Endowment Plan

This is an investment and protection life assurance policy.

It’s designed for individuals who want to save or seek financial protection;

• For themselves or for their beneficiaries in the event of their death
• To cater for their children’s school fees.

This life assurance cover is provided from ages 20-55 and for duration of 5 to 20 years.

Premiums can be paid monthly, quarterly, half yearly or a single.

• Maturity Benefits – The estimated maturity value becomes payable.
• Waiver of premium on death: Should death occur to the policyholder during the term of the policy, the estate of the deceased is exempted from future premiums. The policy will remain in force and all benefits accruing to the policy remain payable upon the expiry of the policy term.
• Policy Loan of up to 70% of the amount in the savings account
• Waiver of premium on disability: In case of Permanent Disability of the policyholder, they will be exempted from payment of future premiums. However all benefits accruing to the policy remain payable upon the expiry of the policy term..
• Child Income Benefit: In the unfortunate event of death of the policy holder during the term of the policy, the child will be entitled to a monthly income equivalent to a maximum of 1% of Sum Assured until the expiry of the policy. All other benefits accruing to the policy upon maturity will then become payable.

• Maturity Benefits – The estimated maturity value becomes payable.
• Partial Withdraw – For policies of 10 year durations and above, the client has an option to withdraw 25% of the Sum Assured after 5 year. The Client can then take an additional withdrawal of 5% of the Sum Assured after the 6^th The balance of 70% becomes payable on maturity.
• Waiver of premium on death: Should death occur to the policyholder during the term of the policy, the estate of the deceased is exempted from future premiums. The policy will remain in force and all benefits accruing to the policy remain payable upon the expiry of the policy term.
• Policy loan of up to 70% of the amount in the savings account

• A proposal form is filled, 1^st premium paid and a policy document is issued.