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- Trinidad & Tobago
- Alico Global
Juvenile Security Cash Plus
This plan is geared specifically to those parents who are interested in saving for their children’s future education and related costs.
This plan also provides maximum savings which guarantees the payment of the sum insured at age 65.
The JSCP allows for a Cash Payout at Age 21, however if this amount is not withdrawn, the accumulation would be increased correspondingly. If the withdrawal is made, the cash accumulation at age 65 would be lower
At age 21, the JSCP converts to the SCP with its full amount of coverage (the ultimate coverage) which averages about five times the initial coverage. The original premium remains unchanged.
At the time of the conversion any excess from the JSCP cash accumulation over and above the equivalent (SCP) accumulation, is available to be taken as a lumpsum
With Juvenile Security Cash Plus you get :
- The opportunity to make additional contributions to your child's policy
- Dividends as declared for Algico's Savings Plans
- Loans against the guaranteed portion of the Cash Accumulation
- Withdrawals from the Guaranteed Cash Accumulation - After 5 Years
Who is Eligible?
Children from the age of 0 to 15 years. Subsequently at Age 21 the JSCP converts to an SCP
Tell me about my Premiums
You can opt to pay your premiums either monthly, semi-annually or annually. With as little as $85.00 monthly, you can enjoy the benefits of long term investment and protection
What are my Payment Methods?
Premiums can be paid directly to our Cashiers or via, Salary Savings, Bankers Order Deductions or Post Dated cheques
Can I increase my cash accumulation?
Additional contributions can be made to the guaranteed portion of the cash accumulation after one year or if the cash payout at age 21 is not withdrawn
What will happen if I cannot pay my premiums?
Should your policy have Cash Value, an Automatic Premium Loan will be applied, however if it does not have Cash Value - your policy will lapse
How would my loved ones benefit?
The Initial Sum Assured is paid to the beneficiary if the insured dies before Age 21. The Ultimate Sum assured would be paid if the Insured dies after attaining Age 21
Subject to policy terms and conditions
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Educating your children
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