Benefits that cover the family are just as important as benefits that cover your employees. And at YuLife, we know that wellbeing also includes peace of mind for employees — that both themselves and their loved ones will have the protection they need should something happen to them.That’s why we are excited to unveil its newest benefit offering: the YuLife Education Benefit! What is the Education BenefitWe’ve added this product to our suite of benefits to cover a vital part of any employees who are parents: education for their children.It provides robust financial security for education and care needs by covering the education costs for an employee’s children up to the age of 23, as well as care needs upon an employee's unexpected death or permanent disability."The YuLife Education Benefit goes beyond traditional insurance offerings by providing a comprehensive solution to support the educational and care needs of employees' children,” says Jaco Oosthuizen, Managing Director of YuLife South Africa and co-founder of the YuLife group. “We believe this benefit will offer parents the comforting assurance that their children will be taken care of, even in the face of life's uncertainties."We are dedicated to inspiring individuals to live their best lives while providing essential financial security for employees' children in the event of unforeseen circumstances — and this benefit will do exactly that.How does the benefit work? The Education Benefit is calculated based on a percentage of salary multiplied by the remaining years from age 6 until and including age 22. This is for all employees to ensure fairness and inclusivity — and it doesn’t take into account individual education fees.A lump sum per child is allocated to a dedicated trust, expertly managed by an appointed trustee rather than a claims administrator. Because we know each family is different and has diverse needs, the Education Benefit also covers an unlimited number of children, providing comprehensive support for families of all sizes.How to use it The funds available in the trust can be used for various education-related expenses — from fees, school clothes, stationery and sporting equipment, to food and personal care. We’ve built this product to allow flexibility without rigid rules, to give maximum adaptability for the child and their family.No use it or lose it rules apply. If you have any funds left over, they can be used when the scheme is terminated to support the child's transition to the next stage of life. This means the benefits continue to offer value even beyond the active period of the program."We are dedicated to enhancing the wellbeing of our members and their families,” Jaco concludes. “We believe this latest addition to YuLife's benefits will redefine the landscape of employee benefits, ultimately safeguarding the futures of a new generation of South Africans."For more information on the YuLife Education Benefit Protector, reach out to our support team here. About YuLife.YuLife is working to reimagine the insurance industry by protecting lives, rewarding living and inspiring life. We’re on a mission to transform traditional insurance into a life-enhancing experience each employee will value and use daily. How does it work? Our award-winning app uses behavioural science and game mechanics to reward your people for living well while offering protection in case of crisis. And with our top-rated employee assistance programme, your team gets access to mental, financial and social support, virtual GPs, nutritionists, life coaches and more to help them live their best lives.Because we believe that your employees should benefit from their insurance from day one — and that wellbeing should be accessible every day, for everyone.Request a demo for your team today.