Britam Akiba Endowment Plan

What is the Britam Akiba Endowment Plan?

The Britam Akiba Plan is a product from Britam that provides you with a systematic savings vehicle to provide for a wide range of financial and goals while enjoying a guarantee.

The Britam Akiba Endowment Plan is appealing to individuals as it is designed to meet the needs of individuals who are saving towards meeting a short, medium and long term financial goal or obligation and would like to add life insurance protection to their saving plan.

Why do you need the Britam Akiba Endowment Plan?

We all have financial goals and obligations which are geared towards raising the quality of our lives. Such goals include education expenses or saving to acquire assets.

However, life is full of unpredictable risks which often happen at the most unexpected times damaging our long cherished plans. Thus, we really need an effective solution to rest assured that our financial goals definitely come true.

The Britam Akiba Plan helps you be sure of your savings of realizing short term, medium term or long term financial goals and obligations and at the same time provides a protection cover against death.

Key Features of the Britam Akiba Endowment Plan

• The minimum age of the life assured at inception is 18 years and the maximum age is 65 years. · The product has a guaranteed lump sum payable on maturity of the policy which is funded by regular premiums payable throughout the duration of the plan.

• The premiums are very affordable and are payable either monthly, quarterly, semi-annually or annually as you desire.
• The Product offers terms of between 5 and 12 years, which the proposer selects during policy inception. The maximum age on cover is 70 years.
• The product will have a “with medical underwriting option” and “without medical underwriting option”.
• The “without medical underwriting option” will have a maximum sum assured of Ksh 5 Million. The “with medical underwriting option” will not be subject to upper limit sum assured.

Key Benefits of the Britam Akiba Endowment Plan

The Britam Akiba Endowment Plan is a smart, simple and affordable saving plan with the following main benefits;

• Maturity Benefit; this is the principal benefit of this product. On the maturity date, the policyholder will receive a lumpsum equal to the sum assured of the policy.
• The Free Waiver of Premium Benefit; In the event of death of the life assured before maturity of the policy, the company will keep the policy in force up to the maturity date. This benefit therefore guarantees payment of the maturity benefit.
• Optional Lumpsum Death Cover; The cover has an optional death benefit rider, which pays the sum assured in the event of death of the assured life. The sum assured for the death rider is subject to a maximum equal to the sum assured for the main benefit.
• Surrender Benefits;  the surrender benefit is offered as a standard non-forfeiture provision and may be accessed from the end of 25th policy month.

 

Why should I take the Britam Akiba Endowment Plan?

The Britam Akiba Endowment Plan offers the following value to the policyholder;

• The product offers high savings returns; the product offers a higher return as compared to other average savings insurance products. The product offers the policyholder a return of up to 7%, which is higher than what typical savings insurance products return.
• The product has an option for lower policy terms; the minimum term is 5 years and the product can support terms of up to 12 years.
• The product Design is simple and easy to understand; this makes it easy for the potential policyholders to understand the structure of its benefits.
• he product allows for high entry ages up to age 65; the maximum entry age for most endowment products is currently set at 55 years.EligibilityYou are eligible to apply for the Britam Akiba Endowment Plan if you are between age 18 and 65 and a Kenyan citizen. You can apply by completing the Britam Akiba Endowment Plan application form for cover.

Illustration Of Cash Benefits

Date of birth:   30 yrs

Policy Term: 12 yrs

 Sum assured:   4,355,921.40

MATURITY CASH PAYOUT YEAR 2030        AMOUNT; 4,355,921.40

PREMIUM PER MONTH                               20,000

TOTAL PREMIUMS PAYABLE           2,880,000

TOTAL CASH BENEFIT PAYABLE    4,355,921.40

TOTAL RETURN TO THE CLIENT     1,475,921.4

TAX RELIEF   15% per month           2992.518

Tax Relief total savings 12 years         430 922.592     

NB – Please note that the above is for illustration of benefits only and is not a part of the policy contract.

(FROM THE ABOVE, LETS DO A SIMPLE ANAYLSIS OF THE PERCENTAGE GAIN YOU GET FROM IMARIKA,

ITS A PERCENTAGE TOTAL RETURN TO THE CLIENT DIVIDED BY TOTAL CONTRIBUTION = 1,475,921.4/2880000 =  0.5125*100

WHICH IS ACTUALLY A WHOLE 51% RETURN!

 

Get Started Today

Please contact Gallin Wekesa- Britam Financial Advisor on 0712-870-447 and gallywexa@gmail.com for more information and to sign up.