ANTICIPATED ENDOWMENT Platinum from ALLIANCE INSURANCE is a protection and accumulation plan wherein three predetermined maturities are paid at regular intervals during the tenure of the plan with life insurance coverage based on full Sum Assured.
This plan smartly meets the anticipated financial obligations at various stages of the policyholder’s life through its wide range of policy terms. Customers enjoy partial maturities during the term to enable them to plan for future expenses while earning returns for their savings.
By receiving a percentage of the Sum Assured amount three times during the period of the policy term, Anticipated Endowment Platinum offers greater liquidity throughout the savings period of the plan without any risk or fluctuations in the maturity amount.
Since this plan is a participating, non-linked, the Terminal Bonuses declared during the policy term ensures robust returns for the premiums paid by the policyholder. These Terminal Bonuses, declared annually, are accrued and paid along with the final maturity or god forbid in case of untimely death of policyholder.
This special plan also enables the policyholder to add various other optional benefits to the plan thereby offering protection for a number of probable risks the policy holder may encounter during the policy term.
Premium Currency
US Dollars (USD)
UAE Dirhams (AED)
AGE CRITERIA
Minimum age at entry is five years old
Maximum age at entry is 65 years old
Maximum maturity age is 80 years old
Policy Term
12, 15, 18, 21, 24 & 30 years
Policy Payment Term
Single Pay, 3 years pay, 5 years pay, Full Term Pay
Premium Payment Mode
Monthly, Quarterly, Half-yearly & Annual
Guaranteed Survival Benefit
25% of Sum Assured – 1/3rd policy term
25% of Sum Assured – 2/3rd policy term
50% of Sum Assured + Accrued Terminal Bonus at the end of Policy Term
Death Benefit
Sum Assured + Accrued Terminal Bonuses
Additional (Optional) Benefits
- Critical Illness 40
- Permanent/ Partial Total Disability
- Accidental Death and Dismemberment
- Triple Accident Benefit
- Waiver of Premium Benefit
- Passive War Benefit
- Family Income Benefit
Premium Interruption
- Grace period of 30 days
- Policy Revival period of 2 years
- Automatic Premium Loan
- Paid up option
- Surrender option
- Extended Term Cover
For Critical Illness Cover
- Maximum entry age is 65 years
- Maximum coverage age is 70 years
- Up to 50% of basic Sum Assured can be availed
Anticipated Endowment Platinum has been specifically designed to provide you with cash when it is most needed.
Unlike most savings and protection polices you do not have to wait until maturity to receive the Sum Assured. Instead you benefit from a three phase maturity whilst still enjoying the security of full protection benefits. Your Life Insurance cover remains at 100% throughout the policy term regardless of the maturity already paid.
Maturity value plus the accrued terminal bonuses can be used for a specific purpose such as your higher education of your children, child’s marriage, retirement or the special holiday you were longing to take.
STEPS TO OWN THE PLAN
- Choose the Basic Sum Assured based on your needs
- Choose the Policy Term as per your requirements
- Choose the premium payment terms as per your convenience
- Your premium will be calculated based on the Age, Basic Sum Assured, Policy Term and Payment Period. (underwriting requirements if any)
- Complete the documentation along with the other prerequisites
- Pay your premiums regularly/regularly
- Enjoy maturity Amounts at specified regular intervals + Bonus along with final maturity
- Stay protected throughout the policy term
This unique feature enables customers to choose shorter Premium Payment Term based on their convenience irrespective of the Policy Benefit Term.
Other than the regular premium, the customer can choose to pay the premiums in one of the three shorter periods mentioned below:-
- Single premium –One lump sum payment
- Three years premium payment – You can pay the premiums in just three years
- Five years premium payment – The premiums can be paid over a five year period.
On an aggregate, the customer pays reduced premiums, making the returns attractive.
This limited period premium payment option helps expatriate customers to complete their premium payment well in advance so that they can enjoy the basic benefits of the plan without paying the premium for the remaining term.
Sum Assured
In the event of untimely death during the policy term, the full sum assured plus accrued terminal bonuses will be paid to the beneficiaries providing protection to the family. This is a worldwide cover with benefits payable in any country (Standard exclusion apply). The benefits are subject to payment of full premiums.
Maturity Benefits
Three payments at specific intervals will be paid throughout the plan term based on the Sum Assured amount on survival of the policyholder.
Annual Bonus*
Each year, Alliance Insurance declares a terminal bonus which accumulates in the policy and is paid when the policy matures or when the death claim of the policyholder is paid. The bonus depends on the performance of the business at Company’s discretion.
Policy Loans**
If the policyholder needs money at short notice, it is possible to obtain a loan against the cash value of the policy.
Policy Surrender
The Plan acquires a cash value after a certain period based on the premium payment term. The policyholder can surrender the policy in case necessary based on a pre-defined cash value chart provided at the time of policy inception.
Grace Period
Grace Period of 30 days is allowed after the premium falls due for payment. All benefits are intact during this period.
Automatic Premium Loan
In case of financial difficulty in paying the premiums, the Automatic Premium Loan option will enable the policyholder to pay the premium from the cash value of the plan. The APL shall continue subject to the availability of Cash Value
Paid up Option & Extended Term Cover (ETA)***
Upon acquiring a cash value, if the policyholder is unable to continue with the premium payment they can choose convert the policy into Paid-Up status. The Sum Assured (for death and maturity) in this case will be reduced to the value of Paid-up Amount.
The policy holder also has the option to choose the Extended Term Cover option which enables the Death Benefit to continue at 100%, while the pure Endowment (ETA) value, if any, shall be paid on maturity. The term of coverage and pure endowment are dependent upon available cash value at the time of conversion.
Policy Revival Period in case of Policy Lapse
The lapsed policy can be revived within 2 years of the last premium paid by paying the premiums due along with the penalty subject to “Declaration of Good Health”.
Foot Notes:
*The bonus cannot be used to offset future premiums, neither can it be encashed prior to maturity
** The loan interest rate shall be set at Company’s discretion.
*** Bonus is not payable upon Paid-up or ETA.
