Get a SCR200,000 life insurance policy for your child!

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Get a SCR200,000 life insurance policy for your child!


The Sacos Junior Plan is a life insurance policy  designed for children. Parents or legal guardians can purchase the policy for their child, which matures upon the child reaching the age 18, 19, 20 or 21 or is fully paid upon the unfortunate death or total permanent disability of the parent.

Choosing the sum assured for the insurance policy requires careful consideration, so to help you consider your options we are starting with a SCR200,000 life insurance policy.

Factors to consider:

TermThe longer the term, the cheaper the monthly or annual premium. E.g. Assume you are 35 years of age, a SCR200,000 policy maturing in 10 years will cost around SCR1,688 per month, whereas the same policy maturing in 20 years will cost SCR687 per month. The maximum term is 20 years and minimum is 10 years.

Your Age – In insurance, you are considered to be of a higher risk, the older you are. For the Sacos Junior Plan, the premium rate is similar for parents aged between 18 and 35 years, but increases for parents aged between 36 and 55 years of age. The policy is not available to parents aged above 55 years of age.

Your child’s age – You can easily have a 20-year policy if you purchase the Sacos Junior when your child is one-year-old. Because of our age limit, your child must not be older than 21 years of age when the policy matures. The policy matures when your child reaches between the ages of 18 and 21 years.

Premium – When purchasing the policy, you must decide what is financially comfortable for you. sured for your child.

You can choose to pay your premium on a monthly, quarterly, half yearly or an annual basis. The higher the premium you pay, the bigger the sum assured for your child. E.g say you are 30 years of age and you choose a policy lasting 15 years, with a SCR1,017 monthly premium you are insuring SCR200,000 life insurance policy, however, with a SCR2,541 monthly premium you are insuring a SCR500,000 insurance policy for your child.

When purchasing a Sacos Junior Policy, always consider inflation and what the sum assured would be worth in the future. Speak to an agent or one of our officers for more assistance on a right policy for you. You can also use the online-calculator on our website (www.sacos.sc/here-for-you/life-assurance-plans/) to try out different rates.

The figures cited in the above article is only indicative. For a formal quotation please contact us on 4295 000, request a quote from our website (https://www.sacos.sc/here-for-you/life-assurance-plans/), send an email to life@sacos.sc  or visit one of our branches.

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