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Saturday, April 4, 2009

Hong Leong Tokio Marine Takaful Launches Education Savings Scheme

Hong Leong Tokio Marine Takaful Berhad (HLTM Takaful) has launched its "HLTMT i-Grad" scheme, a long-term education savings scheme, to help finance children's education expenses while providing protection.

Under the scheme, parents will have to pay as from RM70 a month while they will be given the flexibility to determine when the scheme matures -- when the child reaches 19, 21, 23 or 25 years, said Chief Executive Officer Abdul Latiff Abu Bakar.

"We believe access to education can be assured through a scheme that has the family's interests at its core and we keep the contributions low so that parents are not unnecessarily burdened and provide the added benefit of protection.

"The new scheme allows parents to save for their child's education, leaving them with enough room to provide for the rest of their family needs," he said in a statement.

Abdul Latiff also said the scheme will provide back-to-school benefits, whereby a child is entitled to RM100 a year at the start of every school term from age 8 to 18, and reward exam benefits to i-Grad participants for excellent academic achievements.

"Children covered under this scheme will have an additional layer of protection via pay or benefits rider and in the event of death or disability of their parents, the child will still be protected while payments of further installments will be waived," he added.


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