Money Back Extra Cash Policy
The Money Back Extra Cash Policy offers and attractive combination of life assurance and savings plan tailored to better meet your need.
This is also an endowment policy and they are of two types:
Money back extra cash 4 yrs
- It pays bonuses after every 4 yrs at 20% sum assured.
- Minimum term is 12yrs and Max is 24 yrs.
Money back extra cash 5yrs
- It pays Bonuses after every 5 yrs at 25% sum assured.
- Minimum term 10yrs and maximum is 25 yrs.
KEY BENEFITS
- Natural death
In case of natural death of the insured, the policy pays 100% of Sum Assured.
- Accidental Death
On the accidental Death of the insured within 90 days of such accident, the policy pays 200% of Sum assured.
- Accidental loss of one limb or eye through an accident
- Accidental loss of two limbs or eye through and accident
- Pays 50% of the sum assured.
- Pay bonuses when they fall due.
- Pay sum assured on maturity or on death
On 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 within 90 days of such an accident, the policy will
- Pay 100% of the sum assured.
- Waive all the premium
- Pay bonuses when they fall due.
- Pay sum assured on maturity or on death.
- Total and permanent incapacity due to an accident
- Savings
7. Cash Bonuses
8. Lien Cover
9. Tax Benefits
10. Loan facilities
- Pay 100% of the sum assured.
- Waive all the premium
- Pay bonuses when they fall due.
- Pay sum assured on maturity or on death.
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.
11. Premium Discount Benefits
Premium discount benefits of 10% offered to premium excess of ksh. 5,000 and 15% discount of premium of Ksh. 10,000 and More.
12. Funeral expense benefit
On the natural or accidental death of the insured, the policy has pays a funeral expense amount to the beneficiary (Minimum – Kshs. 20,000; and maximum of Kshs. 100,000)
How long do you need to save?
The Money Back Extra Cash policy allows you the flexibility to choose any term from 10years up to the maximum of 25 years depending on your need. The longer the duration, the higher the returns.
How often Do you pay?
You can choose to pay Monthly, Quarterly, Semi-annually or annually according to your preferences.
What if you need Money earlier?
Every four or five years, you are entitled to a cash bonus at a rate of 25% if you are on the 4- year cash back policy.) of the sum insured.
What happened when the policy ends?
You will receive the full amount of the sum insured plus bonus of 25% of the sum insured(20% if you are in 4- year cash back policy)
Can you take a loan on your policy?
As soon as my policy is three years old, you can take a policy loan from britam with your policy as the security.
For more on this investment policy plan, contact:-
Financial Advisor:Gallin Wekesa
Telephone: 0712870447
Email address: gallywexa@gmail.com.
do i get a tax waiver with this policy cash back policy?
yes peter. you get a tax waiver of 15% when paying premiums above 5000 per month. thank you.
after 3 years how much can you get as a loan and form of payment
loan ,
At the end of the policy, do you get the 100% sum assured plus the your savings over the period
No, you only get the sum assured plus the bonus ie 20% or 25% if 4 years and 5 years respectively.
What criteria is used to determine how much one can qualify for a policy loan
Francis, the policy must have been on force for at least 3 years.
The amount to be lend should not exceed 80% of the surrender value of the policy at the date of application for the Lord.
I hope your query is answered.
Thank you.
what if after one year your are unable to continue paying for this premium is the amount you had deposited refundable.
Maina,if you pay for one year and become unable to continue paying, the amount deposited is not refundable; its only refundable after 3 years(partial maturity) and above, however, you dont lose the deposits, you can continue with the policy later when able.
If my monthly premium is 4100 for 12 years,what’s the amount of bonus do I expect after the first four years
Hi Wekesa. I have the money back extra cash 5 yr policy that matures in 2022.The policy has been in force for 5 yrs. I would like to know what percentage of my total premium im entitled to if i cancel the policy and what are the associated costs for the cancellation
Hello I have apolcy money back exatra for 7yrs I want to cancel also my deposit is 280000k how much can be refund ,it was to mature 2030
Hello Mark. Call or text or whatsap 0712870447 i sort you out.
Hii am Lilian want to withdraw contributions to britam have been active for 4yrs with deposits of ksh 90000 will they refund me my savings and how much
Hello Lilian,
Thanks for connecting. What Is the reason for withdrawal?
My payslip really committed
Can I give you a call we discuss way forward. I will give you options. my number is 0712870447
It’s okey