Retirement Savings Plan

What is it?

• Fransavenir is a retirement savings plan in USD coupled with a life insurance, covering natural and accidental death as well as total permanent disability
• The insured has the choice to determine the capital to be saved (cash value at the end of the contract period) as well as the amount to be insured (insured capital)
• The payments can be done on a monthly, quarterly, half-yearly or on a yearly basis with the possibility of being modified
• Payment can be constant or progressive
• The payment starts at USD 25 per month

Target:

• Age of applicant: minimum 16 years, maximum 70 years
• Period of scheme: minimum 4 years, maximum until client is 75 years old

Benefits:

• Return on savings is determined every year by the company to be applied on the real cash value of the contract.
• In case of death, the insured capital will be paid to the designated beneficiary(ies). In case the amount invested by the insured at the moment of his death is greater than the insured capital, the company will also pay this difference to the designated beneficiary(ies)
• In case of total permanent disability, the insured capital will be paid to the insured spread over a five years period

Contract Flexibility:

• Modify the sum insured and/or the cash value, the duration of the contract, the frequency of payment, the premium amount or the premium variation
• Make optional additional feedings and benefit from the return on savings
• Cancel the contract before maturity

• The insured may opt to withdraw at any time, total or part of the amount saved:

  • Within the first three years, the program will be closed and the client will get:
  1. 50% of his savings, during the 1^st year
  2. 70% of his savings, during the 2^nd year
  3. 90% of his savings, during the 3^rd year
  • As of the 4^th year, the insured may:
  1. Request a partial surrender by withdrawing an amount equal or less to 90% of the investment value
  2. Request a total surrender by withdrawing the whole amount saved and the program will be closed

At maturity, the insured has three options to receive the amount saved:

• As a lump sum amount
• As an annual income over a 10 year period
• As a life time annuity for further precautions (option to be chosen five years before maturity)