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Endowment
You can be prepared for a "rainy day"
An endowment policy is 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.
Universal Life Plans offer:
- Guaranteed death benefit.
- Level Premiums
- Permanent coverage that can never be cancelled if premium payments are made when due.
- Riders can be added:
Accidental Death and Dismemberment
Waiver of Premium Benefit
Your endowment policy may even 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.
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
Whole life with 25% quinquenial 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. read more
25 year endowment with 25% quinquenial bonus
25 year endowment with 25% quinquenial bonus provides coverage (life protection) for a period of 25 years provided the policy remains in force. Premiums are paid for twenty five (25) years and on the twenty fifth (25th) anniversary of the policy, it matures or “endows”. This simply means that at the end of the twenty five 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. read more
21 year endowment with 15% triennial bonus
21 year endowment with 15% triennial bonus provides you with coverage (life protection) for a period of twenty one (21) years provided the policy remains in force. Premiums are payable for a period of twenty one years and on the twenty first (21st) anniversary of the policy it matures or “endows”. This simply means that at the end of the twenty one 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. read more
15 year endowment with 15% triennial bonus
15 year endowment with 15% triennial bonus provides you with coverage for a period of fifteen (15) years provided your policy remains in force. Premiums are payable for a period of fifteen (15) years and on the fifteenth (15th) anniversary of the policy it matures or “endows”. This simply means that at the end of the fifteen year 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. read more
