School Plan - Insurance

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School Plan

A unique 2-in-1 plan comprising an insurance plan - School Protection Plan, and a child savings account - OCBC Young Savers Account. It is designed to help you offset the basic expenses incurred once your child starts school.

See which School Plan suits you and your child best or make an appointment right away!

Receive up to S$400 cash rewards* when you sign up for the School Protection Plan. The cash rewards will be credited into your child’s saving account or SmartParent's account upon successful application.

*Terms and conditions apply

Next Steps :

Benefits

With a choice of 12 years or 18 years tenor, you will only need the commitment for the initial 6 years of premium payments. What's more, you will receive cashback every year from as early as the end of 6th year onwards. You will not have to worry about your financial commitments until the end of your chosen tenor.

These annual cashback received can be used to offset your child's school fees, uniform, textbook, tuition fees and other basic associated costs.

Insurance protection is provided for your child. In addition, should the unexpected happen to you (death or total and permanent disability), the remaining premiums will be waived and your child still enjoys the cashback benefit.

Grow your money with attractive maturity returns.

Eligibility

Life assured between 1 month to 9 years of age.

Important Information

Singapore dollar deposits held by or for a non-bank depositor in accounts listed in OCBC Bank's Insured Deposit Register (available at www.ocbc.com/policies) will be insured in accordance with and for up to the limits specified in the Deposit Insurance and Policy Owners' Protection Schemes Act 2011 of Singapore.

School Protection Plan is a participating regular premium endowment insurance plan underwritten by The Overseas Assurance Corporation Limited, a wholly-owned subsidiary of Great Eastern Holdings Limited and a member of the OCBC Group, and is not deposits or obligations of, or guaranteed by OCBC Bank. 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 from a financial adviser, you should consider whether the life policy in question is suitable for you.

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.

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 in respect of any information 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.

Policy Owners' Protection Scheme

This plan is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg).