NSIA Savings Plan
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Eligible ages:
-
Minimum Age: 18 Years
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Maximum Age: 60 Years
NSIA Savings Plan
NSIA savings plan offers prospective policyholders a vehicle through which they can accumulate fund to meet future needs. This product is managed through a dedicated investment account into which policyholder’s contributions and attractive interest are credited. This policy also offers a life insurance policy as an attending feature which affords the beneficiary of a policy holder to be paid a certain guaranteed sum in the event of death of the policy holder.
? Key Features
▣ Policy Duration is three (3) years.
Minimum contribution per month is N5,000.00
▣ The minimum sum assured is =N=100,000.00 whist the maximum sum assured is = N10,000,000.00
▣ Minimum age at entry is 18 years whist the maximum age at entry is 60 years.
▣ The modal contribution less the cost of insurance is invested in the policyholder’s fund.
▣ Attractive interest is daily credited
▣ Waiting period is one month, if death occurs within this period, only the account balance will be paid and the policy ceases.
▣ The life cover on the policy lapses when premium is not paid after due date.
? Benefit
Maturity Benefit
At the end of the policy term, the policyholder receives account value of investment.
On Death Benefit
The chosen sum in addition to the accumulated fund value is paid in the event of death of the policyholder during the policy term.
Permanent Disability Cover –Optional Benefit
The chosen sum assured in addition to the accumulated fund value becomes payable where the policyholder suffered a permanent disability.
Surrender Value Benefit
| Duration | Surrender Charge (% of accumulated interest) |
|---|---|
| 1 | 100% |
| 2 | 50% |
| 3 | 0% |
