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Hekima Policy

 

Overview

Hekima policy is a wonderful wealth creation policy which gives you (the policyholder) the dual benefit of protection alongside potentially high returns upon policy maturity

Benefits

It combines insurance protection in case of death with an opportunity to earn high returns upon maturity.

Bonuses are declared every year computed as a percentage of the sum assured (a minimum bonus rate of 5.00% is guaranteed). The partial maturity payment is flexible with several options to choose from:

PAYOUTS/BENEFITS ILLUSTRATION: AGE 25 YRS & TERM 12 YRS

Premium
Sum Assured(S.A)
 %Benefits5,000

374,504

10,000

749,008
15,000

1,123,511

4th Cash Payout
25% of Sum Assured 93563187,126280,689
            8th Cash Payout
35% of Sum Assured130,988
 261,976392,964
12th Cash Payout100% of Sum Assured711,078 748,5031,122,754
Bonuses
2.5% x S.A x Term112,275 224,55134,282
TOTAL  711,078 1,422,1562,133,234
  Riders Premium
 298 596895
 Other Benefits/Riders
   
 Total and Permanent Disability
 100% of Sum Assured 374,504 749,008 1,123,511
 Accidental Death
 200% of Sum Assured 749,008 1,498,015 2,247,023
 Waiver of Premium
 100% of Sum Assured 374,504 749,008 1,123,511

NB: The benefits can be paid in lump sum (in one single cheque) as the client so wishes/advices.
Bonuses are declared every year computed as a percentage of the sum assured (a minimum bonus rate of 2.5% is guaranteed).

 

PAYOUTS/BENEFITS ILLUSTRATION for Option 1: AGE 30 YRS & TERM 12 YRS

Premium
Sum Assured(S.A)
 %Benefits5,000
372,925

10,000
745,850
15,000
1,118,775
4th Cash Payout
25% of Sum Assured 93,231186,462279,693
            8thCash Payout
35% of Sum Assured130,524
 261,048391,572
12th Cash Payout100% of Sum Assured372,925
 745,8501,118,775
Bonuses
5% x S.A x Term223,755
 447,510671,265
TOTAL  820,435 1,640,8702,461,305
  Riders Premium
 286
 572858
 Other Benefits/Riders
   
 Total and Permanent Disability
 100% of Sum Assured 372,925 745,850 1,118,775
 Accidental Death
 200% of Sum Assured 745,850 1,491,700 2,237,550
 Waiver of Premium
 100% of Sum Assured 372,925 745,850 1,118,775

 

PAYOUTS/BENEFITS ILLUSTRATION for Option 2: AGE 30 YRS & TERM 12 YRS

Premium
Sum Assured(S.A)
 %Benefits5,000
388,768

10,000
777,536
15,000
1,116,304
6th Cash Payout
25% of Sum Assured 91,192194,385291,576
            9thCash Payout
35% of Sum Assured136,069
 272,138408,206
12th Cash Payout100% of Sum Assured388,768
 777,5361,166,304
Bonuses
5% x S.A x Term233,261
 466,522699,783
TOTAL  855,290 1,710,5802,565,870
  Riders Premium
 286
 572858
 Other Benefits/Riders
   
 Total and Permanent Disability
 100% of Sum Assured 388,768 777,536 1,166,304
 Accidental Death
 200% of Sum Assured 777,536 1,555,072 2,332,608
 Waiver of Premium
 100% of Sum Assured 388,768 777,536 1,166,304

 

PAYOUTS/BENEFITS ILLUSTRATION : AGE 34 YRS & TERM 12 YRS

Premium
Sum Assured(S.A)
 %Benefits10,000
744,014
15,000
1,116,022
4th Cash Payout
25% of Sum Assured 186,004279,006
            8thCash Payout
35% of Sum Assured260,405
 390,608
12th Cash Payout100% of Sum Assured744,014
 1,116,022
Bonuses
10% x S.A x Term892,816
 324,000
 Tax Relief
 15% x Annual P. x 12 216,000 3,111,055
TOTAL 2,299,2383,114,055
  Riders Premium
 578866
 Other Benefits/Riders
  
 Total and Permanent Disability
 100% of Sum Assured 744,014 1,116,022
 Accidental Death
 200% of Sum Assured 1,488,028 2,232,044
 Waiver of Premium
 100% of Sum Assured 744,014 1,116,022

 

 

Policy Riders

Accidental Death: On accidental death of the Life Assured the policy pays double (200%) basic sum assured plus the accrued bonuses.

Permanent and total disability: In the event of the Life Assured becoming Totally and Permanently Disabled due to accident or illness, all future premiums are waived and the basic Sum Assured is paid in 36 equal monthly installments.

Waive of Premiums: In the event of Life Assured becoming totally disabled due to accident or illness, future premiums are waived during the continuance of the disability (minimum period 6 months) provided the Life Assured has not attained 60th birth day by the time of disability.

Accident Indemnity: The policy pays Weekly Indemnity benefit depending on the level of sum assured purchased for each week the Life Assured is continuously disabled and prevented from engaging in gainful occupation as a result of an accident. 

 Surrender value:
Policy acquires surrender value after being in force for a minimum of three (3) years with premiums fully paid.
 

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