HOW DOES THE PLAN WORK?
The policy pays five annual benefits. These are equal to the following percentage of the total fund value
|PAYMENT||PERCENTAGE OF FUND|
|1st Payment||25 %|
|2nd Payment||30 %|
|3rd Payment||35 %|
|4th Payment||50 %|
|5th Payment||100 %|
WHO CAN THE PLAN COVER?
The life assured is the only member who can be covered and must be aged 18-60 years. However beneficiaries are nominated to benefit under the policy.
In the event of the policyholder dying, all future premiums are waived and covered by the insurer. There is a 6 month accident only waiting period on the waiver of premium benefit.
ARE THERE ANY AGE LIMITATION?
Yes. The minimum age to entry is 18, and the maximum age to entry is 60. Cover ceases at age 70. This limit also defines the maximum term available for each age e.g. for a 60 year old, the maximum cover term is 10 years.
If the age of any of the Life Assureds is incorrect any benefit that becomes payable will be recalculated. This condition is not applicable to ages outside 'age at inception' limits. Benefits payable would be repudiated if actual of any life assured is outside the 'age at inception' limit.