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Micro Insurance Plan
This has the same characteristic as Pension Plan only that premiums are paid on daily basis through our collectors. In addition, there is a SUSU fund from the daily collection which can be accessed by customers every three months. Also the life cover is typically of a lower amount.
This product targets the informal sector.
“THE PHOENIX PENSION PLAN” is a combination of Life Benefit and an Investment policy. It is a flexible premium policy providing adjustable life insurance coverage paid on maturity (after 3 years)
In the unlikely event of death, a Life Benefit which is equal to the initial Sum Assured plus the Accumulated Value of your investment will be paid on / after maturity. This policy is applicable for individuals of ages 18-55.
We ensure that your investment is maximized by providing a feature that discourages withdrawals and surrendering on maturity (3 years). A surrender charge will be applied if the policy is terminated before the date of maturity. This measure is applied in order to protect your Accumulated Value at maturity.
Premiums are flexible and payable to age 60 (or to age 65, by exception). The policy owner can elect a Monthly Premium of an amount that meets the required minimum.
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