Crown Eagle Plans

Asset provides coverage under a High Protection component and a savings facility under the Inflation Fighter component. The High Protection component is a limited-payment term insurance with cash values at the policy’s anniversary following the Life Insured’s 65th birthday of 15 years after the issue date, whichever is later.

 

The Inflation Fighter is a savings component where regular deposits and lump sum payments can be made. The death benefit equals the sum assured plus the surrender value of the Inflation Fighter. The policy may be surrendered for the cash value, plus the total savings and accumulated interest on the Inflation Fighter component.

 

The Asset Investor is a single premium term for life insurance policy combined with a savings facility called the Inflation Fighter. The total premium payable consists of a basic single premium and an inflation fighter premium. The basic single premium is used to provide the basic sum assured. Any premium in excess of the basic single premium is inflation fighter premium. The cash value is the total inflation fighter deposits plus accumulated interest. The death benefit is the sum assured plus the cash value of the inflation fighter.

 

The Crown Instant Coverage is a limited payment term for life plan. It is issued without evidence of insurability. Premiums are payable for 20 years. The maximum sum assured on any one life is $50,000. If the Life Insured dies as a result of an accident, the full sum assured is payable, irrespective of the age of the policy. Otherwise, the death benefit is graded as follows:- 

 

Age of Policy Death Benefit

First 12 months Refund of all premiums

13-18 months 50% of sum assured

19-24 months 75% of sum assured

Over 24 months 100% of sum assured

 

This plan has no cash surrender values.

 

Policies on endowment plans provide for payment of the sum insured at the end of the endowment period if the insured is then living, or at death if it occurs early. Under Endowment at age 65, the endowment runs to the policy anniversary immediately preceding the insured’s 66th birthday. Twenty Payment Endowment at age 65 becomes fully paid-up at the end of twenty years.

 

This is a non-participating equity linked term product. Units are linked to the Crown Eagle Growth Fund. The basic benefit expires at age 21, at which time there is the option to convert to a permanent whole life or endowment.

 

This is a non-participating equity linked whole life product. Units are linked to the Crown Eagle Growth Fund. Benefits payable under this contract will not be guaranteed in monetary terms (with the exception of the Sum Insured) but will fluctuate with the market value of the assets in the Crown Eagle Growth Fund on which the values are based. 

 

The death benefit is the face amount plus value of units at death.

 

Smart is a 15 year term plan with an equity component linked to the Crown Eagle Growth Fund. The plan offers the option of renewing the coverage for an additional 15 year period. Total premiums paid consist of a basic premium and an equity premium. 

 

The maturity benefit is equal to the value of the units in the fund on the maturity date. The death benefit payable is the greater of the basic sum assured and the value of the units. The total surrender value is equal to the value of the units allocated to the policy less a total surrender charge.

 

This is a single premium term for life insurance policy combined with an equity component linked to the Crown Eagle Growth Fund.

 

The total premium payable consists of a basic single premium and an equity premium. The basic single premium is used to provide the basic sum assured. Any premium in excess of the basic single premium is equity premium. The death benefit payable is equal to the sum insured plus the value of the units attaching at the date of death.

 

The total cash value is equal to the value of the units.

 

These policies provide for payment of the sum insured on the death of the life insured if death occurs within the term period. Term policies with a term period of fifteen years or less, expiring before age 66 and all Renewable Term policies, do not contain any cash values or other non-forfeiture values. Term policies with a term period of more than fifteen years or expiring after age 65 contain cash values and extended term insurance values at certain durations and ages.