Money accumulator Pension Plus
WHAT IS MONEY ACCUMULATOR PENSION PLUS
The Money Accumulator pension Plus is a combination of the self-liquidating Whole life Participating Plan (BMAP) and the Premium Deposit Fund (PDF)
WHO CAN BE INSURED UNDER THIS PROGRAM?
Money Accumulator Pension Plus is intented to anybody ages 1 mo.- 18 yrs old/19 years to 55 years old.
FOR HOW MANY YEARS IS THE PROGRAM PAYABLE?
The premium under this program are payable for two years, for five years.( 10) for ten years only.
WHAT HAPPEN IF THE INSURED LIVES UP TP MATURITY DATE?
On the maturity date (MD) of the pension : the maturity value (MV) can be opted to be paid in 3 different settlement option.
1. Lumpsum – policyholder receives total maturity value on maturity Date
With this plan, Policy holder gets P 500,000.00 on the 10th anniversary
2. Monthly Pension
Eg. MV=P 500,000.00 MD =10 years after the issue date
MV= P500,000.00
x 1% = P5,000.00 Monthly pension 180 months
P 900,000.00 plus
Lump sum P 500.000.00
Total benefits P1,400.000.00 Total pension Benefit
3. Partial withdrawal (PW) Policyholder withdraws any desired amount from his MV on MD The remaining maturity Value (RMV) shall be released on the same Manner as the monthly pension schedule.
e.g. MV = P 500,000.00 MD =10years after issue date
MV = P 500,000.00
PW= P 200,000.00
——————–
RMV =P 300,000.00
x 1% p 3,000.00 x 180 months P 540,000.00
Plus 3000,000.00
P 840,000.00 Total pension benefits
In all cases ,the insured are still covered for life since the premium for the first 11 years of the policy which is segregated from the pension fund has earned dividends which is left to accumulate and earn interest. The earning /interest is used to take care of the succeeding premiums.
WHAT HAPPEN IF THE INSURED DIES?
IF THE INSURED DIES BEFORE THE MATURITY DATE
His/her beneficiary beneficiary will received the amount of coverage in full Plus any accumulated dividends available Plus the accumulation value in the fund at the time of death of the insured.
WHAT HAPPEN IF THE INSURED DECIDES TO SURRENDER THE POLICY?
If the insured surrenders the policy before the maturity date of the pension .the insured will receive the value in the fund at the time surrender Plus the Cash surrender value Plus any accumulated dividends available.
if the insured surrenders the policy after the Maturity Date of the pension .the insured will receive the Cash surrender value Plus any accumulated dividends available Plus any remaining maturity value where applicable.
WHAT IF THE INSURED SUFFERED A TOTAL AND PERMANENT DISABILITY (TPD)?
If the Insured/Payor (for minor insured with Payors clause benefit suffers from TPD during the premium paying period .any premiums falling due after said disability will be waive and the insured will receive the maturity value on MATURITY DATE and still covered for life.
if the insured /Payor9for minor insured with Payors clause benefits 0 suffers from TPD after the maturity Date the insured will still be covered for life.
Total and Permanent disability means
1. uninterrupted disability for not less than six (6) months which prevents the Payor from engaging in any gainful occupation or business
2. Total and irrecoverable loss of sight in both eyes. or
3.Loss of two or more limbs by amputation at or above the wrist or ankles.
Total and permanent disability must (a) result from any injury sustained or sickness contracted during the reflectivity of the policy.and (b) start while the policy is in force and before the Policy Anniversary nearest to the Owners 60th birthday.
HOW MUCH DOES THE MONEY ACCUMULATOR PENSION PLUS COST.?
For every P1,000.00 coverage the cost depends on the premium paying period and the maturity period available pension Scheme are:
2 years to pay /7 years to mature
5 years to pay /10 years to mature
5 years to pay /15 years to mature
5 years to pay /20 years to mature
5 years to pay /7 years to mature
10 years to pay /10 years to mature
10 years to pay /15years to mature
10 years to pay /20 years to mature
All this benefits Can be yours Avail now..
Contact us Virgilio Vallecera
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