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Special Endowment Plan

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Our Special Endowment Policy can be used as a savings plan. It is of special interest to persons who, besides desiring to provide for their own old age and family, feel the need for lump sum payment at periodical intervals.

Types of plans under Special Endowment Policy.

Plan A - 15 Years Term

  • Minimum age of entry is 18 years old.
  • Maximum age of entry is 48 years old.
  • Minimum sum assured is SR 50,000.

During the course of the term of the policy, the policy owner will receive the following:

  • Year 5-25% of sum assured
  • Year 15-25% of sum assured
  • Year 15-50% of sum assured plus bonuses

Plan B - 20 Years Term

  • Minimum age of entry is 18 years old.
  • Maximum age of entry is 43 years old.
  • Minimum sum assured is SR 50, 000.

The following survival payments are made during the policy term:

  • Year 5-15% of the sum assured
  • Year 10-15% of the sum assured
  • Year 15-20% of the sum assured
  • Remaining 50% of the sum assured payable at the end of the 20 years term with bonuses.

Plan C - 20 Years Term

  • Minimum age of entry is 18 years old.
  • Maximum age of entry is 43 years old.
  • Minimum sum assured is SR 50, 000.

During the course of the term of the policy, the policy owner will receive the following:

  • 10% of the sum assured payable on the life assured’s 10 years.
  • Year 15-15% of the sum assured
  • 100% of sum assured plus bonuses payable at the end of the 20 years term.

Premiums under all three plans can be paid on a monthly, quarterly, half yearly or yearly basis.

 

Death or Disability of the Life Assured

In the event of death at any time within the policy term, the full sum assured will be paid regardless if any deductions or adjustments that have been made to the policy earlier.

Under our Special Endowment plans, we also provide cover for Total and Permanent Disability.