|Manulife Endowment Insurance|
One of Manulife's dual-purpose insurance products is ProGraduate (PG). ProGraduate is an insurance program devoted to assisting parents in preparing education funding for the baby since entering college until your child is 23 years old. Benefits of cash payment as a total education fund of 250% of the sum insured, and the flexible payment period in accordance with the needs of your child's education and your financial condition of 5 years, 10 years and 15 years.
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The main benefits of the ProGraduate dual-benefit insurance are:
- Benefit of Cash Payments, which is the benefit of education fund provided as a cash payment benefit of 250% (two hundred and fifty percent) of the sum insured, which is granted according to their respective schedule at the age of 18-23 years.
- The Benefits of Death
- Benefits obtained if the insured dies in the coverage period, which is 150% of the sum insured or Rp300.000.000 or exemption of further premium payments.
- Additional benefits if the insured dies from accidents as follows:
- An additional 50% of Sum Insured shall be granted to the Designated Person if the sum insured is <Rp200.000.000; or
- An additional Rp100,000,000 granted to the Designated Party if sum insured ≥ Rp200,000,000.
While the additional benefits of ProGraduate coverage that can be selected are:
- Accidental Death and Disability Benefit (ADDB), an additional coverage that provides the death benefit and the total fixed or partial disability benefit of the insured caused by the accident.
- Waiver of Premium (WP), an additional coverage that provides premium waiver benefits until the insured reaches the age of 60 years or until the end of the period of insurance payment, whichever occurs earlier, in the case of permanent total disability of the insured caused by illness or accident.
- Hospital Benefit Plus (HB Plus), an additional coverage that provides reimbursement benefits for hospital treatment for the treatment of the insured due to illness or accident.
- Health Safe, an additional coverage that provides reimbursement benefits for the treatment of the insured due to illness or accident, which is equipped with cashless facility to facilitate the process of hospitalization without the need to make cash payments.
Premiums paid by customers include administrative costs, insurance fees, bank commissions and marketing costs (if any).
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ProGraduate bilateral education insurance in addition to providing protection against the risks that can occur, this insurance also provides cash certainty given on schedule at the age of 18 years to 23 years. Because of the certainty of savings or education funding, this insurance is classified as dual-purpose insurance.