An endowment with profit regular savings plan that provides the benefits of savings and life cover. You save regularly for a fixed term and at the end of the term/ on your death, you receive the guaranteed sum assured along with vested bonuses. The guaranteed sum assured is at least 75% of your total premiums paid over the plan term. You may also receive a terminal bonus if you continue the plan until maturity or death of the policy holder.
One of the special features of the plan is you pay a higher sum for the first 5 years of the plan, and then, according to your circumstances and requirements, you are able to pay a fraction of your initial premium for the rest of the plan term. You may be able to contribute a half (for 10 year plan only), a third, a quarter or a fifth of your basic contribution paid in the first 5 years, the reduction being dependent upon the option selected at the start of your plan.
The plan can be held on a single life only.
Please see the KFD for more details.
The High Start Bonusbuilder Plan at a glance
|Minimum Premium||£50 per month/ £600 per annum|
|Maximum Premium||£300 per month/ £3,600 per annum (subject to qualifying rules)|
|Minimum / Maximum Policy Term||10 / 25 years|
|Minimum / Maximum age at entry||18 / 59 years|
|Maximum age at maturity||74 years|
|Modes of Premium Payment||Monthly/ Annually|
|Additional Riders||Accidental Death/ Permanent Disability benefit|