Future Scholar Policy

Future Scholar Policy

Donewell Life’s Future Scholar policy is an investment-linked life assurance policy designed to guarantee or secure the education of the policyholder’s child or ward. It is designed specifically to assist the policyholder accumulate funds to finance the education of the child from kindergarten through basic education to tertiary level.  It also provides life cover which guarantees the child’s education should life fail before the child completes education.



  • A term is selected for the plan with a minimum of Seven years.
  • The policyholder may choose a minimum cover of GHC500.00. A higher amount of (Life Cover) may be selected which will depend on the amount of contribution (premium) the policyholder can afford. However, the minimum monthly contribution is GHC50.00.
  • The scheduled monthly contributions made are deposited into an educational fund (Scholar Account), providing investment benefits.
  • The amount in the scholar account is allocated interest on compound basis. The policy allows for flexible contributions.
  • The life cover amount shall be paid in addition to the scholar account balance for the child‘s education should the parent/guardian pass away.
  • At the end of the policy term the total investment benefits become payable for the child’s education.
  • Maximum age at entry is 75 and minimum is 18 for the policyholder.
  • Children of ages 0 and 25 are covered.
  • Premiums can be paid monthly, quarterly, half-yearly or annually in advance.
  • If premiums are not paid within three calendar months after they become due, the policy will lapse.
  • On Policy Maturity There are three options
  • Take the total investment benefits in one lump sum payments towards the child’s education.
  • Take the total sum in instalments over a specified period to settle school fees.
  • Defer receipts of the benefits over a stipulated period in which case interest will continue to accrue.



  • Attractive investment benefits to fund the child’s education.
  • Easy access to funds to meet school fees after a minimum of two years of contribution.
  • Policy proceeds can freely be transferred to any child or ward.
  • Life assurance benefit which guarantees continued education of the child should the policyholder die before the end of the policy term.
  • Provides for the payment of double the life cover amount in the event of death through accident to fund the child’s education (optional).
  • Provides for the payment of the child’s education by making available the life cover amount should the policyholder become permanently disabled as a result of an accident.
  • Up to 25% withdrawal benefit of the Accumulated fund three times in a year.

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