Quick insurance proccess
Talk to an expert
0700 700 0400
ValuePlus Plan
The ValuePlus plan is an anticipated endowment plan that pays out benefits at one-third (1/3) of the policy term, two-third (2/3) of the policy term and at the end of the policy term. The ratios for the payouts at the 1/3, 2/3 and end of the policy terms are 30%, 30% and 100% of the sum assured. The final benefit at the end of the policy term is payable along with the cumulative annual accrued bonus of 3% simple interest of the sum assured.
- The product is available at policy durations of 6, 9, 12 and 15 years only.
- The maximum age at entry is 64 years and the maximum age at maturity is 70 years.
- The maximum policy term that can be chosen will be limited to the maximum age at maturity.
- The minimum sum assured is N1,000,000 and there is no maximum limit.
- The plan includes a guaranteed simple bonus of 3% pa, which begins to accrue from the second year of the policy.
- A 30-day grace period applies (or 14 days for monthly premiums). In the event of lapse followed by death, a prorated paid-up value will be payable, net of any cash benefits already received provided the policy is in-force.
- The policy may be surrendered after 24 consecutive payments subject to applicable surrender charges.
- Available policy terms are 6, 9, 12 and 15 years.
Benefits
- Death Benefit:
- In the event of death before maturity, the sum assured together with the accrued bonuses become payable to the beneficiary or the legal representative of the policyholder.
- Maturity / Survival Benefit:Provided the policy terms are met, policyholders will receive the periodic payments of: 30% of the sum assured payable at the end of one-third of the policy term. 30% of the sum assured payable at the end of two-third of the policy term. 100% of the sum assured plus accrued bonuses payable at the maturity of policy term.
- Surrender / Paid-Up Benefit: Not applicable.
- Age Next Birthday of the Life Assured
- Sum Assured selected by the policyholder
- Premium Payment Frequency(monthly, quarterly, semi-annual or annually)
- Duration of the proposed policy.
- Premium Payment Term: Payable up to age 70years.
- Medical Underwriting(where sums assured is above 50 million)
Get ValuePlus Plan Now!
Call
0700 700 0400
Send email
info@chilife.ng
Corporate Head Office
Plot 33D Bishop Aboyade Cole Street, Victoria Island, Lagos
