Standard Alliance Life INVESTMENT PLAN

The Plan
The SA Life Investment Plan is an investment linked life Assurance policy which enables you as the individual life assured to have an additional estate through the periodical saving of a regular sum of money for a specified number of years at a competitive guaranteed rate of return. You also enjoy a built in life assurance cover on the plan. The plan can act as a savings account for future expenditure such as child education, retirement and even pay your loved ones in the event of your demise.

How it works
As the policyholder / proposed life assured, you determine the periodical amount for contribution under the plan at inception of the plan. The mode of payment can be adapted to suit you. We offer the opportunity to make convenient monthly, quarterly, biannual payments which accumulate in an individual Investment Account on your behalf under our Investment Pool Funds to earn competitive interest returns annually.

You may also choose to a make lump sum contribution into the plan at anytime or increase your regular contributions in line with changes in your finances. Such lump sum amount or increased amount will be credited into the investment account and will rank for interest as the regular contribution.

Added Benefits

• There is a free guaranteed lump sum of money payable to named beneficiaries in the event of death in the early years of the policy up to N500,000.00*
• We guarantee a minimum return of 5% p.a. on the plan.
• We offer a non-medical limit under the plan of N5 million.
• Your contributions into the plan are also tax exempt for income tax purposes. SA Life will issue Life Assurance Premium Relief Certificate on annual basis to be used for relief on your contributions into the plan.

Surrender of Benefit
On surrender of the policy (i.e. if payment stops) the amount in the investment account becomes payable immediately. You may only surrender after four years. Any surrender before the fourth policy year will attract penalty charge as follows.

Duration at withdrawal (years) Penalty (% of balance)
1 Nil Surrender
2 Nil Surrender
3 5%
4 and above No penalty