Why Choose Loan Protection Assurance Plan

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Loan Protection Assurance Plan

The product is designed to provide loan protection assurance to institutions who disburse loans to their customers in the eventuality of death, total permanent disability of an insured borrower under the policy resulting from either accident or illness. This eliminates the risk of default due to death, permanent total disability or retrenchment of debtors of the financier. Two categories of loans covered are personal loans and auto/ car loans..

BENEFITS INCLUDE
  • Life Cover
  • Permanent Total Disability
  • Retrenchment
KEY FEATURES OF THE PRODUCT
  • The minimum and maximum age of entry under the policy is 18 and 60 years respectively.
  • A single premium based on the premium rates shall be paid at inception.
  • The term of the policy shall not exceed 5 years.
  • The policy will be on a decreasing term basis i.e. the policy pays out the outstanding loan balance plus one month interest but excludes defaults and its accrued interest.
  • All customers of your institution granted loan shall automatically be covered.
  • The financier shall be the sole beneficiary under the loan protection section of the policy. The loan protection benefits are not assignable. The sum assured
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SMART Target Policy - An Example of a UNIVERSAL LIFE

Vanguard Life Smart Target Plan provides financial support at each stage of your life. The policy is an investment-linked life assurance plan providing both life cover and savings benefits. The Smart Target Plan assures you that your investment premium is secured and shall earn a guaranteed interest. The policy pays lump sum at maturity. However, you have the option to purchase annuity (monthly payments) for a defined period or for life.

When should you consider Term Life Insurance?
  • You have a home with a fixed mortgage that you need to secure.
  • You have children, whom need financial stability while they grow up.
  • You have debts that will be paid down over time.
  • When you need low-cost life insurance with “no-frills.”
What is Whole Life Insurance?
Vanguard Life's Final Dignity Plan is a Whole Life policy. This policy provides life cover on the life of a policyholder and secondary lives (spouse, parents, extended family and up to four children) and pays the selected benefit in the eventuality of death.
Why Choose Child Education Plan

If you hope to have a successful future for your child, then Vanguard Life’s Child Education Plan has a good education plan for you today

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