Education Plan
The Education Plan is an affordable long-term investment designed to help you
save for your child’s education.
Features and Benefits
- Choice of investment amount - you decide how much to invest on a monthly
basis.
- The starting minimum is N$125 a month.
- Choice of investment term – there is
- the option to invest for a 10- 20
year investment period.
- Access to funds – You can draw cash from your plan after five years to
purchase uniforms or schoolbooks.
- Tax-free payout.
- You can nominate a beneficiary who will receive the money if you die
before your plan matures.
- Age restriction – you must be younger than 75 when the policy matures.
- Inflation-beating returns – your money is invested in Old Mutual’s
Smoothed Bonus Portfolio, which has a history of inflation-beating returns.
In addition your investment earns bonuses based on these returns.
- No medicals – you do not have to undergo a medical in orFree cover – should you die as a result of an accident in the next 10
years or of natural causes after the first three years, Old Mutual will pay
your monthly contributions for the rest of the 10-year period.
Who can invest?
You can invest if you are a permanent Namibian resident aged 18 to 64 and
your child is 14 years or younger.
Investment Term
The investment term is a minimum of 10 and a maximum of 20 years.
Investment Minimums
The investment minimum is N$125 a month.
Fees and charges
Year 0-1:
41.4% + N$5.10
Year 1+:
3.5% + N$5.10
For more information please contact :
Saima Nally Ashipala
tel: +264 (0)61 299 3238
fax: +264 (0)61 299 3142
sashipala@oldmutual.com
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