What is this product about?

• This is a regular premium, non-participating education endowment product that will help an individual to save a lump sum money for his child tertiary education fee when the child attained the age of 18 or 20.
• The policyowner shall decide at the time of buying the product.

What are the covers and benefits provided?

The Forte Life Education plan cover the life of both the Policyowner who is the Payor and the child who is the Life Assured.

• Policyowner who is the payor– in the event of the Death or Total and Permanent Disablement of the Payor, all future premiums under this policy will be waived. The Policy will continue running until maturity to generate a lump sum maturity value which is equivalent to the Guaranteed Sum Assured for the child to continue education at age 18 or 20.
• The child who is the Life Assured – in the event of the Death or Total and Permanent Disablement of the child, the Basic Sum Assured of the Policy shall be payable to the Policyowner.
• Education Cash Allowance – when the child attained the age of 12, an Education Cash Allowance of USD 100 will be available to the Policyowner for his child life celebration. The Policyowner will have the option to withdraw or deposit and accumulate the USD 100 together with the cash value and the Guaranteed Maturity Benefit.
• Guaranteed Maturity Benefit – The Guaranteed Maturity Benefit which is equivalent to the Guaranteed Sum Assured shall be payable at the end of the product terms.
• Guaranteed Special Dividend – This is a special one-off Guaranteed Benefit payable at the end of the product term.
• Cash Value – no cash value for the 1^st and 2^nd Cash Value is available from 3^rd year onwards should the Policyowner decided to surrender the Policy for whatsoever reason.

How much premium do I have to pay?

• The total annual premium will depend on your affordability and is decided by you. For example, if you can afford to set aside USD 50 per month or USD 600 per year, your total annual premium will be USD 600 per year. If your child is age 1 last birthday, the duration of the Policy contract is 17 years. The Guaranteed Maturity Benefit at the end of the contract terms is USD 10,200. In addition, the Guaranteed Special Benefit at the end of the contract terms is USD 3,468. The total pay out at the end of 17 years maturity point is USD 13,668 to meet your child’s university fees. The total Sum Assured for Death or TPD cover for the child or the Life Assured shall always maintain at US 10,200 for the whole duration of the 17 years provided premium is paid consistently without stop.
• The minimum premium per year is USD 240 per year.
• Additional premium may be charged due to the The Policyowner or Life Assured health status, medical examination and company underwriting requirements.
• The total premium paying terms and the product term are the same.
• Grace period: you are given 30 days of grace period after the due date.
• It is important that you receive and keep the receipt(s) of your payment as proof of payment of premiums.

What are the major exclusions under this policy?

 Death Benefit

• If the Policyowner or the Life Assured, whether sane or insane, commits suicide within twenty-four (24) months from the issue date or the reinstatement date, whichever is later, this Policy shall become void and we shall return the premium after deducting any amount due to us under this Policy.
• Death benefit not payable if Death resulted from committing or attempting to commit a criminal offence

Total and Permanent Disablement (TPD)

 There are circumstances where TPD is not covered, for example:

1. Any attempt at suicide, whether sane or insane, or any intentional self-inflicted injuries;
2. Commission of a criminal act;
3. Under the influence of intoxicating liquor or as a result of drugs or substance abuse;
4. Acquired Immune Deficiency Syndrome (AIDS) or any complications associated with infection by the Human Immunodeficiency Virus (HIV)

What are the fees and charges I have to pay?

• All fees, charges and taxes are computed into the Policy life insurance premium. There is no additional payment required from the policyowner.

What are some of the key terms and conditions that I should be aware of?

• Importance of disclosure – you must disclose all material facts such as medical conditions, and state your age correctly
• Free-look period – You may cancel the Policy by returning the Policy within fifteen (15) days from the date of delivery of the Policy if the Policy coverage does not meet your original intended purpose. The premium that you have paid (less any medical fee incurred) will be refunded to you.
• The Policy does not have any Cash Value on cancellation for the first 2 years.
• If you cancel your Policy in the early years, you will get back less than the amount you have paid in.
• You should satisfy yourself that this product will best serve your needs and that the premium payable under this product is an amount that you can afford for the whole duration of the contract.
• Please read the sales illustration provided by the insurance consultant for better understanding of the product
• All proposals are subject to underwriting approval.

Can I cancel my policy?

• You may cancel the Policy by giving a written notice to Forte Life Assurance (Cambodia) Plc. However, buying life insurance is a long-term financial commitment for the benefit of your family members. Therefore, it is advisable to consider very carefully before deciding to cancel the Policy.
• If you do not pay your premium within the grace period, your Policy will lapse unless your Policy already acquired sufficient Cash Value to off-set the premium payment and keep the Policy in force till the Cash Value is exhausted.

What do I need to do if there are changes to my contact details?

• Please contact Forte Life Assurance (Cambodia) Plc if there are any changes in your contact details to ensure all correspondence reach you at a timely manner.

• Notification to Forte Life within 30 days in the event of loss
• Submitted required claim document within 90 days
• Claims will be processed and settled within 10 working days after summit all complete documents
• For more information, please contact our claim department at Claim Department at 081 885 399 or sopheak@fortelifeassurance.com