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| This Product is intended to be a long-term contract and the cash values, especially in early years are frequently less than the total amount of premiums paid. |
PLANNING FOR THE FUTURE CAN BE EASY
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CORE BENEFITS |
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The Sagicor eZChoice plan is a flexible term plan with an optional investment component. The Term component offers two coverage options; 10 year Term or 20 year Term which provides for payment of the sum assured on the death of the Life Insured during the term of the plan. The Investment component is a flexible, interest sensitive component that will benefit from the Company’s prevailing rates of interest. You can decide on your level of coverage, and coverage is available in varying amounts to persons between
the ages of 18 to 55 years.
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PLAN OF INSURANCE |
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You have the flexibility of choosing between two term periods, 10 year Term or 20 year Term and one of the following sum assureds from the table below. Clients may increase their coverage by purchasing additional policies, however, the total sum assured across all policies cannot exceed the maximum sum assured for each territory. Maximum sum assured is; Trinidad and Tobago Dollars - TTD$200,000. Decreases are not available.
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| $TTD |
50,000 |
100,000 |
120,000 |
150,000 |
200,000 |
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DEATH BENEFIT |
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If the death of the Insured occurs during the first year of the policy and is not as a result of an accident, a benefit equal to premiums paid will be payable. Full sum assured is paid if accidental death occurs in the 1st year. If the death of the Insured occurs during the second policy year,
full sum assured is paid on accidental death and non-accidental death during the term from year 2 onwards.
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INVESTMENT COMPONENT |
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Should you choose this option you are allowed to make deposits to an interest-bearing fund. This provides options to use your money for your child’s tuition, emergency expenses or any other reason you may require. This component attracts a premium load fee of 1.5% on Scheduled Premiums and 1% on Unscheduled Premiums. The investment limits and charges are shown in the table below. Please note that No withdrawals are allowed in the first policy year.
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| Minimum Annual Premium for Savings |
TTD 720 |
| Minimum Unscheduled Savings Premium Per Deposit |
TTD 200 |
| Partial Surrender Administrative Charge |
TTD 60 |
| Minimum Withdrawal Amount |
TTD 250 |
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DISCONTINUANCE OF PREMIUM PAYMENTS |
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In the event the policyholder misses premium payments, the premium due on the term coverage can be met by the Savings Fund (if applicable).
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REINSTATEMENT |
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If the policy lapses due to non-payment of premium, an application for reinstatement can be made within a maximum of 12 months, after lapse, upon submission of and satisfactory evidence of the good health and insurability of the Insured as at the date thereof. All overdue premiums with interest must be paid at that time in order to receive a Certificate of Reinstatement. Only three (3) reinstatements are permitted.
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SELF-DESTRUCTION |
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If the Insured commits suicide or suffers capital punishment within 1 year of the date of issue or reinstatement of the policy, we will only pay a benefit equal to the amount of premiums paid without interest. This does not affect the applicability of any self-destruction clause included in respect of any other benefit.
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