Smart Saver Investment Plan

WHO IS ELIGIBLE FOR COVER?

• Preferred and Private account holders
• Minimum 18 years, maximum 60 years age next birthday for policyholder

POLICY BENEFITS

• Death Benefit – The policy pays the selected Sum Assured and value of the Investment Fund to the Beneficiary or appointed Administrator to Your estate. The policy automatically terminates in the event of passing on of the policyholder
• Accidental Double Death Benefit – Double the selected Sum Assured and value of the Investment Fund becomes payable to the Beneficiary or appointed administrator of the estate of the policyholder. The policy automatically terminates in the event that the policyholder dies.
• Investment Fund – On the maturity date, the accumulated value of the Savings contribution becomes payable to the policyholder. The Savings contribution value is accumulated from savings made during the term, less any encashments made by the policyholder
• Maturity Bonus – 1 % interest is paid for each year the policy has been in-force for policy terms of 7 years and above.
• Waiver of Premiums – the insurer waves payment of premiums in the event of death, permanent disability or critical illness of the policyholder

POLICY CONDITIONS

• Minimum term 5 years, Maximum 30
• Lapsation – policy lapses if premiums are not paid for 3 months consecutively
• Policy Reinstatement – policy can be reinstated within 12 months of policy lapse provided all outstanding premiums are paid
• Cancellation (i.e. surrender value is paid as follows);
  • Year 1 = no surrender value payable
  • Year 2 = 50% of premiums refunded
  • Year 3 = 75% of premiums refunded
  • Year 4+ = 90 % of premiums refunded

Please refer to detailed policy terms and conditions for the full list of policy terms and conditions     

REQUIREMENTS BEFORE COVER IS CONFIRMED

• Customer should have a Zanaco bank account
• Customer should complete proposal form
• Customer should provide copy of ID (i.e. NRC, valid drivers licence or passport)