Best Saving Policies
1.
Hakika
saving Plans:
We all have goals in our lives and sometime we are
held back from achieving these goals due to financial constraints. With Hakika
Saving plan, you need not hold back your dreams.
Hakika is a saving product designed to enable you
meet your life aspirations that have financial cost. With your goal in mind,
Hakika offers flexible and easy payments installments to enable you accumulate
funds over a period of time. The funds so accumulated can be used as down
payment for house purchase deposit, to pay for your dream wedding, finance your
dream holiday, finance your dream MBA or any other advanced degree or course,
provide funds to start a business, finance the purchase of your first car or
any other aspirations that you have in life.
How
does Hakika work?
Visualize your aspiration, for example having down
payment for the mortgage of your dream house, owning your dream car or anything
you want to achieve in life. Estimate how much you need to achieve your
aspiration and let Hakika show you how much you need to put either monthly,
quarterly, semi-annually, annually or even in one single lump sum; in order to
achieve that dream/ or goal. Alternatively,
you can tell us how much you can commit financially today in order to achieve
your future aspirations and let Hakika show how far this will take you.
What
you should know when considering Hakika as your policy saving plan
What
is the Hakika Plan?
Hakika is a saving plan from UAP life that offers a
tax free guaranteed lump sum benefit at the maturity of the contract. It is
intended to provide a vehicle for clients to save in a disciplined manner over
a period ranging between 5 to 43 years in order to accumulate sufficient fund
to enable them achieve life aspirations.
Are
the benefits guaranteed?
Yes, the Hakika Plan offers guaranteed benefits at
policy maturity provided that the premiums are paid as required by the policy
owner.
When
can I first access the benefits under Hakika?
You can only access any benefit under Hakika after
the policy has acquired a cash value. Hakika acquires cash value (surrender
value) after the policy has been in force for two (2) complete years. No
termination benefit is available before the end of two years.
Can
I secure a loan from UAP Life on the security of Hakika?
Yes. You can apply for a loan from UAP life on the
security of the Cash Value of Hakika. Hakika acquires cash value after two
complete years, which means that you can only access a loan on this policy after
it has been force for two complete years.
What
happens in case I cannot continue paying my premium? These things can happen:
1.
If your policy has been in force for
less than two (2) complete years. It lapses due to nonpayment of premium and
you lose all the benefits under the policy.
2.
If your policy has been in force for two
(2) or more years, it can be converted into paid up policy for reduced benefit
payable at maturity.
3.
If the policy has been in force for two
(2) years or more years, it can be surrender (terminated) and the cash value at
that point in time paid out.
4.
You can obtain a premium loan against
the cash value of the policy in order to meet the outstanding premiums and
continue with the contract. The loan is limited to the cash value of the policy.
What
are the extra charges on the policy?
There are no additional administrative charges
levied on the Hakika Plan.
What
is the rate of interest on my contributions
The rate of interest varies depending on the period
of the plan.
How
frequently can I make contributions
You can choose to pay monthly, quarterly,
semi-annually or annually. You may also choose to pay the premium as a single
lump sum at the inception of the plan.
What
happens when my policy matures
Hakika pays you the guaranteed amount indicated in
your policy Schedule Plus possible additional bonus.
Can
I reinvest the lump sum benefit received from Hakika?
Yes you can on application to UAP Life.
Who
is eligible to save with the Hakika plan?
Any person between the ages of 18 and 60 years is
eligible to up Hakika Plan.
Confession
from previous customer
“We
didn’t have much money when we started planning for our dream wedding. But we
knew that through sheer commitment and diligent saving inspired by love, the
sky was the limit. We took the first step towards achieving our goal. The fond
memories of our wedding bring happiness to our home. Thanks to the Hakika
Plan”.
UAP Elimika Education Plan is designed to the dream
of your child a reality. It provides a perfect vehicle, accumulate and use your
asset to fund the higher education of your child. The product further ensures
that your vision for your child’s education is not compromised in the
unexpected of death or permanent disability by making future premium payments
on your behalf and paying the selected school fees amount at the appointed
time.
Key
Benefits of the Elimika Education Plan
1.
Maturity
School Fess Benefit
Subject to the policy being in force, the UAP
Elimika Education Plan provides guaranteed periodic payments to the policy
owner after policy maturity. Once your policy matures, UAP starts paying the
selected school fees amounts to you as per the frequency and duration chosen at
policy inception.
2.
Policy
Loan Benefit
Policy owners can access loan up to 50% of the
policy cash value. The benefit is available only after the policy has been in
force for a minimum period of two (2) continuous years. The policy is repayable
at an interest rate advised by the company from the time to time.
3.
Benefits
on death of policy owner(Guardian/parent)
1.
Waiver
of premium
In the unfortunate event of death, UAP will pay all
future premiums due to keep the policy active and subsequently pay all the
selected school fees at the appointed time and as per the frequency selected.
2.
Life
cover benefit
When this additional benefit is selected at policy
inception, a lump sum benefit is paid to your beneficiary in case of unlikely
and early death of the policy owner during the currency of the policy.
3.
Benefits
on disability of policy owner(Guardian/parent)
1.
Waiver
of premium
If the policy owner is rendered disabled before
maturity of policy, UAP will continue paying premiums till end of policy term and
subsequently pay the selected school fees amounts at the appointed time and as
per the selected frequency.
2.
Cash
value
This policy acquires a cash value after 2 years of
premium payments from date of policy commencement. Cash benefits shall only be
payable if the policyholder has paid regular premiums for a minimum period of 2
continuous years. This is the value upon which loan available to the policy
owner is also calculated.
3.
Investpac
Plan
Investpac is designed to provide you with the
flexibility to decide your desired mix of investment premium and life cover.
You can decide to have a bigger portion of premium going to life cover and a
smaller portion going into investment or more premium for investment and less
for life cover whichever suits your requirement. You can participate in tailor
making product to suit your requirements.
It is a unit-linked endowment product with both
investment and life cover. Premium can be paid monthly, quarterly, half yearly
or annually. It has been designed as universal product where risk premiums are
deducted before allocation of premium to the unit account. It can also be taken
as pure savings plan with no life cover benefits attached to the policy. It
acquires cash benefits after a period of two (2) years. Its premiums are
calculated ranging terms of 5 to 25 years.
Benefits
of Investpac
It allows policyholders
to benefit from the upside of the investment performance of the fund .It is flexibility
– allows policyholders to select how much of their money go into investment and
how much goes into purchasing protection, it has charging structure is very
transparent, it is ideal for accumulating long terms funds for future use and there
is also 15% of premiums paid are tax exempt and benefits are also tax exempt
NB:
All policies’ risks benefits must cease no later than the policy holder’s 75th
birthday with exception of critical illness and waiver of premium on disability
expiring at age of 65. However policyholders can continue contributing to their
savings beyond their 75th birthday. If this is done the only benefit
to the policyholder at 75 will be the sum assured.
Other
benefits
The policy owner can withdraw 20% of the
unit account value after the policy has been in force for three continuous
years and after every five years. The withdrawal will be subject to withdrawal
fee of 2% or any other rate as advised by the company from time to time. The
withdrawn amount will reduce of the unit account value available for payment
later.
Optional
benefits
Policy owner can select the following
rider benefits
1.
Accidental death benefit where the
double sum assured is paid to the named beneficiary in case of death due to
accident.
2.
Critical illness benefit- an accelerated
benefit is payable to the policy owner on contraction of specified critical
illness. Payment of this benefit reduces the sum assured.
3.
Waiver of the premium on death
disability.
How
it works
Select the amount you
want to pay and for how long you want to pay. Select how much life insurance
you want and the amount you want to go into investment account. Choose the
payment mode that suits you. We shall then indicate to you the projected values
of your fund based on assumed future rates, these may vary depending on actual
return.
What
makes investpac different?
Higher
allocation percentage into investment, account than competition – 95% allocation.
It has transparent charging structure, professionally managed fund, history of
delivery, guaranteed life cover benefit payment alongside unit account value
payment.
You too can achieve that your big dream do not
forget about it because of your financial constraints, with a plan you will
achieve it. Talk to me (us) via e-mail paulodhiamboongoro@gmail.com
, call 0764981664, sms 0771981664 so that we can discuss more about the
products outlined and others which you might like.
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