My Savings Plan - Premier

My Savings Plan – Premier is a product designed to help you plan to meet you long term savings needs. This product will help you save for future events in your life such as funding your children's education, help purchase a property or just provide the means to buy what you have always dreamed of.

My Savings – Premier has the dual benefit of helping you to save on a regular basis and offer protection to your family if some unfortunate event occurs while you hold the product.

Product Feature

  • Only you, the, policyholder will have protection during the term of the plan.
  • Various terms are available to select to meet your needs.
  • There is a 2.5% policy charge on each premium paid.
  • If your policy is kept active at maturity an additional amount of bonus is paid.
  • The investment return credited to the policyholder is based on a well researched investment strategy to help you achieve your savings needs.
  • A decrease in sum assured will happen in the first month in which you reduced the premium being paid.

 

  • The sum assured, which protects you is 50 times your monthly premium payable up to N5million.
  • Minimum sum assured is N1,000,000.
  • Maximum sum assured is N5,000,000.
  • If you increases your sum assured there will be a waiting period before any claim can be made.
  • Surrender and early withdrawal will be allowed but are subject to charges shown in the brochure.

Benefits

  • Maturity Benefit
    • The maturity benefit is the accumulated fund value paid at the end of the chosen term.
  • Death Benefit
    • The amount paid in the event of death is the sum assured plus the Premium Waiver.
  • Permanent Disability and Critical Illness
    • Your plan will pay out 50% of the sum assured in event of permanent disability or critical illness.
    • Alternatively, the premium waiver could be activated and premiums will be paid into the Fund by Prudential Zenith Life until the maturity date.
  • Premium Waiver
    • This benefit will pay the premiums into the Fund in the event of death or if selected for permanent disability and critical illness.
    • The amount of premium waiver paid e a c h m o n t h will be in the ratio of premiums paid to premiums due over the prior 12 month period times the regular monthly premium.