Money
Plus Endowment Policy
This is the latest addition to Cannon's Life Assurance
Policies. It pays money back every five or six years for a term of 20 - 25 years.
The Money Plus Plan
offers a clear advantage in that you will not only enjoy 20 or 25 years of valuable life
insurance protection but you could also look forward to receiving worthwhile periodical
cash lump sums every five (5) years and also when the policy matures if no claim has been
made. Your family therefore gets a worthwhile sum if you unexpectedly die and you can get
a worthwhile cash payment periodicallyand at maturity if you do not die. So you can easily
see why the Money Plus represents such exceptional value for money.
Example:
Assuming that your age is 45 years and you take a Money Plus Plan for a twenty year term
for a Sum Assured of Kshs. 200,000/- your monthly premium will be Kshs. 1,233/-. This
comes to hardly Kshs.42/- a day. You count five years from the first day and Cannon pays
Kshs. 20,000/- automatically, Kshs. 40,000/- on the tenth year, Ksh. 40,000/- on the
fifteenth year and Kshs. 200,000/- or the policy value (whichever is higher) on the
twentieth year.
The Money Plus Plan
represents a simple and affordable way to secure high life cover with added benefit of
periodical cash payments and final maturity benefits, the plan is ideally suited to the
insurance needs of your spouse, as well as to your own. The policy can therefore be taken
jointly by husband and wife.
BENEFITS
Non - forfeiture Condition
After your policy has been in force for
at least three years and provided three years premium has been paid
the policy shall not be forfeited for non-payment of premium.
Loan Facility
This policy builds a cash surrender value in the third year, and the
policy may be assigned as a security.
Alternatively, when the policy acquires a surrender value of Kshs.
4,000/- it qualifies for a Cannon loan, subject to company policy
and prevailing rates.
Funeral Expenses Benefit
This benefit is included free of charge @ KShs. 10,000/= for each
KShs. 30,000/= cover up to a maximum of KShs. 100,000/=
Optional / Additional
Benefits Available With Above Product
Level Term Rider
This can be added at a very nominal additional premium. This increases the Life Cover and
is an important estate planning tool.
Accidental Death Benefit
This can be included as an optional feature and doubles the sum assured in the event of
accidental death.
Waiver of Premium
Provides for the facility of the Company paying your premiums in the event of an illness
or injury which renders you incapable of pursuing a gainful occupation.
Personal Accident
An illness or injury may stop you from working. Could you and your family live while you
are recovering from illness or waiting for a broken limb to mend.
To protect your income and your standard of living Cannon Assurance offer you the choice
to choose how much you think you will need to cover your family's commitments.
For further information contact
info@cannonassurance.com
