1. The policy comprises of two elements – life assurance cover and a saving plan. You decide at the outset how much you would like your named beneficiary to be paid in the event of your death (the sum assured) and how much you would like to save.
  2. Based on the sum assured and your savings goal, we calculate the premium, comprised of a life assurance and a savings portion.
  3. We pool your money with that of our other policyholders and invest it in a range of carefully chosen assets. If the investments perform well, you will share in the profits, via bonuses, which will be declared each year and reinvested on you behalf.
  4. Every five years, you will have the option of a cash pay-out. The amount payable will be equal to the savings portion of your premiums, plus investment interest earned over the policy term and minus administration fees.
  5. In the event of your death, your named beneficiary will receive the sum assured and any bonuses.