GROUP Standard Alliance Life ACCUMULATOR SCHEME

This is a well-packed comprehensive thrift scheme that enables contributors’ build up disposable additional fund for the next one-year or more, whilst allowing for partial withdrawal and loan to meet certain cash emergencies.


The Plan and for whom

The product is a special Deposit Linked Investment Scheme designed for group of people in a particular company/institution/club to encourage them save and enjoy competitive returns on their savings in addition to credit facility on their accumulated savings.

FEATURES OF THE PRODUCT

• Monthly Savings: Minimum contribution of =N=5,000.00 monthly
• Maximum Contribution: Unlimited.
• Tenor: minimum duration of five years
• Guaranteed Return: Subject to Prevailing Market Rate
• Life Assurance Benefits
• Maturity Value: This can be re invested for higher return on some other products
• Loan Support: credit facility of up to 200% of total Monthly savings after contributions has been made for six months and above.
• Participants: Minimum of 10 people

DOCUMENTATION
Each contributor into the scheme will be issued a participation certificate detailing the available benefits under the scheme. A master record of all participants will be maintained on behalf of all the contributors.

ADMINISTRATION
Upon approval of the scheme, we propose to meet with members of the co-operative society to educate them on the benefits and workings of the scheme. We will thereafter set up a committee with membership drawn from contributors and standard life representative to function as trustees to the scheme.