Cash Back Plan

Cash Back Plan

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By choosing the Savings plan, You have the means to pay for the things that you desire

We don’t want our family to undergo any form of suffering or hardship in whatever circumstances, after all, they are one of the reasons we work hard day and night.

The Cash-back Term Assurance Plan is an affordable financial security for you and your loved ones. It pays out a lump sum in the event of unfortunate circumstance, helping your family reduce their financial burden. At the same time, if you survive the policy term, 25% of the payments (premiums) for the plan will be returned to you at maturity.

The plan is for a defined period, with a minimum duration of two (2) years and a maximum of five (5) years. It provides a Pay-As-You-Go protection that is affordable.

Benefits

We will pay:

  1. A tax-free lump sum if something happens to you during the contract period
  2. 25% of the amount you paid at its maturity, when you survive the policy.
  3. You can lower your tax because your premium (payment) for life insurance is tax deductible
How it will work

• You must be aged 18 to enter into the Cash-back Term Assurance policy contract and must not be older than 65 at maturity.

• The minimum protected amount (sum assured) that you can have is N500,000, while the maximum is N5million

• You pay one-off upfront (single lump sum) or on a regular basis that suits you: Monthly, Quarterly, Half yearly, or Yearly

• You will not have access to any of the premiums you have made during the period of the contract. However, at maturity, 25% of your premium will be returned to you.

• If you don’t pay your premium within thirty days after it is due, your policy contract will lapse. This means that you will no longer have protection.

Make the right insurance decision.

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