What if I die before reaching the retirement age?

God forbid, if you die before reaching retirement age, the accumulated account value or the premiums paid whichever is higher will be paid to your beneficiaries.

Can I increase my life insurance protections before the retirement age?

Yes. You may do so by adding Term Life Insurance Rider and pay additional premium. Please note that addition of this rider will be subject to your providing evidence of good health satisfactory to the Company.

Can I choose the retirement age?

Yes of course. You may choose any age, such as,50, 55, 60, You may defer retirement up to 65, 70, 75 if you wish. The account value will continue to grow during this period. But it is not advisable to choose the retirement age below 50 as the amount of pension would be too small to be meaningful.

What happens to the accumulated account value at the retirement age?

ALICO will apply the account value at the chosen retirment age to provide a life time pension for you, guaranteed for a minimum period of 20 years.

At retirement, can I elect to take a portion of the accumulated account value in cash and apply the rest toward pension?

Yes you may apply, say 50% to buy pension and 50% in cash

What happen to the balance of the account value if I die after recieving pension for, say, only 3 years?

The pension is guaranteed to be payable for a minimum period of 20 years. If you die after 3 years, The pension will continue to your beneficiaries for the remaining 17 years.

Suppose, I recieve pension for the guaranteed period of 20 years and continue to survive. Will pension continue?

Of course you will continue to recieve pension beyond 20 years for as long as you live. pension will not stop during your lifetime. Please not that the pension is payable for your life time, with minimum payments guaranteed for 20 years.

How will the account value grow while I am paying the premium?

Please note that growth of account value will depend on:

1- The amount and timing of your premium payments and

2- The investment yield that will be cradited to your account value every month
Non of these factors can be predicted so many years in advance.

However, an illustration will be provided to given to an idea of how each premium payment will increase the account value up to your chosen retirment age. The illustration also shows the amount of pension commencing at retirment.

Please note that all the amount shown in the illustration weather the account values or the pension amount are projections and not guaranteed.

The above Plans is referable to the individual life Non-participating statutory Fund