This is a unit-linked investment policy that pays out a guaranteed lump sum at maturity if the policyholder survives the term of the policy. It is a low-risk investment plan that helps investors achieve their medium to long-term goals by pooling their investments together which are then invested in equities or bonds or a combination of both.

Policy Duration

With this policy, the basic investment term is 10 years, with 45 years being the maximum. Investors may choose any period in between these that best aligns with their goals and plans.

Policy Premium

The minimum investment amount is E200.00 per month. The investor has 3 options regarding the premium under this policy:

• No escalation option – Keep the premium fixed across the selected term of the policy. For example, if you choose to pay E250.00 from the first month, this will be your premium until the policy matures.
• 10% escalation option – The premium increases by 10% each year for the duration of the policy, effective on the same month the policy commenced.
• 15% escalation option – The premium increases by 15% each year for the duration of the policy, effective on the same month the policy commenced.

What if I cannot keep up with the yearly escalations?

You have the option of terminating the yearly escalation at any time before the policy matures. It is important to note that terminating the escalation affects the policy maturity value.

Estimated maturity values for selected policy premiums and terms:

E200 per month:

	10 years	15 years	20 years
No escalation	E26,723	E50, 715	E84, 184
10% escalation	E43, 063	E102, 752	E213, 850
15% escalation	E54, 801	E149,318	E357, 774

 

Policy ownership

This type of policy can be taken by the Life Assured on his/her own life, on the life of their spouse or on the life of their child over the age of 16 years.

Policy Application documents

• Identity Document (ID card, Passport)
• Proof of Income (Payslip/ Bank Statement)
• Proof of Residence (Affidavit, Electricity/Water Bill)

Loan Entitlement

The policyholder is entitled to a loan facility based on the surrender value of their policies at 0.83% per month on a reducing balance basis. The minimum amount borrowable is E1,000.00 and can be accessed after more than 24 months of premium payment.

Terminating the Policy

If you decide to terminate the policy at any point before its maturity date, there will be penalties, which are calculated based on the time the policy has been in force and the monthly premium contribution. Take time to consider your financial affairs before committing to long term investments.

Maturity

At maturity, you have the option of extending your investment for any period from 2 – 10 years, under any of the following options:

1. Re-invest the whole or part of your pay-out while maintaining the full, part, or additional premium.
2. Reinvest the whole or part of your payout without any premium.
3. Cash out your full investment.

Documents required to claim

• Policy document
• Your ID
• Bank statement

What happens if I pass on before maturity?

The value of your policy at the time of your passing will be paid out to your nominated beneficiaries, according to the last signed beneficiary nomination form. It is important to keep your beneficiary nomination list up to date and in line with your wishes.

Premiums Payment Options

• At ESRIC offices in Mbabane, Manzini or Nhlangano
• Debit Order Payment
• MTN MoMo
• Eswatini Mobile e-Mali
• Through a bank EFT
• At your nearest Post Office
• Employer Stop Order (arranged prior)