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Sunday, June 25, 2017

Christmas Bonus

A unique plan, which gives guaranteed income every year for Christmas Celebration at the rate of 2.5% of the Sum Assured.

Salient Features:

  • Annual Christmas Bonus of 2.5% of the Sum Assured payable on 15th December every year till death even after the policy matures.
  • On completion of policy term i.e. on maturity – 50% of the Sum Assured is payable.
  • After maturity the policy will continue as a free paid-up policy for 50% of the Sum Assured payable only on death.
  • On death of the assured during the policy term (i.e. before policy matures) the full sum assured will become payable. There will be no deduction for the annual Christmas bonuses paid every year from the death benefit.

EXAMPLE OF BENEFITS

Suppose a man aged 32 years takes a policy for 25 years for KShs. 100,000/- then Christmas Bonus at the rate of 2.5% of the Sum Assured i.e. KShs. 2,500/= per annum is payable on 15th of December every year till death of the Assured. The first Christmas Bonus will be payable only if a period of 6 months has elapsed from the date of first premium receipt, provided the policy is in full force.

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