How does the Memorial Benefit Plan work?

The Memorial Benefit Plan enables you give a befitting burial to your spouse, aged parents and in-laws. It is designed to ease off the financial burden associated with the loss of a loved one.

Memorial Benefit Plan 180:

• Individual Plan: The named beneficiary will be paid the benefits if the death of the policyholder occurs during the tenor for the Plan.
• Family Cover: The benefits will be paid to the policyholder if the death of any of the family membersoccur during the tenor of the Plan. However, if the policyholder dies within the duration of the policy, the named beneficiary will be paid the benefits. If any of the family membersdie after the death of the policyholder, the benefits will be paid to the named beneficiary.

Memorial Benefit Plan 360:

• Individual Plan: The named beneficiary will be paid the benefitson the demise of the policyholder.
• Family Cover: The named beneficiary will be paid the benefits on the demise of the policyholder. However, if the policyholder is still alive and any of the close family members die, the benefits will be paid to the policyholder. If any of the additional lives are lost after the death of the policyholder, the benefits will be paid to the named beneficiary.

When will I make payment?

Your payment can be made monthly, quarterly, half-yearly and yearly for policyholders below age 56 on any of the plans.

Can I extend benefits to other family members?

Yes, you can. Both 180 Planand 360Planenable you to extend the benefits to other close family members such as spouse(s), parents and in-laws up to a maximum of 5 people only at the inception of the policy.

Can I increase my contributions to stay ahead of inflation?

Yes you can. The Plan allows you to increase your contributions when specified at the inception of the policy.

What is the tenor of the plan?

You determine the tenor of your plan up to a maximum of 15 years for policyholders at the age of 55 on the 180Plan. The tenor of the Plan for the Memorial Benefit Plan 360 is for the whole of life.

Is the plan transferable?

The Plan cannot be transferred to another person.