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DHAMANA
WHAT IS DHAMANA?
This is a 15 yr Endowment with guaranteed cash bonus. It is an Endowment Life Insurance policy which in addition to the benefits outlined below offers attractive guaranteed bonuses of 20% of the sum assured for 11 years starting from 5th year up to the 15th year. The policy plan is strictly for 15 years.
The bonuses amounting to 220% of the sum assured are accumulated and are payable at the end of the term.
On maturity (after15 years) the sum Assured plus the Accumulated bonuses is paid in full i.e. 320% of Sum Assured is paid.
Example: ______ years ANB
Sum Assured KShs. ____________
Term ______ Years
Premiums-Ks_________________________
20% Bonuses Accumulated for 11 years (220%) KShs. _______________________
Maturity – 100% _Kshs ______________________________
TOTAL PAID ON MATURITY (320%)_Kshs __________________________
TOTAL PREMIUM CONTRIBUTION (Less tax relief) _Kshs _________________________
_______________________________________________________________________________________
HOW CAN DHAMANA BENEFIT YOU AND YOUR FAMILY?
- Guaranteed bonuses of 220% plus Maturity value of 100%. Total 320%_________________
- Natural Death – In the event of natural death of the insured, the policy pays 100% of Sum Assured.
Pay Principal sum – Shs. ___________________________________
Plus Accrued Bonuses after 5th year
Policy contact ceases
- Accidental Death – In the event of accidental death of the insured within 90 days of such an accident, the policy pays 200% of Sum Assured.
Principal sum x 2 Shs. __________________________________
Plus Accrued Bonuses after 5th year
Policy contact ceases
- Accidental loss of one limb or eye through an accident – On the accidental and permanent loss of one hand or one foot by severance at or above the wrist or ankle or the permanent loss of the sight of one eye, within 90 days of such an accident, the policy will:
– Pay 50% of sum assured – Shs. _________________
– Pay sum assured on maturity or on death PLUS Accumulated bonuses
- Accidental loss of two limbs or eyes through an accident – On the accident and permanent loss of both hands or both feet or one hand and one foot by severance at or above the wrist or ankle or the permanent loss of the sight of both eyes, within 90 days of such an accident, the policy will:
– Pay 100% of Sum Assured Shs. _________________
– Pay Sum Assured on maturity or on death PLUS Accumulated bonuses
NB- The Accidental benefits are only available until the insured’s age 65years.
Other Benefits
- Loan Facility
After the policy has been in force for at least 3 years and is paid up to date, you can apply for a policy loan.
- Tax Relief
The non forfeiture options after 3 years are available.
INCASE YOU DO NOT GO FOR MEDICAL EXAMINATION (NON – MEDICAL OPTION)
For Dhamana without medical there is a one year waiting period.
If natural death occurs within this period all cumulative premiums are paid back to the insured.
If the death is due to an accidental cause the waiting period shall not apply and 200% of the sum assured shall be paid.
After the one year waiting period the policy shall get all benefits similar to the medical underwriting.
Life Proposed _______________ Monthly Premium__________
Quarterly ________________________
Semi-annually ____________________
Date of Birth ______________ Age ____ Annual Premium __________________
Sales Representative ________________________________________________________
Agency/Branch _________________________ Telephone __________________________
NB – Please note that the above is for illustration of benefits only and is not a part of the policy contract.
WORKED EXAMPLE FOR ILLUSTRATION:
Example: Age: 40 years ANB
Sum Assured Kshs: 1 Million
Endowment period: 15Years
Premiums-Kshs14,636.50
20% Bonuses accumulated for 11 years (220%) = Kshs. 2,200,000
Maturity – 100% = Kshs 1,000,000
TOTAL PAID ON MATURITY = (320%) Kshs 3,200,000
TOTAL PREMIUM CONTRIBUTION = Kshs 2,634,570
TOTAL RETURN TO THE CLIENT Kshs 565,430
TAX RELIEF 15% PER MONTH Kshs 2195.475
Tax Relief total savings 15 years Kshs 395 185.5
Time to get VALUE!
For more details contact:-
FINANCIAL ADVISOR: Gallin Wekesa
0712-870-447; gallywexa@gmail.com.
(Whatsap Direct https://wa.me/254712870447)
What would someone need to pay monthly to get a total of 10m or more paid off after the 15yrs.
Or better yet, what plan do you have that gives the savings options for a long time i.e 15 years and above but without paying bonuses. The total should be paid said at the maturity of the policy.
Check mail Anne.