In recent times, life expectancy has increased due to advances in medical sciences and health facilities. As a result of this, planning and saving for your retirement is necessary to ensure that you have adequate provision for your future.
Scope of the cover
- The plan provides you with a substantial cash payment upon retirement.
- The term of the policy is determined by the policyholder subject to the minimum term and maximum cease age of 50, 55, 60 or 65 years.
- It is an inflation–friendly retirement fund with life assurance protection.
- It offers financial security in old age for both the individual and his family
- In the event of the death of the policy holder, their beneficiary will be paid either the death cover or the policyholder’s monthly contribution depending on which has the higher value.
- Partial withdrawals of up to 50% of the total monthly contributions may be made once in a year as long as the policy has been in force for 2 years.
- The policy holder can also decide to terminate the policy after 2 years.
- Monthly contributions may be increased if the individual has the means to do so.