Menu
Menu
Menu
Menu
Under this plan, the policy holder receives a percentage of sum assured after completion of 3, 6, 9 & 12 years. In event of unfortunate demise of life assured anytime within the policy term, sum assured with accumulated bonus is paid to beneficiary without deducting survival benefits, if any, already paid.
What are the benefits under the plan?
A specified percentage of sum assured is paid on the life assured surviving 3, 6, and 9 years from the date of commencement.
Specified percentage of sum assured is paid along with accumulated bonus at end of policy term.
In event of unfortunate death anytime within policy term of twelve years sum assured with accumulated bonus till death is paid to beneficiary without deducting survival benefits, if any, already paid.
Premiums can be paid Yearly, Half yearly, Quarterly or Monthly by Cash, Bank order, Bill pay etc.
Key Features
Discounts:
| Discount for Premium Mode | |
|---|---|
| Yearly | 2% |
| Half Yearly | 1% |
| Discount for Sum Assured | |
|---|---|
| MVR 150,000 to 249,999 | 0.1% |
| MVR 250,000 and above | 0.2% |
Required Documents:
Available Options:
The plan is available under two options,
option 1 and option 2.
The plan offers SURVIVAL BENEFITS AS PER FOLLOWING SCHEDULE
| CHEDULE | COMPLETED YEARS | OPTION 1 | OPTION 2 |
|---|---|---|---|
| First | 3 | 20% of sum assured | 25% of sum assured |
| Second | 6 | 20% of sum assured | 25% of sum assured |
| Third | 9 | 20% of sum assured | 25% of sum assured |
| Maturity | 12 | 40% of sum assured + bonus | 25% of sum assured + bonus |
SAMPLE PREMIUM FOR MVR 50,000 SUM ASSURED (MONTHLY)
| AGE | OPTION 1 | OPTION 2 |
|---|---|---|
| 15 | 482 | 494 |
| 20 | 482 | 494 |
| 25 | 483 | 495 |
| 30 | 484 | 497 |
| 35 | 488 | 502 |
| 40 | 496 | 510 |
| 45 | 509 | 525 |
Example
A person took a Cash Back 12 Year policy for a sum assured of MVR 100,000 under option 2. He nominated his wife as beneficiary and received 1st, 2nd, and 3rd survival benefits of MVR 25,000 each after completion of 3rd, 6th, and 9th year. He passed away in the 11th year. Allied Insurance Company will pay the sum assured of MVR 100,000 and an accumulated bonus to his wife without deducting survival benefits already paid to him.
