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Walady Education Plan

Walady Education Plan

Since the cost of higher education is rapidly increasing year after year, you will be in need of greater sum at various stages of your child’s education. You can trust our Shari’a-compliant Child Education Plan to meet the responsibilities of your parenthood. It helps you to secure a bright future for your child.

Child Education Plan is a long term savings and investment plan coupled with Takaful protection for the parent. It helps to provide financial security for your child’s education and also offers return on contributions depending on the fund performance.

Key features and benefits with Child Education Plan:

  • A regular savings platform for a specific term which is linked to the performance of underlying investment funds
  • Life cover of the parent for the child’s benefit
  • Continued planned contribution to the investment account on death or disability
  • Flexible Plan period and payment period based on the needs
  • Flexibility to choose adequate Takaful protection level based on age and contribution
  • Convenient payment frequencies – Annual, Semi Annual, Quarterly or Monthly
  • Option to boost your contributions any time with additional lump sum payments
  • Attractive Shari’a-compliant investment funds
  • Option to partially withdraw from the fund value during the term of the contract as per contract terms & conditions
  • Flexibility to change contribution and Takaful cover as per contract terms & conditions

Terms & Conditions apply

An illustrative example of Walady Education Plan*

Gender (Parent) Male Male Male
Age at Entry (Parent) 24 35 43
Age at Entry (Child) 2 6 8
Plan Term 16 Years 17 Years 12 Years
Age at Maturity (Child) 18 Years 23 Years 20 Years
Payment Frequency Annual Annual Annual
Life Cover QR 20,000 QR 45,000 QR 60,000
Annual Contribution QR 4,000 QR 9,000 QR 12,000
Maturity Value at 5% QR 80,094 QR 193,529 QR 163,871
Maturity Value at 9% QR 113,327 QR 280,603 QR 211,757

*These figures are not guaranteed and only demonstrates the effect of charges and expenses on your savings.

  • Visit your nearest branch or contact your relationship manager at QIB
  • Click here to apply
  • For more information, Call us at 44448444

Disclaimer: The product mentioned above is designed and underwritten by Medgulf Takaful. It contains only general information. It does not constitute an offer to buy or sell a Takaful plan or service nor is it intended to provide any financial advice. Any person interested in this plan should read and consider its complete terms and conditions and the initial disclosure document before making a decision. Please request the same from your branch or your relationship manager at QIB.

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