Needs covered by the product

  • To provide fund or money for comfortable retirement life.
  • To provide financial protection to the immediate family in case of premature death.
  • To provide fund or money when a policyholder falls terminally ill.


Profile of target clients

  • Any one meeting any of the following criteria:
  • With regular income from employment where there is no pension arranged by the employer.
  • Wants to save money over one’s working life time to build up pension on retirement.
  • Has spouse and/or children.
  • Aged 20 to 50 years


Term of Policy

  • Minimum is 10 years

There is no surrender value before ten (10) years.


Retirement Benefit

When a policy holder attains the age of 55 before the policy matures and at least two years premiums have been paid a member can retire with reduced benefits. Furthermore a policy holder can also retire on ill health grounds as long as the necessary documentary medical evidence is produced.

Disability Benefit

The full Accumulated Savings Account is payable in the event of disability, a claimant shall be considered disabled if, in the opinion of the Company, based on substantive evidence, illness or injury has rendered the claimant incapacitated from his/her own or suitable occupation for which he/she is or could reasonably be suited, taking into account the degree of disability and his/her knowledge, training, education, ability and experience.


Rider Benefits

Death Benefit Rider (Compulsory)

  • This product offers a compulsory death benefit rider. The rider provides a lump sum payment on the death of the policyholder at any time from the commencement until the retirement date.
  • The premiums and benefits under the rider are not subject to annual


Compulsory Automatic Premium Increase (Compulsory in first 5 years)

Premiums are selected at the outset at the point of sale with a fixed compulsory escalation factor i.e. Automatic Premium Increase (API) of 10% pa, 15% pa or 20% pa which will apply throughout the policy term but can be terminated after five years form commencement.

Premium paying methods

  • Cash (available only on quarterly, half-yearly and yearly basis)
  • Stop order (cheque through employers or direct transfer)
  • Direct Debit and Credit Control (DDACC) payment through the bank account
  • Electronic funds transfer
  • A policy fee of K10.00 per month will be applied on each policy.