BBAC, in collaboration with Allianz SNA, offers the education saving plan, "NAJAH", which gives you the opportunity to start saving early for your children's future education.
WHY DO YOU NEED "NAJAH" PLAN? -You need this plan to be able to face the continuously rising cost of living especially the cost of university education. By deducting a monthly amount from your income, you can ensure your ability to pay for your children's education in private universities and the continuity of their schooling and university tuition payments in case you were exposed to a sudden accident.
WHAT KIND OF COVERAGE CAN YOU RECEIVE? -Coverage to insure the university tuitions of the child in the event of natural or accidental death or permanent total disability of the Insured -Coverage to insure the schooling tuitions of the child in the event of natural or accidental death or permanent total disability of the Insured (optional)
WHAT OTHER FACILITIES DOES THE PLAN OFFER? -Saving can start from the moment the child is born -Comfortable monthly premiums of minimum 50 USD automatically withdrawn from your bank account with no extra charge -The possibility to protect the insured amount and the investment amount from inflation with an increasing annual variation rate between 1% and 10% -A minimum rate of return on investment at the date of issue, for the accumulated amount, of 3.5%* annually guaranteed by Allianz SNA and subject to the prevailing taxes (currently at 10%) -The possibility to benefit from additional return on investment according to the dividend rate declared annually by Allianz SNA -Flexible plan that allows you to change the insured amount, the monthly premiums and the variation rate
* The company reserves the right to increase or decrease this rate once per year at the end of the fiscal year, as many times as it deems necessary during the lifetime of the policy, by written notice and/or through a public announcement.
In case of any increase or decrease of the minimum guaranteed rate at the date of issue, it shall only affect allocations generated from future premiums paid after the date of such change. Therefore the above investment amounts might change accordingly.
** The university tuition can be paid according to the customer's preference, either as lump sum or spread over annuities starting from the age of 18, which increases its total value.
The plan is subject to the deduction of a referral fee in favor of BBAC.
WHAT ARE THE APPLICATION CONDITIONS? -You must hold an account at BBAC -You must be between 18 and 55 years old -The contract should be for a minimum period of 8 years
WHAT IS THE NEXT STEP? Visit any BBAC branch, where customer service representatives are ready to provide assistance.