Most investors understand the importance of planning and saving to reach their financial goals, but all too often our long-term needs are sacrificed for short-term necessities. Alliance’s Anticipated Endowment plan can help you achieve your financial objectives and the financial security you need to enjoy life to the full, while offering you insurance protection. The earlier you start the plan, the more time your savings will have to accumulate.
Our Anticipated Endowment plan is designed with flexibility in mind, giving you the freedom to choose how you want to save. The plan allows you to:
- Choose your premium level and currency.
- Choose your premium payment term.
- Continue your plan if you change job or relocate overseas.
- Increase your insurance cover and contribution levels.
- Add additional benefits, even after the policy has commenced.
- Access your funds at regular intervals.
Three convenient cash payment modes:
Period
Payment at the end of one-third of the policy term.
Payment at the end of two-thirds of the policy term.
Payment on maturity of the policy.
Guaranteed payment
One third of policy term – 25% of the sum assured
Two thirds of policy term – 25% of the sum assured
Maturity of policy – 50% of the sum assured plus accrued bonuses
Policy Loans
If finances are required at short notice, it is possible to obtain a loan against the cash value of your policy.
Policy Surrender
To facilitate the flexible requirements of the investor, the plan provides early surrender options. The Anticipated Endowment acquires a cash value after the payment of only two years contributions.
Extra cash at maturity
Each year Alliance allocates a Terminal Bonus which is paid on maturity of the policy. Bonuses vary and depend on the profits of the portfolio but are paid on the Full Face Amount of the policy
Life Assurance
In the event of an untimely death during the policy term the full sum assured plus bonuses will be paid to your dependents.
Flexibility
After the payment of two year contributions, if you find yourself unable to continue with your premium payment, you may still keep your policy in force for an additional period and benefit from the security of full insurance cover.
The Anticipated Endowment plan is designed to give you cash when you most need it. Unlike, regular savings and protection policies, you don’t need to wait until the plan matures to access your money. Our flexible plan gives you a 3-phase maturity option, while still enjoying the security of full protection. Your insurance cover remains at 100% throughout the policy term regardless of any cashed installments.
The proceeds from your matured plan (along with accrued bonuses) can be used to achieve your future financial goals, such as funding your child’s education or wedding, or paying for a comfortable retirement.
Financial security before maturity
Incase of loss of life before the maturity date, the full sum assured will be paid to the beneficiary. With minimum cost you can add following benefits :
Triple Accident Benefit
This option pays additional benefits in the event of Accidental Death, Accidental Dismemberment and Accidental Total or Temporary Disability, as follows:
| EVENT | BENEFIT |
|---|---|
| Accidental Death | 2 x Sum Assured + Bonuses |
| Accidental Death in a Public-Vehicle | 3 x Sum Assured + Bonuses |
| Accidental Dismemberment, Loss of two limbs/both eyes | Sum Assured immediately plus Policy continues in force |
| Total or Temporary Disablement | A weekly income equal to half a percent of the Sum Assured |
Family Income Benefit
Apart from the sum assured, your family will receive a monthly income which will help them with the costs of day to day living.
Critical Illness Cover
Incase of critical illness during your policy term, an advance payment of 50% of the sum assured would be paid. The critical illnesses included in the policy are :
- Heart Attack
- Coronary Artery Disease Surgery
- Stroke
- Kidney Failure
- Cancer
- Major Organ Tranplantation
- Multiple Sclerosis
- Paralysis
- Coma
- Major Burns and Blindness
Waiver of Premium
Should you suffer from illness for a lengthy period or unable to work owing to an accident, then it is most likely that payment of premiums will become a burden. To alleviate you from this potential worry, we have included an option on this plan for you to have a waiver of premium. If you elect to have this option, then Alliance will pay your premiums after three months incapacity until you return to work or the plan matures, whichever occurs earlier.
Contribution Frequency
Contributions can be made: monthly, quarterly, half-yearly or annually.
Policy Currency
US Dollars (USD)
UAE Dirhams (AED)
Minimum premium: AED 1,600 per year (monthly premium AED 1,000)
An increase in cover is subject to satisfactory evidence of insurability at the time of increase, prior to the settlement of the first maturity installment.
Policy duration: plan terms range from 12 to 30 years
Increase in cover are subject to satisfactory evidence of insurability at the time of the increase.
AGE CRITERIA
Minimum age at entry is five years old
Maximum age at entry is 65 years old
Maximum coverage age is 75 years old
