Capital Express


Product Description

Target Savings Plan is an investment arrangement through which funds can be accumulated for specific future needs while enjoying the benefits of a life assurance.
The funds are managed through a dedicated investment account into which allocated contributions and interest are credited.
The plan also provides you with additional life assurance cover based on the level of your annual contribution.

Key Features

  • A dedicated investment account is opened for each policyholder.
  • Allocations for investment and interests are credited into the account.
  • Life assurance cover is provided for the policyholder based on level of initial annual contribution.
  • Policy duration is between three and five years
  • Contribution/premium can be paid annually, half yearly, quarterly or monthly
  • Contributions can be increased within the policy term
  • Minimum contribution is GMD1,000 per month.
  • On death of life assured before maturity/target date the life cover plus the amount in the Investment Account become payable.
  • If regular contributions/Premiums are not paid as and when due; life cover ceases.
  • At the end of the investment period, the policyholder receives the total amount credited into his investment account plus interest as a lump sum.
  • Lump sum may be converted to annuity at the request of policyholder.

Policy Condition

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