24/12/2019
THE FIVE DIFFERENT POLICIES THAT WE CAN OFFER YOU:
LIFE TIME HARVEST POLICY:
The policy is an endowment assurance plan that pays out a percentage of the sum assured after a predetermined number of years has been completed. The policy also provides additional fatal accident benefit (AFAB) and medical expenses subject to a maximum of N500, 000 and N100, 000 respectively.
FEATURES
Minimum duration of 6 years
Partial maturity is payable in three fixed intervals during the policy period.
Flexible mode of premium payment.
BENEFITS
Family protection
Policy serve as collateral facility
CAPITAL BUILDER PLAN:
The Custodian Capital Builder Plan is an investment product that allows the policyholder to determine the amount of regular contribution he wishes to periodically make. The policyholder is at liberty to select the level of life assurance benefit he wants.
FEATURES
Flexible maturity date
Minimum term of five years
Option to determine level of life assurance cover
BENEFITS
Tax advantages
Compulsory savings device
Waiver of premium benefit in the event of total disablement (optional)
ESUSU SHIELD PLAN:
Esusu shield uniquely combines features of Ajo, Esusu, Thrift and Mutual financing to meet the savings and financing needs, limited life assurance and personal accident benefits of policyholders
FEATURES
Life assurance and personal accident benefit
Interest rate of 2% above average Deposit Money Bank’s savings rate
Allows lump sum deposits
BENEFITS
Easy way of accumulating capital for short term projects
The investment grows at a higher rate than a normal savings account
Grants protection in addition to the accumulated fund.
EDUCATION ENDOWMENT:
The plan provides benefit for the payment of policyholder’s child’s school fees and other incidentals at any chosen level of his/her education – Primary, Secondary or Tertiary level. Through this arrangement; a parent can start to provide for the education of his child immediately, and so dispel all the worries of uncertainty and the strain of not being able to fund his child’s education in future. The policy guarantees the education of your child whether you are alive or otherwise to the tune of your sum assured..
FEATURES
Minimum duration of 5 years
Mode of premium payment can be monthly, quarterly, half yearly or annually
Option to select level of education to be covered
Maximum age at entry is 55 years
Option to choose an Additional Fatal Accident Benefit (AFAB) cover up to 100% at an extra premium
BENEFITS
The future education of the child is secured to the tune of the targeted amount
It qualifies for tax advantage
At maturity, the targeted amount is payable
Bonus declaration enhances the benefit
Policy loan facility exists
Collateral security
Systematic saving vehicle
DEFFERED ANNUITY:
This is an annuity policy taken by a proposer for the purpose of getting payments upon retirement or at some other specified future date. The annuity plan allows policy owners to save towards a deferred income. It is also an avenue for employees or self-employed individuals to regularly accumulate money during their active days to guarantee regular streams of income later in life.
Custodian deferred annuity provides for retirement age at 50, 55, 60, 65, 70 and 75.
There are two (2) phases for deferred annuity:
Accumulation Phase: this is the period the annuitant is regularly paying his premium. It is usually during the deferred period
Distribution (Pay Out) Phase: this is the period the annuitant receives regular monthly or quarterly annuity (payments) for the rest of his life or as specified by the policy
The commencement of annuity is deferred to a certain age. Premiums are payable during the deferred period (i.e. Accumulation phase). On attainment of that age premium payment stops and annuity payment commences.
KEY FEATURES
Income is payable for life
Annuity payment for the guaranteed period of 5 years and thereafter for life of the annuitant
Regular payment is by standing order and on an online, real times basis
Annuitants are assured of regular income for life
Annuity Escalating options at 5% and 10%
Additional death benefit which is 5 times the annual annuity (Optional)
Longevity risk
Provision of income for dependents
Investment risk is passed to the life office
