DUBAI — Beginning this academic year, Gems group of schools will provide its students with an optional educational insurance, to ensure their education remains uninterrupted in the event of unforeseen circumstances.
This is the first time in the UAE that an academic institution shall be
providing its students with an "education protection programme". The programme
will guarantee the student's education until the completion of secondary school
and will cover full tuition fees. In the event of death of the "primary wage
earner", as stipulated by the programme, the student will have the option of
studying in the same school or in an equivalent Gems school in any other
country.
"We hope to launch the programme in the next couple of weeks in all of the Gems
schools in the UAE, and eventually, outside the country. It is an optional,
value addition for parents, who may elect to subscribe to this educational
insurance," said Sunny Varkey, Founder and Chairman of Gems.
The insurance cover is being launched after a number of Gems students were
unable to continue studies following the death of the earning parent.
While the premium amount for the cover is yet to be fixed, Varkey assured it
would be 'affordable'.
"The final details are being worked out. However, the programme would be nominal
and affordable to parents," he added.
Parents welcomed the novel protection programme stating they may choose to take
it up, if it fits their budget.
"I would definitely opt for it if it is affordable as it provides security for a
child's education. The child would be used to a certain standard of living and
if we have to move back to our home country in case of anything, it wouldn't be
unsettling for the child," said Vasantha Bhaskar, a parent of two children
studying in the Gems Wellington School.
"The option of studying in an equivalent Gems school outside the UAE is integral
as some expatriates may be dependent on the spouse's visa and would not be able
to stay in the country in the event of death," said Jane, another Gems parent.
However, many said they would rather wait and watch to see if the programme was
really affordable and optional.