policy Term
Maturity Benefit 100% of the Sum Assured + Accrued Bonuses
Death Benefit 1% of the Sum Assured every month till maturity + WOP + Maturity Benefit 100% of the Sum Assured (Immediate Support) + 1% of the Sum Assured every month till maturity + WOP + Maturity Benefit
Inbuilt ‘Waiver of Premium’ All the future premiums will be paid by Orient Insurance PJSC in the event of death or establishment of Permanent Total Disability of the Life Assured

You also have an option of selecting the below additional benefits at a nominal additional premium:

  • Accidental Death Benefit: The nominated beneficiary will receive double the Sum Assured only if Accidental Death Benefit Sum Assured is equal to Basic Sum Assured
  • Permanent Total Disability (Accident & Sickness): The Life assured will receive the Sum Assured subject to a maximum Sum Assured of Permanent Total Disability
  • Permanent Total Disability (Accident): The Life assured will receive the Sum Assured subject to a maximum Sum Assured of Permanent Total Disability in event of total disability due to accident
  • Permanent Partial Disability: The Life assured will receive Sum Assured subject to a maximum Sum Assured of Permanent Partial Disability
  • Passive War Risk: The nominated beneficiary will receive the Sum Assured value, on account of an unfortunate death of the Life assured (as an innocent bystander) in case of war.
  • Anywhere, anytime! Worldwide coverage with benefits payable in any country
  • The policy can be owned by an individual only
  • Option to take multiple policies
  • Choice of Policy terms: 5 to 30 years for EduCare (Full Term) and 8 to 30 years for EduCare (Limited Term)
  • Choice of payment frequencies: Monthly, Quarterly, Half Yearly or Annual
  • Policy currency available: AED & USD
  • Payment modes: Credit Card and direct debit to RAKBANK Account
  • Hassle free Medical underwriting
  • Reinstatement is possible within 24 months without any penalty
  • Early withdrawals allowed after the 2nd policy year
  • Get Cashback! Pay your premiums with a RAKBANK Credit Card
  • RAKBANK Customers with valid UAE/ GCC Visa
  • Minimum Age at Entry: 18 Years
  • Maximum Age at Entry: 65 Years for EduCare (Full Term) and 62 Years for EduCare (Limited Term)
  • Maximum Age at Maturity: 70 Years

* Insurance is offered by Orient Insurance PJSC for RAKBANK Customers and is subject to their approval. Terms and Conditions of the Insurance policy shall apply. This is for your information only and RAKBANK is neither responsible for, nor guarantees or warrants the quality, fitness for purpose, suitability of the Insurance being offered and does not accept any liability and will not be liable for any loss or damage arising directly or indirectly to the customer taking the Insurance.

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