Education Savings Plan

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Product Disclosure Statement

Increase to limits

Lifeplan is pleased to advise that after a review of the rising cost of education over the past year, we have increased the contribution and benefit limits in the Education Savings Plan (the Plan) with effect from 1st October 2008.

The maximum contribution allowable per nominated student has increased to $365,000 (previously $350,000). References to the maximum contribution can be found under ‘Key features and benefits at a glance’ on page 4 and ‘Is there a limit to how much I can contribute?’ on page 5, of the online Product Disclosure Statement (PDS).

From 1st October 2008 there will no longer be a cap on the education benefit. In line with this change the maximum living allowance is now $5,200 per calendar year (previously $5,000 per calendar year). Reference to the maximum education benefit can be found under ‘What are the annual education benefit limits?’ on page 15 of the online PDS. References to the maximum living allowance can be found under ‘Can the student claim a living allowance?’ on page 14 and ‘What are the annual education benefit limits?’ on page 15 of the online PDS.

Lifeplan Education Savings Plan PDS (PDF)

For complete details about the Lifeplan Education Savings Plan you should read our Product Disclosure Statement. This document contains important information about the product and it is necessary to have read it before applying either online or using the written application contained within this Product Disclosure Statement Adobe Acrobat (pdf) file.

If you wish to save the Product Disclosure Statement on your computer, once the file has opened in Acrobat, simply click on the icon that looks like a "floppy disk" then save it to your desktop for future reference. You are also able to print this document on your printer.

This online Product Disclosure Statement has the exact content as the printed version available from Lifeplan, however this online version has been redesigned into landscape format and uses less images for quicker download, easier viewing on screen and less paper wastage should you decide to print the file.

If you have any questions please see Frequently Asked Questions on this site or Contact Us.