Don’t leave their education to chance.
While you may set up other policies that your family can access for your child’s education, those may be misused or abused by the people who have access to the funds. BALOO ensures that your child’s needs take priority, and they’re all met. BALOO Education Cover steps in when you can’t.
See Plans
Leave it
to BALOO.
Up to R1.5 million Education Cover per child
Staggering reality of the costs of education in SA, approx. 1.5 mill per child, excluding sports tours, extra lessons, other necessities. BALOO is dedicated education cover that makes sure school fees and care are paid — even if life throws you off track.
How it works
Don’t leave their education to chance.
Leave it to BALOO.
Up to R1.5 million Education Cover per child
While you may set up other policies that your family can access for your child’s education, those may be misused or abused by the people who have access to the funds. BALOO ensures that your child’s needs take priority, and they’re all met. BALOO Education Cover steps in when you can’t.
See Plans
01
How BALOO Works:
Choose
your plan
Lorem ipsum dolor sit amet, consectetur adipisicing elit. Maiores corporis ex doloremque tempora, quas voluptatibus corrupti officiis at laboriosam eveniet quia voluptates? Harum veritatis repellendus natus esse doloribus hic amet.
02
How BALOO Works:
Get ahead
of things
In the event of your death, the BALOO benefit is transferred into a dedicated children’s trust. BALOO covers your child until they turn 23 or complete tertiary education, whichever comes first.
03
How BALOO Works:
Funds
allocated
properly
Trust and trustees fees are indemnified, ensuring the full value goes towards your child/children’s education and care.
FAQs
Staggering reality of the costs of education in SA, approx. 1.5 mill per child, excluding sports tours, extra lessons, other necessities. BALOO is dedicated education cover that makes sure school fees and care are paid — even if life throws you off track.
Only BALOO specialist education cover has measures in place that ensures funds will be spent on education. We make sure you Don’t leave their education to chance.
Answer:
BALOO is designed to secure your child’s full education journey in the event of your passing. It covers more than just school fees, it also includes costs like school trips, stationery, aftercare, transport, and more. The benefit is managed through a dedicated trust, ensuring fast, structured support without the usual delays of a traditional claim process. Coverage continues until your child turns 23 or completes their tertiary education, whichever comes first.
Answer:
BALOO is a standalone product, which means you don’t need to bundle it with any other insurance policy. It’s designed to independently protect your child’s education future without being tied to life cover or other products. Simple, focused, and powerful on its own.
Answer:
No, each plan holder can only hold one BALOO policy. It’s designed to be a complete, standalone solution for your child’s education needs.
Answer:
BALOO pays out on the death of the plan holder. That’s when the policy kicks in to cover your child’s education expenses, from school fees to transport and more.
Answer:
No, BALOO does not include a capitalisation benefit. Instead, the benefit is paid into a trust to be used directly for your child's education needs.
Answer:
No, once the policy is underwritten and accepted, your full cover starts immediately with no waiting periods.
Answer:
The minimum entry age is 18. There is no official maximum age, but eligibility is subject to underwriting and meeting the income requirements.
Answer:
Yes, you’ll need a minimum monthly income of R12,500 to qualify for BALOO.
Answer:
Premiums are age rated, which means they may increase as you grow older. Annual premium increases will also apply based on inflation (CPI or 4%, whichever is higher).
Answer:
BALOO covers your child until they turn 23 or complete tertiary education, whichever comes first. After that, the plan converts to a whole of life policy with no education benefit.
Answer:
There are no guaranteed benefits. All claims and outcomes are subject to the terms and underwriting conditions of the policy.
Answer:
All applicants must complete a medical questionnaire. Based on your answers, the insurer will either: Accept at standard rates, or Decline the application. Once accepted, you’ll have full cover with no waiting period.
Answer:
Yes! You can upgrade or downgrade your policy anytime. Downgrades don’t need underwriting. Upgrades require a new medical questionnaire. If not approved, your current cover stays in place.
Answer:
Yes. Each year on your policy anniversary, two things happen: Your benefit increases by the higher of CPI or 4% (ABI). Your premium increases accordingly (ACI), plus may also increase based on your age and insurer review.
Answer:
Cover begins on the Cover Commencement Date in your application. From the date of signing to that commencement, you’ll be covered for accidental death only under certain conditions. There’s no cover if the application is declined or the claim isn’t valid.
Answer:
If you miss a payment, your policy goes into arrears. You must pay a double premium next time. If you miss that too, your policy will lapse and cover will stop.
Answer:
Yes, but only once, and at the insurer’s discretion. If you request reinstatement, a full medical questionnaire is needed. If the insurer initiates it, you’ll only complete a medical declaration, unless there’s a health change. Reinstated non-underwritten plans will restart all waiting periods.
Answer:
BALOO has no general exclusions listed. Specific cases may still be evaluated on claim submission.
Answer:
You have 12 months from the date of the plan holder’s death to notify the insurer of the claim.
Answer:
Your child is covered until they turn 23 years old or complete tertiary education, whichever happens first.
Answer:
Premiums are paid monthly, and you choose your payment day: the 1st, 15th, 20th, or 25th of each month.
Answer:
Your benefit and premium will increase on your plan’s anniversary, based on inflation and age. You’ll also get a summary of your policy status.
Answer:
Yes, you have a 1 month grace period to catch up on a missed payment. If a valid claim is made in that month, the outstanding premium will be deducted from the claim.
Answer:
A valid claim must meet these conditions: The plan is in force at time of death. The death is not excluded. The claim happens within the benefit term and after cover starts. There was no misrepresentation. The event happened after policy commencement.
Answer:
Yes. The insurer may review and adjust your premiums but must give you at least 31 days' notice in writing.
Answer:
Yes, you have a cooling off period where you can cancel or change your policy with no penalties. All premiums will be refunded, provided no claim has been made.
