What is an Education Fund Benefit?

Education costs have been increasing exponentially over time. This has made it difficult for most households to be able to bear with the soaring expenses. It gets even more difficult for a sole bread-earner. Hence, having a plan for your child’s future is a smart move and saves their career if there is any mishap. 

Bajaj Markets  brings to you the FlexiCare Group Insurance Policy – Education Fund Benefit Cover for dependent children from Manipal Cigna Health Insurance. This insurance policy covers an amount of up to Rs. 4 Lakhs for the educational expenses of your children, only if the child is under 25 years of age

Key Features of Education Fund Benefit

Here’s what makes this Education Fund Benefit a must have: 

 

Accidental Death Coverage

If the policyholder dies due to an accident then their child will get the insured sum for their education for the period of the policy, whether or not they have been registered under this policy.

Please note that the validity of the benefit prevails only if the dependent child’s age is below 25 years as on the occurrence date. Also, if there is more than 1 child then the insured sum will be divided among all the children who are eligible equally.

 

How to Apply for the Education Fund Benefit

The application process for this Education Fund Benefit is super easy. All you must do is follow a few steps to get covered:

  • Click on Buy Now

    Head to the page and click on ‘Buy Now’.

  • Submit details

    Fill in the necessary details in the online application form.

  • Pay online

    Once you submit the application form, pay the premium charges. The policy will then be sent to your registered email ID.

Now, you will receive your membership details and welcome pack on your registered email ID. 

 

Eligibility Criteria

To opt for the Education Fund Benefit, you need to meet the basic eligibility parameters listed below:

  • You must be a Resident of India.

  • Your age must be between 18 and 65 years.

What’s Covered?

  • Coverage against Accidental Permanent Total Disability

    If the policyholder suffers Permanent Total Disability due to an accident, then they shall get the insured sum for the education of their dependent child reimbursed for the period of policy. This is done irrespective of the fact whether the child(ren) has/have been insured under this insurance policy.

  • Coverage Against the Treatment Charges

    The policy will get the policyholder’s ICU, transfusion, hospital room rent, doctor’s fees, tests and medicines covered.

Policy Details & Specifications

Following are the details that specify Education Fund Benefit details for 1 year:

Sum insured

Premium including GST

Rs. 1 Lakh

Rs. 79

Rs. 2 Lakhs

Rs. 139

Rs. 4 Lakhs

Rs. 254

What’s Not Covered? 

Let’s also understand some of the mandatory exclusions of the Education Fund Benefit – 

 

Accident due to adventure sports

If the policyholder suffers an accident due to their participation in adventure sports then the benefit amount cannot be claimed.


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How to Make a Claim?

You can raise the claims for the the reimbursement for the consultation of doctors of the benefits of radiology or lab in these steps - 

You can make a claim in the following ways -   

  • You can send an email the team at servicesupport@manipalcigna.com by mentioning your policy number and other details.  

  • Call on the toll-free number 1800-102-4462.  

 

 

Customer Care Details

Feel free to connect with us at Bajaj Markets. Just write to us at: insuranceconnect@bajajfinservmarkets.in

Frequently Asked Questions

  • ✔️How can I make a claim for the Education Fund Benefit?

    You can make a claim for this care plan via email at servicesupport@manipalcigna.com or by calling the insurer on their toll-free number (1800-102-4462).

     

  • ✔️Can my membership be cancelled anytime?

    Yes, your membership can be cancelled any time as per your wish. You can call our 24-hour helpline for assistance or send us an email. In case you wish to cancel within 30 days from the date of commencement of your membership, you will receive a full refund of your payment. However, note that it is only applicable if you haven’t made any claim. 

     

  • ✔️How many children are insured under this policy?

    Please note that the validity of the claim prevails only if the dependent child’s age is below 25 years as on the occurrence date. Also, if there is more than 1 child then the insured sum will be divided among all the children who are eligible, equally.