Capital Express

CAPEX SAVERS PLUS

Product Description

Capex Savers Plus is an investment arrangement through which funds can be accumulated for targeted and specific future event while enjoying benefits of a life assurance.
The funds are managed through a dedicated investment account into which full contributions paid and interests are credited. The plan also provides you with a separate life assurance cover based on your budget with minimum life cover of GMD10, 000 and maximum GMD200,000.
Premiums for life assurance cover are paid separately as single premium at inception of the policy or annually at renewal period of the policy.

Key Features

A dedicated investment account is opened for each policyholder

  • Full contributions paid and interest are credited into the account.
  • Life assurance cover is provided separately for the policyholders based on his/her affordability.
  • Life assurance cover is between a sum assured of GMD10,000 and GMD200,000.
  • Contributions can be increased within the policy term.
  • Minimum contribution is GMD1,000 per month.
  • Premium is 1% of the chosen sum assured per annul. Equivalent could be paid as single premium at inception or annually at renewal periods of the policy. There is an option of single payment of premium.
  • Policy duration is three years but there are surrender options.
  • Contributions/premium into investment account can be paid annually, half yearly, quarterly or monthly. Single payment of contribution is allowed.
  • Contributions can be increased within the policy term.

Benefits

LIFE ASSURANCE COVER
The policy provides a life cover of an amount up to two hundred Dalasis.

INTEREST ON INVESTMENT ACCOUNT
Guaranteed minimum interest payable on investment account of policy holder is 2.5% per annual.

WITHDRAWAL CHARGES
If the policy is surrendered before the third year from commencement date, withdrawal charges are levied on accrued interests only. No withdrawal charge is levied on all contributions credited into investment account of the policyholder.

POLICY CONDITIONS

  1. If the policy is surrendered before the third year from commencement date, withdrawal charges are levied on accrued interests only. No withdrawal charge is level on all allocations credited into investment account of policyholder.
  2. If regular contributions/Premiums are not paid as and at when due; life cover ceases