Retirement

personal retirement plan

personal retirement plan

Retirement years should represent a time of rest and enjoyment. The worries of working life ceases and a life of fun begins. With retirement comes the reality that you no longer have a regular monthly income. You may start to feel the financial pressures as your accumulated savings may gradually reduce due to increasing living expenses. This may be as a result of inflation, rising living cost, dwindling or no future savings This is why you need a PERSONAL RETIREMENT PLAN, a retirement savings plan that ensures that you are in control of your life even during your golden years. It is a simple, hassle free plan that helps you to create your own pension pot and live your retirement the way you want it.

Retirement

guarantee life time retirement income plan

Guaranteed Lifetime Retirement Income Plan (GLRP) is an immediate annuity plan that seeks to help you maintain your desired lifestyle in retirement by converting your pension lump sum into a regular stream of income,

Guaranteed income for life subject to a minimum of 10 years. Regular income to a dependent in the event of the annuitant’s demise, if the option is chosen. Depending on the chosen option, income received can be protected from inflation or remain at a flat rate throughout the duration of the policy.

Retirement

plan benefit

The plan also offers the following benefits: (i) Death Benefit (ii) Guaranteed Retirement Bonus Benefit (i) Death Benefit If the policyholder dies during the deferred period (contributory period), the plan will pay to the beneficiaries the higher of: Guaranteed Death Benefit; or Fund balance in the investment account as at the date of death.

The Guaranteed Death Benefit is calculated as the total premium payable during the plan contributory stage (deferred period). The Death Benefit shall always be determined as of the date we receive notification of the death of the Life Insured.

other benefit

Maturity Benefits At the maturity of the benefit, you can elect to convert your maturity proceed (balance in the investment account) plus bonus to immediate annuity that will pay the customer from the date of maturity.

Surrender Benefit The surrender value payable is the balance in the investment account together with the applicable bonus, if any. Eligibility Criteria Minimum age: 18 years; Maximum age: 60 years.