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Life Assurance & Investment Policies

Life insurance pays a designated beneficiary a sum of money in exchange for a premium (fee), upon the maturity of the policy or in the unfortunate case of the death of the insured person. Insurance not only provides for financial support in the event of untimely death but also acts as a long-term investment.

You can meet your investment goals, be it your children’s education, their marriage, building your dream home or planning a relaxed retired life, according to your life stage and risk appetite. Traditional life insurance policies i.e. traditional endowment plans, offer in-built guarantees and defined maturity benefits through variety of product options such as Money Back, Guaranteed Cash Values, Guaranteed Maturity Values.

Name of Product Cash Plus Policy Child Saver Policy Festival Advanced Plan Saving Protection
About An endowment policy with death cover designed to provide a lump sum to dependants on death of the life assured. Pure savings policy designed to cater for primary, secondary or tertiary educational needs of children and no Life Cover is provided An endowment policy with death cover designed to provide a lump sum to dependants on death of the life assured. An investment policy intended to create a saving in form of a lump sum on survival of the life assured or to benefit dependants in case of early death.
What does this cover? Death cover designed to provide lump sum to dependents on death of the life assured Savings policy designed to cater for primary, secondary or tertiary educational needs of children and no Life Cover is provided Death cover designed to provide a lump sum to dependants on death of the life assured. An investment policy intended to create a saving in form of a lump sum on survival of the life assured or to benefit dependants in case of early death.
Ideal for Those planning to have periodical cash lumpsum for specific purposes (bonuses) and who want their families covered in case of their early death Parents planning for the future of their children who are still in school Those who annually have events to celebrate or plan for holidays Those who want to save for specific projects
Allowable Age 18 to 55 years on entry 1 day up to 15 years old 18 to 55 years old 18 to 65 years old
Applicable Terms Lasts for 12 and 20 years Lasts for a minimum of 6 years, customers preference and maximum of 15 years Lasts for 10 to 47 years Lasts for 5 to 25 years
Minimum premium K9,000/monthly K9,000.00/month K9,000/monthly K7,500/monthly
Premium payment Premium payment is flat Premium payment is flat Premium payment is flat Premium payment is flat
Coverage up to No maximum Limit No maximum Limit No maximum Limit No maximum Limit
Premium Payment Options Monthly,Quarterly, Half Yearly, Yearly Monthly,Quarterly, Half Yearly, Yearly Monthly,Quarterly, Half Yearly, Yearly Monthly,Quarterly, Half Yearly, Yearly
Payment Methods Employer Standing Order, Bank debit order, cheque, direct deposit Employer Standing Order, Bank debit order, cheque, direct deposit Employer Standing Order, Bank debit order, cheque, direct deposit Employer Standing Order, Bank debit order, cheque, direct deposit
Surrender value Up to 24 months in force and full premiums have been paid. Up to 24 months in force and full premiums have been paid. Up to 24 months in force and full premiums have been paid. Up to 24 months in force and full premiums have been paid.
Lapse Upon failure to pay premium within a grace period of six months the investment benefit will go into lapse (if policy is less than 2 years).Please contact admn for more details Upon failure to pay premium within a grace period of six months the investment benefit will go into lapse (if policy is less than 2 years).Please contact admn for more details Upon failure to pay premium within a grace period of six months the investment benefit will go into lapse (if policy is less than 2 years).Please contact admn for more details Upon failure to pay premium within a grace period of six months the investment benefit will go into lapse (if policy is less than 2 years).Please contact admn for more details
On Maturity On Maturity the full sums assured plus accrued bonus is payable On maturity of the policy sums assured plus accrued bonuses are payable. On maturity of the policy only the sums assured is payable On maturity of the policy the full sums assured plus accrued bonuses is payable.
ID Documents required Original or certified copy of death certificate Original or certified copy of death certificate Original or certified copy of death certificate Original or certified copy of death certificate
Exclusions Death caused by war, riot and terrorism, aviation (aircraft) - (other than a passenger) and Suicide Death caused by war, riot and terrorism, aviation (aircraft) - (other than a passenger) and Suicide Death caused by war, riot and terrorism, aviation (aircraft) - (other than a passenger) and Suicide Death caused by war, riot and terrorism, aviation (aircraft) - (other than a passenger) and Suicide
Cooling Off Period If withdrawn within 20 days of issue before any claims, a refund of premiums is made. If 20 days lapse, policy rule of cancellation and surrender shall apply If withdrawn within 20 days of issue before any claims, a refund of premiums is made. If 20 days lapse, policy rule of cancellation and surrender shall apply If withdrawn within 20 days of issue before any claims, a refund of premiums is made. If 20 days lapse, policy rule of cancellation and surrender shall apply If withdrawn within 20 days of issue before any claims, a refund of premiums is made. If 20 days lapse, policy rule of cancellation and surrender shall apply
Premium Increase options Premium may be increased annually. Premium may be increased annually. Premium may be increased annually. Premium may be increased annually.
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