Accumulator Plus
The Accumulator Plus (Non-participating) is a limited-payment whole life plan with premium payments usually ceasing on the policy’s anniversary preceding the 65th birthday of the Life Insured.
The death benefit is the sum of the basic sum assured plus the current cash value.
Cash values are interest-sensitive. During the first year, the cash value is Zero. For the second to fifth policy years, 85% of the basic premium (excluding policy fee) is allocated to the policy’s cash value. For the sixth and subsequent policy years, 92 ½% of the basic premium is allocated to the cash value.
At age 65, the following options are available to the Life Insured:-
The policy may be continued in force by premium payments. In such cases, 95% of the basic premium (excluding policy fee) will be invested by the company.
Premium payments may be discontinued and the current cash value left with the company to accumulate
Premium payments may be discontinued and the current cash value taken.
Accumulator Plus Single Premium
This policy provides coverage for life but is paid for with a single premium.
The plan provides very attractive guaranteed returns and may be surrendered at any time for its cash value. In addition, the plan has an immediate cash value as well as a loan value of 72% of the total purchase price less policy fee and stamp duty.
The death benefit is guaranteed. It increases each year for as long as the policy is in force. In addition to the guaranteed death benefit any bonuses accrued are payable less any outstanding loans (encumberances)
Blue Chip Endowment
The Blue Chip Endowment policy is made up of an Endowment Without Profits basic benefit plus additional premiums to purchase units. The benefit on death or maturity is the basic sum assured plus the value of the units purchased.
The Single-Equity variation has an additional premium to purchase units equal to one half of the basic premium (excluding policy fee).
The Double-Equity variation has an additional premium to purchase units equal to the amount of the basic premium (excluding policy fee).
The Equity premium is allocated to purchase units as follows for both Single and Double equity variations:-
Year 1 - 50%
Year 2 onward - 100%
Blue Chip Pension Bond
The Blue Chip Pension Bond policy is identical to the Blue Chip Endowment except that the basic benefit is a Pension Bond. Cash surrender values are guaranteed.
Blue Chip Term
The Blue Chip Term is a 10 year reducing term plan which is linked to the Blue Chip Fund. The initial sum assured equals the total basic premium (excluding policy fee) payable throughout the term of the policy. The death benefit equals the total basic premium remaining to be paid (excluding policy fee) had the Life Insured survived to the maturity date plus the value of any units attaching to the policy.
The cash surrender value is the surrender value of the units in the Blue Chip Fund attaching to the policy. The cash surrender value is 95% of the value in the fund if the Life Insured is under age 65, and 97 1/2 % otherwise.
Blue Chip Whole Life
This is a Whole Life Plan with premiums payable to age 85. The premium payable includes an equity premium, which is used to purchase units in the Blue Chip Fund. The death benefit is the sum assured plus the value of the units in the Blue Chip Fund. In addition to the equity fund attaching to the policy, the plan also has guaranteed cash values.
