Mutual Ispp,Annuity,Cep

 MUTUAL INDIVIDUAL SAVING & PROTECTION
PLAN
 MUTUAL ANNUITY PLAN
 MUTUAL CHILD EDUCATION PLAN

DESCRIPTION, BENEFITS AND
FEATURES

 The mutual individual savings and protection
plan is designed specifically for people in
employment, business people, artisans and
other categories of income earners.
 The plan is meant to help the policy holders
achieve their financial goals regardless of what
they may be whether starting your own
business, developing a property or buying a
piece of real estate, children education,
retirement, etc

 The plan helps the policy holders actualize
their written down financial goals.
 The plan helps policy holders ‘pay themselves
first’ which is the key to financial
independence
 The plan incorporates the three legs on which
financial independence stands namely savings,
investment and insurance

 This plan has tax benefits to the policy holder
by reducing the personal income tax liability.In
this way government indirectly subsidizes the
plan.
 This plan offers very competitive ROI of 7.5%
compounded annualy which is higher than
what is obtainable today in the money market.
 This plan guarantees the holder an assured ROI
not subject to economic vagaries.

 The plan can be used in estate
planning[inheritance matters] because the
proceeds are paid to next of kin and non-
taxable
 The life cover on this plan guarantees that the
loved ones are well looked after in case of
death to the policy holder

 This plan involves a contribution from the
policy holder which is a function of the sum
assured[target amount] and the tenure.
 The contribution[premium] can be made
monthly, quaterly, semi-annually or yearly
 The plan has a life cover which entitles named
beneficiaries to an amount equal to the sum
assured in case of death of the policy holder

 The mode of payment can be by direct debit or
by cheque.
 Policy holder will receive credit alert on
making their premium payment and will
receive regular statement of account.
 Group of people together taking the plan also
offers additional benefits.

MUTUAL ISPP OTHERS

 7.5% compound interest  Between 3 and 5%
p.a interest
 Life cover  No life cover
 Helps cultivate savings  Allows access to funds
culture at anytime including
 Helps get tax rebate weekends
 Proceeds are non-  Offers no tax rebate
taxable  Proceeds are taxed
[WHT, VAT]

 The mutual annuity plan is designed for
workers who are desirous of a financially
secure and blissful retirement.
 The plan is designed for salary earners to
continue to earn a reasonable percentage of
their salaries before after they have retired.

 The plan ensures that the holder continues to
receive steady streams of income after
retirement.
 The plan helps policy holders transit from paid
employment to retirement in a painless and
stress-free manner.
 Former employees who have become
accustomed to regular monthly income will not
have to deal with the uncertainties in their cash
flows which may be the case without a reliable
annuity plan.

 Flexibility in our annuity plans allows holders
to enjoy life cover and tax rebate during the
period of deferment.
 Our different types of annuity plans( deferred
annuity, annuity certain, annuity guaranty)
helps prospects choose the particular plan that
is ideal for them considering their age, years to
retirement, etc.

The different Mutual Annuity plans are:

 Mutual Annuity Certain
 Mutual Annuity Guaranty
 Joint Annuity

All three could be either Immediate or Deferred.

 The annuity payment period is for a fixed length of
time after which payments will cease.
 An initial lump sum of money is deposited and the
monthly payment is computed on the basis of the lump
sum.
 The annuity payments can either be deferred to
commence at a future date or can commence
immediately after deposit of lump sum.
 If annuity is deferred, the holder enjoys compound
interest on lump sum, free life cover and tax rebate
during the period of deferment
 On death of policy holder before the period ends, the
payments will continue to be made to the named next
of kin till the end of the period.

 This plan once it commences involves payments to the holder
for the rest of their life.
 The payments ceases on death of the holder.
 Payments cannot be transferred to a next of kin.
 An initial lump sum of money is deposited and the monthly
payment is computed on the basis of the lump sum.
 The annuity payments can either be deferred to commence at a
future date or can commence immediately after deposit of lump
sum.
 If annuity is deferred, the holder enjoys compound interest on
lump sum, free life cover and tax rebate during the period of
deferment
 On death of policy holder before the period ends, the payments
will continue to be made to the named next of kin till the end of
the period

 This involves two people usually a couple.
 Single payments are made to them however payment
continues on the death of one of them and only ceases when
the last survivor dies.
 An initial lump sum of money is deposited and the monthly
payment is computed on the basis of the lump sum.
 The annuity payments can either be deferred to commence
at a future date or can commence immediately after deposit
of lump sum.
 If annuity is deferred, the holder enjoys compound interest
on lump sum, free life cover and tax rebate during the
period of deferment
 On death of policy holder before the period ends, the
payments will continue to be made to the named next of kin
till the end of the period

 The Mutual Children Education Plan is for
parents desirous of giving their children the
best education.
 The plan is meant to enable parents plan the
education of their children ahead of time
especially at the secondary and tertiary levels.
 The plan is also a way of ensuring that children
get the quality of education desired for them by
their parent(s) even in the event of the death of
that parent(s).

 The plan ensures that the holder puts aside a
portion of their current income for the future
education of their children.
 The plan helps policy holders to afford the
desired quality of education for their children
 This plan has tax benefits to the policy holder
by reducing the personal income tax liability.In
this way government indirectly subsidizes the
plan.

 CLEMENT OKUNDAYE, ACA,CISA,ACTI,ACS
 08039286522
 EMAIL: hillcrestpro@gmail.com

Mutual Ispp,Annuity,Cep

More Related Content

What's hot

Viewers also liked

Similar to Mutual Ispp,Annuity,Cep

Mutual Ispp,Annuity,Cep