CONVENTIONAL PLAN

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Cashback


Saving the smart way
Cashback has never been so gratifying

AfriLife Cashback is a money-back policy. It holds the advantage of being a saving mechanism doubled by a comprehensive life insurance cover.

What's more, it offers at 5-year intervals, pre-defined cash flows enabling you to plan your projects ahead and enjoy the comfort of ready money in required time.

What are your Benefits?
afrilife insurance benefits

Endowment


Cover yourself and save at the same time

Designed to give you a highly reliable cover while allowing you to save at the same time, our endowment policy also provides financial cover for your family with a bonus at maturity. If life separates you from your loved ones during policy period, your nominee(s) gets the full amount without any stress.

endowment

Product Features


Afri Life Cashback

Type of policy With profits
Can be effected on A single life or on joint life
Frequency of instalments Every 5 years
Available terms 15 years, 20 years & 25 years (Must mature on the 70th birthday of the older life)
Eligible age at entry Min. 13 next birthday - max. 50 next birthday
Frequency of premiums Monthly
Minimum sum assured Rs 150,000
Maturity benefits Balance of the basic sum assured (i.e basic sum assured LESS instalments already paid) The last instalment plus bonuses are payable.
Death benefits Basic Sum Assured + accrued bonuses payable
Disability benefit (optional) Monthly instalment of sum assured over two years in case of disability
Accidental benefits (optional) Twice basic sum assured + accrued bonuses
Additional death benefit (optional) Additional basic sum assured
Critical illness benefits (optional) Sum assured is payable on diagnosis of a critical illness (As defined in the policy documents)
Remarks Surrender value as per policy conditions

Afri Life Endowment Plan

Type of policy With profits
Can be effected on A single life or on joint life
Available terms Min 10 - 40 years (must mature on the 65th birthday of the older life)
Min. - Max. Age at entry 13 next birthday - 50 next birthday)
Frequency of premiums Monthly
Minimum sum assured Rs 200,000
Maturity benefits Basic sum assured PLUS accrued bonuses
Death benefits Basic sum assured PLUS accrued bonuses
Disability benefit (optional) Monthly pension over two years for total of basic sum assured
Accidental benefits (optional) Twice basic sum assured
Additional death benefits (optional) Additional basic sum assured
Critical illness benefits (optional) Sum assured is payable on diagnosis of a critical illness (as defined)
Assignment The policy may be used as security for any loan that the policyholder may be taking from another financial institution
Surrender value No surrender value is payable if policy is cancelled during the first 3 years