BBAC, in collaboration with Allianz SNA s.a.l., offers the education saving plan, "NAJAH”, which gives you the opportunity to start saving early for your children’s future education.

Why do I need “NAJAH” plan?

You need this plan to be able to face the continuously rising cost of living especially the cost of university education. By deducting a monthly amount from your income, you can ensure your ability to pay for your children's education in private universities and the continuity of their schooling and university tuition payments in case you were exposed to a sudden accident.

What kind of coverage can I receive?

• Coverage to insure the university tuitions of the child in the event of natural or accidental death or total permanent disability of the insured person.
• Coverage to insure the schooling tuitions of the child in the event of natural or accidental death or total permanent disability of the insured person (optional).

What other benefits does the Plan offer?

• Saving can start from the moment the child is born.
• Comfortable monthly premiums automatically withdrawn from your bank account with no extra charge.
• The possibility to protect the insured amount and the investment amount from inflation with an increasing annual variation rate between 1% and 10%.
• A minimum guaranteed rate of return on investment of 4%* annually.
• The possibility to benefit from additional return on investment according to the dividend rate declared annually by Allianz SNA s.a.l.
• Flexible plan that allows you to change the insured amount, the monthly premiums and the variation rate.

 

Illustrative table based on a monthly premium of 50 USD with an annual variation rate of 3%.
 

Age of Insured	Age of Child	Total Paid Premiums (USD)	University Tuition when child reaches 18 ** (USD)
			4% minimum guaranteed annual return on investment*	7% annual return on investment
28	1	13,152	16,896	22,745
30	2	12,180	15,355	20,331
33	3	11,244	13,871	18,093
37	4	10,332	12,400	15,922
41	6	8,580	9,814	12,219
44	8	6,924	7,563	9,124

 

* In case of any increase or decrease of the minimum guaranteed rate, it shall only affect allocations generated from future premiums paid after the date of such change. Therefore the above investment amounts might change accordingly.

** The university tuition can be either paid as lump sum or spread over annuities starting from the age of 18, which increases its total value.

What are the requirements to apply?

• You must hold an account at BBAC.
• You must be between 18 and 55 years old.
• You must pay a minimum monthly premium of 25 USD.
• The contract should be for a minimum period of 8 years.

What is the next step?

Visit any of the BBAC branches, where the customer service representatives are ready to provide assistance.