Life insurance can help provide for the people who depend on you financially, if you can't be there for them. The money can be used for final expenses, help to replace your lost income, cover debts, pay your mortgage, fund a child's education, and more.
This is a product which combines a life assurance with a saving plan, such that when death occurs at any time within the policy period the Life assurance benefits become payable; while at maturity of the policy, the contract sum assured with all bonuses accrued is payable.
Education is an endowment savings plan with limited life insurance (waiver of premium) where the savings premiums are accumulated and invested for clients to generate future school fees. As for the pension plan start saving with us now and we will help you to plan towards getting the retirement you want.
The policy is so designed that the benefits can be used for the education of a named child. The policy may be issued on the life of the father or mother. The maturity date should correspond with the date anticipated that the child will enter into a Secondary School, Teachers College or a University. The maturity benefit is paid instalmentally.
Whole life Insurance
Whole life assurance policies give you protection for life. Unlike term assurance that only pays out if you die during the term of the policy, a whole of life assurance policy always pays out eventually.
In the past taking a decision on what to do with your money was a problem, either to take a life insurance policy or invest your money with interest in a bank or finance house. In the case of the latter, you had to forgo the valuable family financial protection provide by the former.
But now you can have the best of two worlds- benefits of both life Assurance and investment with Personal Pension and Savings (PP & S)
What Is PP & S?
Personal Pension and Savings is the plan whereby a small portion of the amount contributed (premium paid) is used to provide you with a Life Assurance cover, while a large amount is retained in an investment account (in your name) accumulating interest at a guaranteed minimum rate.
Who Will Benefit
PP & S is open to anybody below the age of 50 or 55 depending on the age of maturity.
It is specially valuable to:
(a) the young man/woman who wants to build up funds for the future.
(b) the older man/woman who to augment his/her, pension or accumulate money for specific purpose.
The larger the size of contribution paid regularly, the larger the amount credited to the fund.