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 Optima Policy Optima is a Whole Life Policy which guarantees cover for the rest of your life so long as premiums are paid. It is the most efficient and effective way of buying life cover. Any part of the premiums not required for life cover is invested on your behalf in Cannon's Policy Value Account. The Policy Value Account is invested for growth, and units increase in value in step with Kenya's growing economy. If at any stage you decide that you no longer
need life cover then the policy can be terminated and the policy value will be resumed to
you. For example, Mr. Simba, aged 40, effects an Optima for KShs. 1 million and pays
a premium of KShs. 2,070/- a month. Twenty years later his children have grown up and he
decides he no longer needs the policy. If the units have grown at 10% p.a. then KShs.
523,600/- would be repaid. Mr. Simba has paid only KShs. 496,800/- in premiums. He looks
upon this as 20 years protection provided free for his family in the amount of KShs. 1
million and has a little profit left over. The Optima Value Account From the end of the third policy year, 90% of each premium (92% for premiums paid annually), after deduction of the policy fee, is invested in the Policy Value Account. Every year, starting 30 months after the policy is taken out, the cost of life cover for the current policy year is deducted from the policy value account. The deduction of this risk premium charge is described in the policy and made according to the appropriate tables of mortality. Once more than three full year's premium have been paid the policy can be surrendered for the full value of the policy value account, less any risk premium charge for the current year. BENEFIT Non - forfeiture Condition Loan Facility Optional / Additional Benefits Available With Above Product Accidental Death Benefit Waiver of Premium Personal Accident
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