What is the EzySaver?
The EzySaver is a plan offered by MCIS Life. This is an insurance plan that gives you better financial security for the future that helps to keep up with the rising living standards. The EzySaver provides you with the plant to save money regularly while offering you good annual returns.
What is the Guaranteed Cash Payment in the EzySaver?
The Guaranteed Cash Payment or GCP is a payout that you will enjoy during the course of your policy. It is paid out at the end of every policy year starting from the end of the third and all the way until the policy matures. This ensures that you enjoy a steady stream of income into your account each year that grows from your basic premium paid. The GCP is paid out at the end of every year the policy is active starting from the third year. This is where:
- 3% of the basic sum assured is paid out annually between the third and the eighth year.
- 7% of the basic sum assured will be paid out between the ninth and fourteenth year
- 12% of the basic sum assured will be paid out between the fifteenth and twentieth year.
- In total, you would have received 132% of the basic sum assured after 20 years.
Do I get any protection from the EzySaver?
Yes, you do. A full payout of the basic premium will be paid to your beneficiary in the event of death during the first and second policy years. From the third to the twentieth years, 100% of the basic sum assured or the Total EzySaver basic premium will be paid. Meanwhile, you will also receive coverage in the event of accidental death before the age of 80. Should this unfortunate event occur, 100% of the basic sum assured will be paid in addition to the death coverage payment.
What do I get when the policy matures?
When the policy reaches its maturity year, you will be paid a lump sum of 120% of the Basic Sum Assured and your account value.
What are the highlights of this plan?
This plan ensures that you commit to a regular savings plan and it does not require any medical underwriting which makes it every easy and convenient to enroll.
What can I do with the GCP?
You can choose to withdraw the GCP as and when it is paid to your account. Alternatively, you can choose to leave the GCP in your account and re-invest it into several funds with MCIS Life where your account can grow more in the future.
What are my options for Premium Paying Terms?
You can choose either to enroll in a limited payment term of 10 years or to go for a full payment term of 20 years.