This comprises of four main covers:
1. Education planThe plan combines the life cover with investment. The sum assured plus the accrued bonuses are payable at maturity of the policy. You will affect the policy on your life with the child as the beneficiary. The term of the policy will be determined by the point at which you want the child to start benefiting. You will also choose whether you want the sum assured at maturity to be paid in installments or as a lump sum. For example, if your child will go to high school or university in 10 years time, then you can choose the date of the maturity to coincide with that time, and the sum assured to be paid in, say, four equal annual installment, or in a lump sum
BenefitsThe plan is bonus-earning, and bonuses are added to the sum assured every year after actuarial valuation of the Life Fund. The bonuses are paid together with the sum assured when the policy matures. An additional terminal bonus of 100% of the reversionary bonuses allocated is also paid at maturity or on death.
- Combines protection (Life Cover) with Investment
- Profit participating earning you bonuses thus giving a return on your investment
- Provides a secure way to save and meet your goals
- Attracts a 15% tax relief benefit up to a capped maximum
- Flexibility on the amount of contribution to match your financial needs
- Extra benefits including accidental death, permanent disability or last expense can be extended in the policy
- Policy re-date and policy reinstatement is considered when need arises
- In case of death, subsequent premiums are waived and the policy continues earning bonuses until maturity date
Financial needs keep multiplying all the time, yet the capacity to cater for them may not grow at the same pace. planning to build your own home, buy a car, plan for your Child's education or even save towards your retirement. family needs may not be met immediately on our current incomes and one solution may be to start saving now. Also, life is full of uncertainty. Misfortune can strike any time. If it does, your family may be exposed to hardships, and your property may be put at risk. That is why it is important for you to invest now for a better future, through our unique endowment plan
This plan combines life cover with investment. The sum assured plus the accrued bonuses are paid at the maturity of the policy, or on earlier death. You can choose the term of the policy and the sum assured best suited to your circumstances, and we shall advise you of the cost. For example, if your child is expected to go to high school or university in 10 years, then the date of maturity could coincide with the date of entry, which is when you will need the money.
Benefits- Combines protection (Life Cover) with Investment
- Profit participating earning you bonuses thus giving a return on your investment
- Provides a secure way to save and meet your goals
- Attracts a 15% tax relief benefit up to a capped maximum
- Flexibility on the amount of contribution to match your financial needs
- Extra benefits including accidental death, permanent disability or last expense can be extended in the policy
- Policy re-date and policy reinstatement is considered when need arises.
Term insurance is a life insurance product, which offers financial coverage to the policyholder for a specific time period. In case of death of the insured individual during the policy term, the death benefit is paid by the company to the beneficiary. The purpose of taking life insurance is to provide life cover to the policyholder and financial security to his family.
Key Policy Features & Benefits- Larger life cover Since term life insurance plans are more affordable it is possible for an individual to opt for a higher life cover for the same premium as an endowment plan
- Riders The policyholder can attach riders to the term plan, thereby enhancing the utility of the policy. So by opting for a critical illness rider or a critical illness plan, for instance, he is entitled to receive the sum assured on being diagnosed with the critical illness. This is in addition to the death benefit of an equal amount on death over the term of the policy.
An emergency fund is a readily available source of assets to help people navigate financial dilemmas, such as the loss of a job, a debilitating illness, a major repair to home or car—not to mention the kind of major national crisis the coronavirus pandemic has created. The purpose of the fund is to improve financial security by creating a safety net of cash or other highly liquid assets that can be used to meet emergency expenses. It also reduces the need to either draw from high-interest debt options—such as credit cards or unsecured loans—or undermine your future security by into other important funds.
An emergency fund should contain enough money to cover between three and six months’ worth of expenses, in line with proper personal finance planning. A money market fund is a good option for your emergency fund plannng.Planning