I am about to open a somehow life assurance account/a contribution account towards my child's education.So there is this account operated by this Insurance company where the promise to pay one 3% of money contributed annually and some other benefits. In the case of accident,death or illness the pay you one hundred thousand naira monthly to your family and even pay you your expected contribution even though you contributed for only 2 years out of the expected 15 years or so. My question is how true are all these claims ?Has anyone tried them out.

It depends on the insurance company. My company uses GTAssur and they've never failed. Not once! They pay claims as soon as they can. They paid one of our claims in less than 48 hours, but that wasn't life assurance. It was vehicle insurance!