(25%; 25% and 50% Payments)
Anticipated Endowment Assurance is a policy that pays out a percentage of the sum assured after the completion of a predetermined number of years. The payment is divided into three parts and the benefits is paid out at equal intervals during the period (term) of insurance.
- 25% of Sum Assured will be paid at the end of one-third of policy term
- 25% of Sum Assured will be paid at the end of two-third of policy term
- 50% of Sum Assured plus accrued bonuses will be paid at maturity
In the event of death before the end of the term, the policy pays to the beneficiary of a deceased assured, an amount which is equal to the Sum Assured selected by him/her from the commencement of the policy irrespective of the interval benefits that might have been paid.
THE BENEFITS
- Family protection
- Tax advantages
- The policy can be used as a collateral for any facility obtained
- Bonus declared enhances maturity benefits
THE FEATURES
- Minimum age at entry is 20 while the maximum age at entry is 60
- Unlike the investment link products, no specific interest rate is guaranteed in the case of endowment schemes.
- Some forms of bonuses accrue to the policy yearly as declared by the organization.
- Policy duration is flexible but subject to minimum of six (6) years. The term selected must be divisible by three. (The available terms are 6,9,12,15,18,21&24)
- There is no policy loan available under this policy.
- This plan will acquire surrender value after two full years premium have been paid and after two years have elapsed from the commencement date of the policy. The surrender value payable will be less total survival lump sum payment already paid under the policy. The insurance protection under the policy also ceases on surrender.
- The premium payable under this type of policy is determined by the following factors
- The Sum Assured selected by the assured
- The Date of Birth of the assured, and
- The Duration of the scheme
- The premium can be paid monthly, quarterly, half-yearly or annually and throughout the policy duration.
To purchase policy or get more clarification please contact us:
Tel: 08036411416 or 08023782509
Email: bayomutualbenefit@gmail.com or omotoshoa@gmail.com
Address: 38 Community road akoka, Yaba, Lagos
Tel: 08036411416 or 08023782509
Email: bayomutualbenefit@gmail.com or omotoshoa@gmail.com
Address: 38 Community road akoka, Yaba, Lagos
