Educational Savings Plan
Do you wish the best for your children?
Secure their future within your financial means by ensuring them a higher education for a successful professional life.
Banque Libano-Française provides you with the adequate solution to all your concerns by offering you the Educational Savings Plan with a life insurance coverage.
The Educational Savings Plan in brief
Beneficiary
- each Savings Plan can be allocated to one of your children
Period of contract
- minimum 4 years, maximum: until the insured reaches the age of 75 (or 65 if the schooling option is selected)
Premiums
- currency: USD or LBP
- you can choose the frequency of payments that suits you best: monthly, quarterly, semi-annually or annually
- constant or progressive according to the annual indexation rate of your choice
- minimum amount: USD 25/month or LBP 50,000/month, USD 300/year or LBP 600,000/year
- additional payments are possible at any moment (minimum required USD 100 or LBP 500,000)
Availability of funds
- possibility of withdrawing the saved amount totally at any time or partially starting the fourth year with no penalties
Return on savings
- competitive annual rate of return
Coverage
- death or total permanent disability (natural or accidental causes)
- death or total permanent disability caused by passive war (optional)
Disclaimer: All information contained on this website is provided for general information purposes only. It does not constitute in any manner a solicitation, offer or recommendation to enter into any transaction or operation with respect to relevant products or services, and does not bind nor engage Banque Libano-Française in any agreement nor commitment of whatsoever nature nor imply the Bank in any obligation to activate or launch any of the products and or services provided in this website.
The information included herein does not constitute in any way legal, financial or investment advice and cannot constitute ground for any decision.
Banque Libano-Française reserves the right to change, amend and update the products and services as well as the terms and conditions provided in this website at any time, and therefore Banque Libano-Française shall not be held liable for any direct or indirect, incidental or consequential damages or losses resulting from use of the information contained herein.
Any information on the products and/or services of Banque Libano-Française shall be obtained from Banque Libano-Française branches only in order to get the applicable terms and conditions related thereto.
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The Educational Savings Plan is issued by Bancassurance S.A.L. (CRB: 75 309, Beirut), a life insurance company affiliated to Banque Libano-Française. Bancassurance S.A.L. is a joint stock company established under the Code of Insurance with a paid-in capital of LBP 4.5 billion.
The Company’s investments are in compliance with the requirements of the decree no. 1205/1978 amended by the decree no.2441/2009 (implementation of the decree no. 9812/1968 governing insurance companies); the issuer and the guarantor being Bancassurance S.A.L., and the paying agent being the Bank.
The contract shall become automatically effective following the review of the insurance request and its acceptance, and provided that Bancassurance S.A.L. issues the particular conditions.
The Capital Markets Authority of Lebanon has not passed upon or takes no responsibility for the information contained in the abovementioned documents or for the merits of investing in this product.
All death claims under these contracts are subject to inheritance tax payable by the designated beneficiary(ies).
BANCASSURANCE S.A.L.
Capital 4,500,000,000 Lebanese Pounds
CRB 75 309, Beirut
Insurance company registered in the Insurance Companies Register
under no. 241 as per Ministerial Order no. 25/1/AT dated 20/01/2000
amended by Ministerial Order No. 222/1/AT dated 22/04/2000 and subject to legislative decree no. 9812 dated 04/05/1968
Tax Number: 194626
Semiramis Building, 4th floor
Weygand Street, Bab Idriss, Downtown, P.O. Box: 11 6729, Beirut, Lebanon Phone and fax: 961 1 960100
E-mail: bancassurance@ebancassurance.com