Health Retirement Plan

Our Health retirement Plan is a savings plan with the main aim of providing for health care after retirement. It also provides protection against the risk of the policy holder contracting a named critical illness.

Product Feature

  • It provides for health care after retirement.
  • It provides protection against the risk of death of policyholder or contracting a named Critical Illness (optional).
  • The contract is sold on an individual basis only.
  • The policy runs up to retirement or earlier death/diagnosis of a named critical illness.
  • The maximum age at entry is currently fixed at 50 years with optional retirement ages at 55, 60 or 65.
  • The minimum premium is N 20,000 per month.
  • Flexibility in premium payment monthly, quarterly, half yearly or annually.

 

  • At death before the chosen maturity date, the guaranteed sum assured together with the account balance at the point of death becomes payable.
  • In the event of the policyholder contracting a named Critical Illness before the chosen maturity date, the guaranteed sum assured together with the account balance at the point of diagnosis becomes payable.
  • Life and Critical Illness cover has a pre-claim waiting period of 6 months. This applies only in the first policy year.
  • There is surrender benefit.

Benefits

  • 24 hours life assurance protection for policyholder.
  • It is a source of emergency fund.
  • Cushion the effect of medical expenses on the policyholder at retirement.
  • To relieve the family of financial commitments associated critical illnesses.
  • Improved longevity because of the attendant peace of mind enjoyed by the policyholder.