Who is eligible to receive benefits from a KAPT account?
There are no age limits on who can benefit from KAPT. Any adult or child who is at least two years from using contract benefits is eligible to be a KAPT beneficiary, as long as he or she is a Kentucky resident at the time the application is signed or intends to attend college in Kentucky. Once I open a KAPT account, how long is it before the beneficiary can begin using benefits? KAPT requires a two-year waiting period before benefits can be used, even if the account is paid in full initially with a lump sum. Payment of benefits cannot begin prior to the second anniversary of the first payment due date of the agreement. Accounts must be paid in full before benefits can be used. My child is a junior in high school this year. Does this mean I can’t open a KAPT account? Although the two-year waiting period still applies, this does not prevent you from opening a KAPT account. Persons who open accounts during the fall 2004 enrollment won’t be able to use KAPT benefits until the fall of 2007.
