Article 18-1. Interaction of participants of the state educational accumulative system under the insurance contract The Law On the State Educational Accumulative System

Home / RLA / Article 18-1. Interaction of participants of the state educational accumulative system under the insurance contract The Law On the State Educational Accumulative System

 1. To participate in the State Educational Funded System, the participating insurance organization enters into a cooperation agreement with the operator based on a standard cooperation agreement.

2. The following requirements apply to participating insurance companies:

1) the availability of a license from the authorized body for regulation, control and supervision of the financial market and financial organizations for the right to carry out life insurance activities within the framework of the state educational funded system;

2) participation in the insurance benefit guarantee system.

3. When concluding an insurance contract, the participating insurance organization verifies the beneficiary's compliance with the requirements established by this Law, as well as the absence of a valid insurance contract concluded in favor of the beneficiary and a deposit agreement under which the beneficiary and the depositor are one and the same person.

4. For each insurance contract, the participating insurance organization, within the time limits and in accordance with the procedure established by the cooperation agreement, provides the operator with information about the beneficiary, the amount of the estimated amount under the insurance contract, the purchase amount calculated taking into account investment income, the accrual and amount of the state premium, and the initial educational capital (if any).

5. The operator requests, and the authorized body for documenting and issuing passports and identity cards submits annually by January 1 information on the confirmation of beneficiaries' citizenship of the Republic of Kazakhstan.

6. The operator, based on the information provided by the participating insurance organizations under insurance contracts, calculates, calculates and charges the state premium in accordance with the procedure and terms provided for in paragraphs 2, 3, 4 and 6 of Article 17 of this Law.

7. The participating insurance organization shall charge state premiums for insurance contracts concluded in favor of beneficiaries within five working days from the date of receipt from the operator of the total amount of state premiums.

8. Payment for educational services through an insurance contract is made at the request of the policyholder or beneficiary.

9. Upon enrollment, transfer, registration of academic leave, return from academic leave, reinstatement, and expulsion from the participating educational organization, including in connection with graduation, the beneficiary or policyholder submits copies of supporting documents to the participating insurance organization.

10. Participating educational organization:

1) notifies the operator of enrollment, transfer, registration of academic leave, return from academic leave, reinstatement, and expulsion from the participating educational organization, including in connection with graduation, by sending copies of the relevant documents;

2) at the request of the policyholder, beneficiary, or participating insurance organization, issue a certificate of tuition fees for the required academic period or the full tuition fee as of the date of issue of the certificate.;

3) excluded by the Law of the Republic of Kazakhstan dated 10.01.2025 No. 153-VIII (effective sixty calendar days after the date of its first official publication).

4) upon transfer of the beneficiary to another participating educational organization, transfers the remainder of the payment for educational services to the account of the receiving educational organization, notifying the operator in accordance with the procedure provided for in the cooperation agreement between the operator and the participating educational organization.

11. The remainder of the payment for educational services is the difference between the amount received by the participating educational organization for the beneficiary's education and the amount of the cost of the educational services actually received as of the date of the issuance of the withdrawal order.

12. When the beneficiary is deducted from the participating educational organization, the amount not used for educational services must be transferred by the participating educational organization to the bank account of the participating insurance organization within five working days from the date of issuing the withdrawal order.

The Law of the Republic of Kazakhstan dated January 14, 2013 No. 67-V.

This Law regulates public relations in the sphere of functioning of the State Educational Accumulative System, as well as the conditions, forms and content of its state stimulation.

President

Republic of Kazakhstan

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