Endowment

You can be prepared for a "rainy day"


An endowment policy is a type of Universal Life policy designed to pay a lump sum after a specified period of time while still offering you the coverage on your life that you need in the event of an early death.

The Benefits

  • Guaranteed death benefit.
  • Level Premiums
  • Permanent coverage that can never be cancelled if premium payments are made when due.
  • Possible pay out in the case of critical illness or cashed in early (or 'surrendered') and the surrender value* paid over to you. 

* The surrender value is determined by the insurance company depending on how long the policy has been running and how much has been paid in to it.

The following Riders can be added:

 

  • Accidental Death and Dismemberment
  • Waiver of Premium Benefit

BAF has designed a unique Money Back Series which offers you a choice of four plans with varying maturity periods and payments throughout the life of your plan.

The BAF Money Back Series

  • Whole life with 25% quinquenial bonus
  • 25 year endowment with 25% quinquenial bonus
  • 21 year endowment with 15% triennial bonus
  • 15 year endowment with 15% triennial bonus
 
REQUEST A QUOTE

For more information, contact your nearest BAF office or send us an email, we’ll glady call you.

We are always waiting to serve you.

  • Whole life with 25% quinquenial bonus

    Give yourself a well-deserved bonus

    Whole life with 25% quinquenial bonus protects you for life as long as the policy remains in force. You are required to pay premiums for your entire lifetime. On the fifth anniversary of your policy and every five years thereafter, you will receive a bonus of 25% of the amount of coverage you purchased providing your policy is still in force. With this plan you get all the benefits of Whole Life Insurance and the added advantage of receiving cash bonuses that you can use for whatever you choose. A Whole Life Plan offers guaranteed death benefits, low premium payments and permanent coverage with a savings component that grows over time.

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  • 25 year endowment with 25% quinquenial bonus

    Get protection, savings and bonuses

    A 25 year endowment with 25% quinquenial bonus plan provides life coverage for a period of 25 years provided the policy remains in force. Premiums are paid for 25 years and on the 25th anniversary of the policy, it matures or “endows”. This simply means that at the end of the 25-year period, the full amount of insurance purchased is payable to the insured (or the policy owner if other than the life insured) in a lump sum payment. While this policy is in force and the insured is still alive, a bonus of 25% of the amount of insurance is payable on every third anniversary of the policy including the anniversary date on which the policy matures.

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  • 21 year endowment with 15% triennial bonus

    Get coverage now and cash later

    A 21 year endowment with 15% triennial bonus plan provides you with life coverage for a period of 21 years provided the policy remains in force. Premiums are payable for twenty one years and on the 21st anniversary, the policy matures or “endows”. At the end of the 21-year period, the full amount of insurance purchased is payable to the insured (or the policy owner if other than the life insured) in a lump sum payment. While this policy is in force and the insured is still alive, a bonus of 15% of the amount of insurance is payable on every third anniversary of the policy including the anniversary date on which the policy matures.

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  • 15 year endowment with 15% triennial bonus

    Solid protection and cash back

    A 15 year endowment with 15% triennial bonus plan provides you with coverage for a period of 15 years provided your policy remains in force. Premiums are payable for a period of 15 years and on the 15th anniversary of the policy it matures or “endows”. This means that at the end of the 15-period, the full amount of the insurance purchased is payable to the insured (or the policy owner if other than the insured) in a lump sum payment. While this policy is in force and the insured is still alive, a bonus of 15% of the amount of insurance is payable on every third anniversary of the policy including the anniversary date on which the policy matures.

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