Golden Age | Summit Bank

Golden Age

A high value investment and protection plan that is designed to help customers continue with their existing lifestyle even after they retire on payment of regular premium.

The salient features of this plan are:

Eligible Enrollment Age 18 – 65 Years
Policy Term Minimum 10 Years – Upto The Age of 85 Years
Minimum Basic Premium PKR 3,000
Maximum Basic Premium No Limit
Account Value Acceleration
Premium (AVAP)
Facility Available – If customer has surplus funds, he or she may top-up the regular premiums by depositing a lump sum contribution to the Plan
Premium Payment Mode Direct Debit From Summit Bank Account
Partial Withdrawal Allowed After 5 Years
Policy Surrender Allowed After 2 Years. In Case of Earlier Surrender, Applicable Charges are To Be paid
Choice of Investment
Make Your Own Mix (Switching Facility Available)
Non-Medical Limit PKR 10 Million
Built-in Rider Accident Care Benefit (ACB) – In case of death or permanent and total disability of the insured, an additional benefit equal to 10 times the basic annual premium is payable.
Loyalty Bonus Payable At The End of Every 5 Years
Death Benefit Basic Face Amount OR Account Value (Which Ever Is Higher)
Maturity Benefit Accumulated Account Value is used to buy monthly pension that is payable for lifetime of the customer and guaranteed for a minimum of 20 years

“The product is underwritten by IGI Life Insurance etc. It is not guaranteed or insured by Summit Bank.” 

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Last Updated 2020-06-02

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