Financial Advisor at FBN Insurance Limited

Personal Retirement Plan
HomeRetail ProductsPersonal Retirement Plan
Retirement years should represent a time of rest and enjoyment. The worries of working life ceases and a life of fun begins. With retirement comes the reality that you no longer have a regular monthly income. You may start to feel the financial pressures as your accumulated savings may gradually reduce due to increasing living expenses. This may be as a result of inflation, rising living cost, dwindling or no future savings.

This is why you need a PERSONAL RETIREMENT PLAN, a retirement savings plan that ensures that you are in control of your life even during your golden years. It is a simple, hassle free plan that helps you to create your own pension pot and live your retirement the way you want it.

How Does It Work?
Step 1: Choose your policy premium
Like any other plan that allows you to save for retirement, you decide the premium you want. This represents the regular contribution amount during the savings period. The premium amount can be paid monthly, quarterly, semi-annually, annually or one-off.
Step 2: Decide the Deferred / Savings period
You also decide the deferred period. This is the period when your contributions will accumulate. It is the period when you make contributions towards building your retirement fund.
Step 3: Start growing your fund
Your funds will grow at an annual interest rate which will be communicated to you quarterly.
Step 4: Earn additional bonus on your fund as you save
The plan also promises you an additional amount referred to as the Retirement Bonus which is a defined percentage of your total fund, the sum of which is dependent on how long you save (deferred period). This is earned at the point of exit which is either at maturity or on termination (provided it is greater than five years).
Step 5: Convert to regular monthly income
You have the option to convert your fund balance (allocated contribution plus interest plus bonus) to annuity or a lumpsum

FlexiSave Plan
HomeRetail ProductsFlexiSave Plan
This policy provides policyholders with an avenue for medium to long term savings and a lump sum benefit at the end of the selected duration.

Product Features
Life Cover

In case of death during the duration of the policy, there is a guaranteed funeral expense benefit payable to the beneficiary
This guaranteed funeral expense benefit is equal to 10% of total premium payable during the duration of the policy subject to a minimum of N100,000 and a maximum of N500,000
Accidental Death Benefit: 200% of the total premium paid is payable for the entire period of cover, subject to a maximum limit of N5,000,000
Minimum monthly premium of N5,000
Maximum age at maturity: 65 years
Minimum policy term: 5 years
Maximum policy term: 20 years
Premium payment mode: Monthly/Quarterly/Half Yearly/Annually/Single Premium
Provide tax free lump sum at the end of the selected policy duration
Grace Period: There is a grace period of 30 days for payment of premium
A risk premium would be deducted from your regular contribution to provide for your life cover
Maturity Benefit:

At maturity, you will receive full refund of investment premiums and accrued interest on your contribution