Pioneer School Fees Policy

Product Summary

• The policy allows choice of any term between 10 and 18 years.
• The client receives 200% of the sum assured promised at inception.
• This product provides partial maturity benefits payable for 6 consecutive years before the maturity date.

Maturity Benefits – The policy pays six partial payments and a full maturity benefit as illustrated below.

The Maturity benefits are paid inclusive of the accrued reversionary bonuses.

Death benefits–In the event of death of the life assured:

• future premiums are waivered
• 50% of the sum assured is paid immediately
• 100% of sum assured is paid at maturity as initially agreed.

Optional riders

Personal Accident – The full personal accident sum assured will be payable.

Funeral Expense– on the death of the Life assured a funeral expense benefit is payable with 48 hrs. On receipt of death notification.

Permanent Total Disability (PTD) – On PTD:

• Future premiums are waivered
• Partial maturities and full maturity are paid as initially agreed.

Other features

Surrender Benefits – A policyholder may surrender their policy at any time from the third year but before the commencement of the it payments

Reversionary bonuses-Simple reversionary bonuses will be declared on the product as advised at the end of each actuarial valuation of the life fund. A policy must have been in force for at least one year in order to accrue the bonuses

Convenient premium payment Options: The premium paying period may vary from 10years to I8years and can be paid monthly, quarterly, semi-annually or annually. The longer the period the higher the return

Tax benefits– The policy holder is entitled to Tax exemption on the premium paid.