Prime Investor
Prime Investor is an equity-linked whole life policy. The death benefit is the sum of the basic sum insured and the value of the units. The unit allocation is respect of the basic annual premiums is as follows, for all ages:-
First year 50%
Second year 50%
Thereafter 85%
The allocation in respect of investment premium is 95%.
Moneys are invested in Real Estate, Equity Fund, Money Market Fund and Stabilization Fund in an agreed combination.
Prime LifeSaver
The Prime LifeSaver policy is a Universal Life Policy with the death benefit being the basic sum insured together with the value of units.
Prime Protector
The Prime Protector plan is a guaranteed whole life insurance policy with premiums payable for twenty years or until the 75th birthday of the policyholder, whichever comes first. On the death of the insured within six months of issue or reinstatement, the premiums paid are refunded. On death within six and twelve months, 25% of the sum insured is paid. On death between one and two years, 50% of the sum insured is payable. Thereafter, 100% of the sum insured is payable. Notwithstanding the above, if death is by accident, then 100% of the sum insured is paid.
On the policy anniversary on which the owner is aged 75 nearest birthday, the policy may be surrendered for 90% of the sum insured. The company reserves the right to increase the policy fee payable under the policy at any time to a level not exceeding that applicable to newly issued policies of the same type.
Prime Provider Special
Prime Provider Special is a limited underwriting plan which provides for payment of a lump sum if the policyholder is diagnosed as having either a malignant cancer or a heart attack.
The policy expires no later than the policyholder’s 70th birthday. In the event that the policy expires with no benefits having been paid, all premiums paid under the policy will be refunded to the owner.
In the event of the death of the policyholder with no prior diagnosis of a covered condition or within 30 days of the diagnosis of a covered condition, the premiums paid under the policy will be refunded.
Prime Replacer
Prime Replacer is a disability income policy which expires no later than the policyholder’s 65th birthday. The policy provides for a payment of a monthly benefit while the policyholder is totally unable to work. In the event that the policyholder is able to work but at a reduced income a proportionate benefit is payable.
Prime US$ Term
Prime US$ Term is a five year renewable, non-convertible term policy that expires no later than the policyholder’s 70th birthday. Premiums and benefits are payable in US$. The company reserves the right to increase the policy fee at each policy anniversary to the level then in effect for new policies of the same type. The company reserves the right to increase the premium payable under this policy at any policy anniversary.
Refundable Term
Refundable Term is a five year renewable, convertible term plan that expires no later than age 65. On converting the policy, the policy owner shall be entitled to a refund of 30% of the premiums paid between the issue date (or the immediately preceding fifth anniversary of the issue date if later) and the conversion date.
On each fifth anniversary of the issue date of the contract, the policy owner shall be entitled to a refund of 30% of the total premiums paid under the contract since issue or last renewal.
Total Term
The Total Term is a five year renewable, convertible term plan which expires at age 70. The company reserves the right to increase the policy fee at each policy anniversary to the level then in effect for new policies of the same type.
Universal LifeSaver
The Universal LifeSaver is an equity-linked plan. The death benefit payable is the basic sum insured together with the value of units.
The allocation in respect of the basic premium is as follows:-
Ages 0 to 30 - 50% in years 1 and 2, 85% thereafter
Ages 31 to 40 - 30% in years 1 and 2, 85% thereafter
Ages 41 to 45 - 40% in years 1 and 2, 85% thereafter
Ages 46 to 54 - 50% in years 1 and 2, 85% thereafter
Ages 55+ - 60% in years 1 and 2, 85% thereafter
Units may be encashed at any time subject to a 5% charge.
