Prime Plan
The policy allows a member to save a set amount each month in a unit - linked fund. The fund aims to provide long- term real returns by investing in a wide range of assets including quoted and unquoted stocks and shares, government bonds, properties and debentures.
- One can choose a fixed period of savings from 10 to 25 years. However, the term can be extended to suit the policyholder’s needs.
- At maturity, the policy pays out a lump sum amount arising from the cash value of the units purchased.
- In the event of an urgent need for funds during the term of the policy, one may make partial withdrawals from your policy provided it has been in force for at least two years.
- The Plan can be tailored to suit one’s needs, which can be any including the following:
- College education for own children or dependents.
- Deposit for the purchase of a home.
- Deposit for the purchase of a car.
- Creating a fund for paying bridal dowry (lobola) and for a honeymoon.
- Funding a dream holiday in some exotic places.
- Setting up a business.
- In addition to regular contributions, the policy allows members to make lump sum payments in order to boost the accumulated investment.
- The Policy may be surrendered after two years of premium payments in whole for an amount equal to its cash value.
- It can also be automatically paid-up if premiums remain unpaid after the expiry of the grace period. The paid-up policy may be reinstated within six months from the date of the last premium receipt.
- One can add Life cover, Accident benefit and Premium waiver on disability benefits to the savings policy.
- In the event of death, the cash value of units allocated at the time of death will be paid together with benefits that may arise from optional riders such as the Accident and Level term assurance.