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Target Savings

This is a product designed for investment and protection policy geared towards securing savings for future targeted needs such as buying an asset such as a car or a house, planning for a grand wedding or for starting a business venture such as real estate.

Features

  • A fixed dedicated investment account
  • Contributions and interest are credited into the account
  • Contributions can be made annually, half yearly, quarterly or monthly
  • Minimum investment term of 5 years
  • Minimum contribution payable is Kshs. 5000.00 monthly
  • Contributions can be increased within the policy term
  • Life cover benefit terminates if the contributions are not made for more than three months
  • Additional benefits(optional riders) these includes waiver of premium, personal accident and critical illness

Benefits

  • Guaranteed interest rate of 6% p.a. plus an additional bonus of .05% to 2% depending on the perfomance of the pool.
  • At maturity, the capital sum together with interest accrued becomes payable, either as lamp sum or in installments over a specified period of time.
  • The policyholder may choose to surrender the value or their account after two years, based on provisions of the policy.
  • On death of the policy holder before maturity/ target date of the policy, the life cover plus investment amount are payable.
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