Determine the amount of your savings and benefit from regular returns throughout the term.
The SavingsPlus Plan is designed to support disciplined savings and ensure steady returns throughout the policy duration (minimum of 3years). The plan will accelerate the growth in your savings and help you build a lumpsum (Maturity Value) that will be required to address your savings target while also providing you free insurance coverage of NGN1million to take care of your loved ones in case of an unfortunate event (death and total permanent disability).
Death and Total Permanent Disability Benefit
If the policyholder dies during the plan duration or becomes totally and permanently disabled (resulting from accident only), the plan will pay to the beneficiaries the:
Additional Life Cover (Term Assurance Rider – Optional)
If chosen, the benefit amount will be paid alongside the benefits above in the event that the policyholder dies or becomes totally and permanently disabled.
Policyholder may elect to surrender their policy for cash. To qualify for surrender benefits, the policy must be in force with all premiums paid, for a minimum period of 12months.
The table below shows the surrender benefits payable when policyholder elect to surrender their policy:
Payment to Customer
Up to 6months
10% of contributions
90% of contributions made to date
Greater than 6month to 12month
100% of contribution
Greater than 12month to 24month
50% of accrued interest
100% contribution plus 50% of accrued interest
Greater than 24month but less than 36month
25% of accrued interest
100% contribution plus 75% of accrued interest
36 month and above
100% contribution plus 100% of accrued interest
Guaranteed Returns to Policyholder
The interest rate promised to policyholders is as shown in the table below:
1.5% per annum
2.5% per annum
The interest will be reviewed every quarter and communicated to the policyholders.
The contribution amount will be chosen by the client at inception subject to a minimum monthly premium of NGN20,000. However, customers may elect to increase the regular savings contribution at any point. This will not change the sum at risk (Free Life Cover of NGN1million).
The plan duration is a minimum of 3years.
Premium payment can be made monthly, quarterly, half- yearly, yearly and single payment (one-off)
Complete a Maturity/liquidation form
Send the duly completed form to any of our sales outlet/office nearest to you, our head office or email@example.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 firstname.lastname@example.orgSubmit copies of the following documents:
Additional documentation may be required
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