Investment Insurance

“Your customer doesn’t care how much you know, until they know how much you Care”
– Damon Richards

4. Investment Linked Insurance

Our Investment-linked insurance policies (ILPs) have both life insurance and investment components. Your premiums are used to pay for units in investment–linked sub-fund(s) of your choice. Some of the units you buy are then sold to pay for insurance and other charges, while the rest remain invested.

ILPs provide insurance protection in the event of death or total and permanent disability (TPD), if included. Depending on the policy, the death or TPD benefit may comprise the higher of the sum assured or value of ILP units or some combination of the sum assured and the value of ILP units. How much is paid depends on the value of the units of the sub-fund at the time.

4.1 Annuities

A method by which a person can receive an income in return for payment to an insurance company for a sum of money.

  • Annuity for life– payment of annuity continues for as long as the annuitant is alive and ceases on death.
  • Annuity certain– payment of annuity continues for a specified period of time irrespective of the duration of life.
  • Guaranteed annuity– provides annuity for a guaranteed period or until the annuitant dies.
  • Joint and last survivor annuity– payable while two people, e.g. husband and wife, are alive and upon the death of one, will continue at the same or less rate on the life of survivor.

4.2 Investment Policies

Available under the following categories:

  • Unit linked– value of the insurance policy is linked to the investment performance and the policy owner links the units of his premiums to a fund of his/her choice.
  • Bond investment– guarantees income payment monthly or annually or accumulates the interest in order to make cash payment at the end of the term.

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