SabiSavers Plan

Is a flexible product designed to allow policyholders to tailor the product to their own unique earning mode and savings needs.

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FEATURES

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product details

Live Cover

The product provides a compulsory member Life Cover benefit with an option to include other members at a cost. The cover available to the main life is N500,000 with an annual premium of N5,000.

Life cover is for whole Life, subject to the payment of the annual premium.

The table below shows the cover amount and other plan features for the Life cover:

LifeAssured

LifeCover

Max CoverPer Life(N)

Annual Premium (N)

Max numberof lives on the policy

Entry Age

Min Age

Max Age

Principal

Life

Compulsory

500,000

5,000

1

18

60

Assured

Spouse

Optional

500,000

5,000

1

18

60

Parents &

Parents-in-law

Optional

250,000

5,000

4

18

75

TotalLives

6

Savings Component
  • Choose any level of savings, subject to a minimum monthly savings of N5,000.
  • Make regular or irregular savings contributions as you wish; subject to the minimum monthly amount.
  • Savings will grow at a declared interest rate, which may be reviewed quarterly based on the interest environment.
  • The policyholder has access to funds after making contributions for a minimum of 6months
  • Policyholders are allowed to withdraw any amount up to the full value of the savings account balance after the minimum contributory period of 6months There are no penalties when savings are withdrawn.
Product Flexibility

The policyholder can make almost any changes to their policy at any time:

  • Has mandatory cover for the main life (subject to 3 months waiting period)
  • Can include optional cover for additional life, spouse etc. - (subject to the maximum of 6lives and a waiting period of 6months) Can remove cover for any life
  • Can amend the savings contribution at any time– increase or reduce
  • Can add, remove or amend the beneficiary of the policy
How To Pay Your Premium

Premium can be paid through the following channels:

Please include your name and policy number onall payments.

Do not pay cash to/through our Financial Advisor or staff.

How To Claim Your Benefit

Maturity Benefit:

  • Complete a maturity/liquidation form
  • Send the duly completed form to any of our sales outlet/office nearest to you, our head office or insuranceinfo@fbninsuance.com

In the event of the death of the policyholder, please take the following steps:

  • Lodge a formal request by walking into any of our outlets or by sending an email to insuranceinfo@fbninsurance.com
  • Submit copies of the following documents: (1) Last attending Doctor’s report (2) Death certificate from National Population Commission (3) Federal fioad Safety Corps report or Police report if death is as a result of accident (4) Valid ID card of beneficiaries (5)Policy Schedule or form (where applicable)
  • Additional documentation may be required
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