Platinum Plan

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Platinum Plan

Product Outline

  • This is a savings product whose proceeds are used to purchase retirement pensions.
  • Product proceeds are directly linked to the value of the underlying investments
  • On retirement, each policyholder receives an Accumulated Fund Account allocated to the policy.

Death benefit

  • On death of the policyholder Accumulated Account Balance at date of death is paid out.

Maturity Benefits

  • Accumulated Fund Value at date of maturity is determined.
  • Policy ends.

Paid Up

  • A paid up value is available after 2 years’ premiums have been paid.
  • Paid up value is the percentage of the accumulated fund account.
  • The percentage depends on the duration at paid-up date and original term of the policy.
  • The term to run remains the same as it was before the policy is made paid-up.
  • Accumulated account continues to grow with interest declared from time to time.
  • Policy continues but changed.

Voluntary Early Retirement – Policy Ends

  • Allowed if policyholder is at least 55 age attained.
  • The Policyholder is entitled to the paid up fund value at the date of retirement.

ILL Health Early Retirement

  • Satisfactory medical evidence should be submitted.
  • The policyholder is entitled to fund value as at date of retirement.

Surrender Benefit

  • The policy does not have a surrender benefit.