Bradesco Vida e Previdência will launch an individual educational insurance policy aimed at parents and guardians who want to guarantee the continuity of their children's or other dependents' studies in case of death, disability, loss of income, or temporary incapacity. This is another step in the expansion of the Life segment's portfolio, which has grown by 9% in the last 12 months.
The first individual product of its kind on the market, educational insurance targets a gap that is still largely unexplored in Brazil. Currently, the available solutions are mostly group plans and depend on the schools offering them. If the institution does not provide the product, the family is left without a direct purchase option.
“When I changed my children’s school, the first thing I checked was if they had educational insurance. It was a great school, with significant tuition, and they didn’t even know what it was about,” says Bernardo Ferreira Castello, CEO of Bradesco Vida e Previdência. “That’s when we saw an opportunity.”
The product will begin testing in June, in a pilot program with approximately 70 brokers selected by the company. The launch is planned for early July, at the start of the school re-enrollment period.
In practice, the policy will be based on the monthly tuition fee and the educational cycle that the responsible party wishes to protect. Instead of defining generic coverage, as in a traditional life insurance policy, the client provides the student's age, educational level, and monthly tuition fee.
Coverage may be adjusted annually, reflecting school tuition increases, school changes, or progression to more expensive stages of education. The insurance will cover various types of private education, from preschool to high school, as well as undergraduate, graduate, and language courses.
The company is targeting a potential market of approximately 9 million students in private schools and other private formal education models. This audience may have one or more financial guarantors linked to the insurance policy.
In addition to death and disability coverage, the product will also offer income loss protection. For salaried workers (CLT), coverage will focus on involuntary unemployment. For self-employed individuals, protection will be tailored to temporary physical incapacity.
“The risk we are covering is not just death or disability. It is the interruption of that family's ability to continue paying for school,” says Castello. “That's why the product needs to appeal to both salaried and self-employed workers.”
Expansion strategy
Educational insurance is another piece of a strategy that Bradesco Vida e Previdência has been developing over the last three years to grow in the life insurance sector. This move involves reviewing its product portfolio, with fewer generic offerings and more flexible solutions that can be customized for different customer profiles—from individuals to small and medium-sized businesses.
“Growth in flagship products isn’t enough,” says Castello. “We sought to reduce the quantity of products and have more flexible products that can be customized to each client’s cost.”
The first wave of this strategy came in individual products, especially those focused on estate planning. Then, the company moved into corporate, group, and business products. Now, it's starting to work on what the executive calls niche products, such as travel insurance and educational insurance.
In individual life insurance, the company has begun to organize its offerings around fewer products, but with a greater capacity to combine coverages and assistance services. In the material sent by the company, Castello cites products with more than 20 coverages and more than 20 assistance services, in addition to solutions focused on estate planning and options with redemption programs.
On the business front, the strongest growth came from small and medium-sized enterprises (SMEs). In three years, Bradesco Vida e Previdência went from virtually zero in this portfolio to approximately R$ 600 million in premiums last year. The SME segment alone already represents 5% of the company's revenue in personal insurance.
The Flexible Business family is the platform used by the company to target this audience. Within it are products such as Global Capital, with customizable coverage; Key Person, aimed at protecting partners and directors; specific solutions for micro-entrepreneurs; redeemable products; and, more recently, Bradesco Collective Flexible Business, for SMEs with three to 500 lives.
The numbers show the traction of this front. The Flexible Business family grew 272% in revenue in 2025, going from R$ 157.2 million in 2024 to more than R$ 585 million. Global Capital advanced 82% in premium volume and 70% in its customer base. Meanwhile, Key Person grew 380% in revenue and 468% in its customer base.
The surge in Life insurance comes at a time when private pension plans are experiencing greater instability, especially after changes involving the IOF tax on VGBL plans. In the last 12 months, Bradesco Vida e Previdência's pension vertical recorded a 25% decrease in revenue. During the same period, the Life insurance segment grew by 9%.
The company closed 2025 with revenues of R$ 50 billion, with R$ 36 billion in pension plans and R$ 14 billion in personal insurance. Although pension plans still represent the largest part of the business, life insurance is gaining ground in the strategy of diversifying sales channels as well.
About three years ago, the Bradesco Seguros Group underwent a strategic commercial restructuring. With this move, Bradesco Vida e Previdência tripled its base of insurance brokers who sell personal insurance and private pension products. In the last 12 months alone, there has been a 15% increase in sales through market insurance brokers.
The bancassurance model remains a relevant basis for the operation, with specialist brokers within the bank. But the company has begun to seek complementary revenue streams from market brokers, business partners, investment offices, financial planners, and affinity channels.
According to Castello, channels outside of Bradesco already account for about 7% of pension revenue and 7.2% of life insurance revenue. Three years ago, this share was practically zero.
However, diversification is not limited to distribution. According to the company, expansion in Life insurance also involves occupying new areas of financial planning, in topics such as longevity, family planning, estate planning, and product customization.
“The expectation is to consolidate a sustainable growth cycle, supported by expanding the portfolio, strengthening the offering of solutions that better meet customer needs, and evolving the culture of financial protection in the country,” says Castello.
