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.
- 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.
- 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.