Choosing The Right Policy |
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PENSION PLAN |
Build your dreams,. secure your future.. With Eternal Pension Plan.
Some work to provide for their needs, others work to become financially stable. Both strive to increase their income, but the difference lies in what they do with their money. The former spend to improve quality of life; the latter save and make their money grow.
Income increases through sheer hard work, but savings and investment will make one financially stable.
Moreover, income earners will eventually retire or lose the capacity to earn.
Those who have become financially stable or at least have accumulated some savings will not suffer a big change in lifestyle. But those who depended solely on their income will have to adjust their standard of living.
Savings and investment is the key..
People would want to save, but are unable for lack of systematic way of saving. A Pension Plan facilitates discipline in savings. It is a comprehensive financial tool that helps income earners save and invest their money and enjoy insurance protection.
The flexible paying period and mode of payment facilitate a convenient and affordable program for savings. It's comparable to building your dream future by installment!
With programmed period for maturity, your money grows in time. Your time acquires cash value.
With the comprehensive insurance coverage, you protect your income and provide financial security for your loved ones.
5 Types of Pension Plans to choose from
1. e Pension Basic
2. e Pension Premium
3. e Pension Maxima
4. e Pension Family Builder
5. e Pension Plus
1. ePension Basic
ePension Basic is a flexible and affordable fund accumulation program that provides shorter or longer maturity period depending on one's needs.
This is more applicable to people who wish to save for a bigger maturity value or looks for bigger return of investment. This is a plan that is very appropriate to young income earners who may just want to save for a certain amount of fund that shall be available on the projected date in the future.
PLAN BENEFITS:
a. Guaranteed Maturity Value
The Amount, as chosen by the planholder depending on his needs, shall be available upon maturity of the plan. This amount is back-up by a Trust Fund managed by Eternal Plans' Trustee Banks.
b. Insurance Protection:
During the paying period, the planholder is covered with the following insurance benefits:
. Creditors Group Life Insurance (CGLI). A waiver of unpaid balance if the planholder dies before age 75. The beneficiary is entitled to get the maturity value on the maturity date.
. Waiver of Installment due to Total and Permanent Disability (WITPD). If the Planholder gets totally and permanently disabled before age 66, the installments will be considered paid as they fall due. On the maturity date, the planholder receives/gets the maturity value.
. Accidental Death and Dismemberment (AD&D) Benefit. A Cash Benefit equal to 100% of the Contract Price is given to the beneficiary if the Planholder dies of accidental cause before age 66. On the maturity date, the beneficiary gets the maturity value.
In case of dismemberment, the PLANHOLDER shall receive an amount equal to 100% of the PNP or a portion thereof according to the following schedule:
Loss of Both Hands |
100% of the Contract Price |
Loss of Both Feet |
100% of the Contract Price |
Loss of Sight of Both eyes |
100% of the Contract Price |
Loss of One hand and One foot |
100% of the Contract Price |
Loss of One Hand and Sight of One eye |
100% of the Contract Price |
Loss of One Foot and Sight of one eye |
100% of the Contract Price |
Loss of one hand or one foot |
50% of the Contract Price |
Loss or Sight of one eye |
50% of the Contract Price |
. Group Yearly Renewable Term Insurance (GYRT). Cash Benefit equal to 100% of the Contract Price is given to the beneficiary, if the Planholder dies while paying for the plan and before age 75.
Graphical Illustration
4 Options to choose from in availing of the Maturity Value:
1. Full Pension Benefit (FPB) - The planholder receives the entire amount of the Maturity Value in lump sum within 30 days following the Maturity Date.
2. Periodic Pension Benefit (PerPB) - The Planholder may receive the interest of the maturity value on a monthly, quarterly, semi-annual or annual mode for a period of 20 years and still receive the maturity value after receiving the interests.
3. Partial Pension Benefits (ParPB) - The Planholder is given the option to withdraw a portion of the Maturity Value in lump sum and receive a periodic pension benefit based on the remaining balance of the maturity value. Should the planholder decide to stop receiving the periodic pension, he shall receive the balance of his plan Maturity Value within 30 days following the termination and last payment of the periodic pension.
4. Fixed Period Pension Benefit (FPPB) - The Planholder receives a yearly Fixed Period Pension Benefit for either 4 or 5 years from the maturity date. The amount to be given shall be computed by dividing the Maturity Value by 4 or 5 years. The succeeding annual benefits shall include the interest of the remaining balance.
OTHER FEATURES OF THE PLAN:
TRANSFERABILITY - The Planholder may sell, transfer or convey his rights, interest and benefit under this agreement subject to the conditions stipulated in the contract.
GRACE PERIOD - Failure or inability of the Planholder to remit any contribution when due renders the Pension Plan in a state of default. However, the Planholder is given a Grace Period of sixty (60) days from due date within which to settle the unremitted contributions after the grace period, the plan is considered lapsed.
REINSTATEMENT - A lapsed plan can be reinstated within two years subject to the conditions stipulated in the contract.
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2. ePension Premium
e Premium Pension Plan has the benefits of e Pension Basic , but with extended insurance protection during the growth period, that gives cash benefit to beneficiaries if the planholder dies before the maturity of the plan.
This is more applicable for people who have loved ones, that would suffer a financial loss if he/she were to die.
PLAN BENEFITS:
a. Guaranteed Maturity Value
The Amount, as chosen by the planholder depending on his needs, shall be available upon maturity of the plan. This amount is back-up by a Trust Fund managed by Eternal Plans' Trustee Banks.
b. Insurance Protection:
1. Insurance Protection during the paying period:
During the paying period, the planholder will be covered with the following insurance benefits:
. Creditors Group Life Insurance (CGLI). Waiver of unpaid balance if the planholder dies before age 75. The beneficiary is entitled to get the maturity value on the maturity date.
. Waiver of Installment due to Total and Permanent Disability (WITPD). If the Planholder gets totally and permanently disabled before age 66, the installments will be considered paid as they fall due. On the maturity date, the planholder receives the maturity value.
. Accidental Death and Dismemberment (AD&D) Benefit. A Cash Benefit equal to 100% of the Contract Price is given to the beneficiary if the Planholder dies of accidental cause before age 66.
In case of dismemberment, the PLANHOLDER shall receive an amount equal to 100% of the PNP or a portion thereof according to the following schedule:
Loss of Both Hands |
100% of the Contract Price |
Loss of Both Feet |
100% of the Contract Price |
Loss of Sight of Both eyes |
100% of the Contract Price |
Loss of One hand and One foot |
100% of the Contract Price |
Loss of One Hand and Sight of One eye |
100% of the Contract Price |
Loss of One Foot and Sight of one eye |
100% of the Contract Price |
Loss of one hand or one foot |
50% of the Contract Price |
Loss or Sight of one eye |
50% of the Contract Price |
2. Extended Insurance Protection:
. Group Yearly Renewable Term Insurance (GYRT). Cash Benefit equal to 100% of the Contract Price is given to the beneficiary, if the Planholder dies before the maturity of the plan and before age 75.
4 Options to choose from in availing of the Maturity Value:
1. Full Pension Benefit (FPB) - The planholder receives the entire amount of the Maturity Value in lump sum within 30 days following the Maturity Date.
2. Periodic Pension Benefit (PerPB) - The Planholder may receive the interest of the maturity value on a monthly, quarterly, semi-annual or annual mode for a period of 20 years and still receive the maturity value after receiving the interests.
3. Partial Pension Benefits (ParPB) - The Planholder is given the option to withdraw a portion of the Maturity Value in lump sum and receive a periodic pension benefit based on the remaining balance of the maturity value. Should the planholder decide to stop receiving the periodic pension, he shall receive the balance of his plan Maturity Value within 30 days following the termination and last payment of the periodic pension.
4. Fixed Period Pension Benefit (FPPB) - The Planholder receives a yearly Fixed Period Pension Benefit for either 4 or 5 years from the maturity date. The amount to be given shall be computed by dividing the Maturity Value by 4 or 5 years. The succeeding annual benefits shall include the interest of the remaining balance.
OTHER FEATURES OF THE PLAN:
TRANSFERABILITY - The Planholder may sell, transfer or convey his rights, interest and benefit under this agreement subject to the conditions stipulated in the contract.
GRACE PERIOD - Failure or inability of the Planholder to remit any contribution when due renders the Pension Plan in a state of default. However, the Planholder is given a Grace Period of sixty (60) days from due date within which to settle the unremitted contributions after the grace period, the plan is considered lapsed.
REINSTATEMENT - A lapsed plan can be reinstated within two years subject to the conditions stipulated in the contract.
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3. ePension Maxima
If you are a head of a family or somebody depends on you, this is your pension program. It gives you ample insurance protection and longer period of coverage.
It also gives you maximum return of invest as 100% of the Contract Price of your plan is returned to you five years after you shall have aviailed of the Maturity Value.
PLAN BENEFITS:
a. Guaranteed Maturity Value
The Amount, as chosen by the planholder depending on his needs, shall be available upon maturity of the plan. This amount is back-up by a Trust Fund managed by Eternal Plans' Trustee Banks.
b. Insurance Protection:
1. Insurance Protection during the paying period:
During the paying period, the planholder will be covered with the following insurance benefits:
o Creditors Group Life Insurance (CGLI). Waiver of Balance if the planholder dies before age 75. The beneficiary is entitled to get the maturity value on the maturity date.
o Waiver of Installment due to Total and Permanent Disability (WITPD). If the Planholder gets totally and permanently disabled before age 66, the installments will be considered paid as it falls due. On the maturity date, the planholder receives the maturity value.
o Accidental Death and Dismemberment (AD&D) Benefit. Cash Benefit for the beneficiary equal to 100% of the Contract Price if the Planholder dies of Accidental cause before age 66.
In case of dismemberment, the PLANHOLDER shall receive an amount equal to 100% of the PNP or a portion thereof according to the following:
Loss of Both Hands |
100% of the Contract Price |
Loss of Both Feet |
100% of the Contract Price |
Loss of Sight of Both eyes |
100% of the Contract Price |
Loss of One hand and One foot |
100% of the Contract Price |
Loss of One Hand and Sight of One eye |
100% of the Contract Price |
Loss of One Foot and Sight of one eye |
100% of the Contract Price |
Loss of one hand or one foot |
50% of the Contract Price |
Loss or Sight of one eye |
50% of the Contract Price |
2. Extended Insurance Protection:
o Group Yearly Renewable Term Insurance (GYRT). Cash Benefit equal to 100% of the Maturity Value (MV) is given to the beneficiary if the Planholder, before the maturity of the plan and before age 75.
c. Return of Installment:
Five years after the maturity date, the planholder or beneficiary is entitled to receive 100% of the Contract Price as Return of Installments (ROI).
4 Options to choose from in availing of the Maturity Value:
1. Full Pension Benefit (FPB) - The planholder receives the entire amount of the Maturity Value in lump sum within 30 days following the Maturity Date.
2. Periodic Pension Benefit (PerPB) - The Planholder may receive the interest of the maturity value on a monthly, quarterly, semi-annual or annual mode for a period of 20 years and still receive the maturity value after receiving the interests.
3. Partial Pension Benefits (ParPB) - The Planholder is given the option to withdraw a portion of the Maturity Value in lump sum and receive a periodic pension benefit based on the remaining balance of the maturity value. Should the planholder decide to stop receiving the periodic pension, he shall receive the balance of his plan Maturity Value within 30 days following the termination and last payment of the periodic pension.
4. Fixed Period Pension Benefit (FPPB) - The Planholder receives a yearly Fixed Period Pension Benefit for either 4 or 5 years from the maturity date. The amount to be given shall be computed by dividing the Maturity Value by 4 or 5 years. The succeeding annual benefits shall include the interest of the remaining balance.
OTHER FEATURES OF THE PLAN:
TRANSFERABILITY - The Planholder may sell, transfer or convey his rights, interest and benefit under this agreement subject to the conditions stipulated in the contract.
GRACE PERIOD - Failure or inability of the Planholder to remit any contribution when due renders the Pension Plan in a state of default. However, the Planholder is given a Grace Period of sixty (60) days from due date within which to settle the unremitted contributions after the grace period, the plan is considered lapsed.
REINSTATEMENT - A lapsed plan can be reinstated within two years subject to the conditions stipulated in the contract.
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4. ePension Family Builder
This is more applicable for spouses who wish to provide for their family. It has insurance protection just like e Maxima Pension Plan (bigger cash benefit in case of death), plus double protection benefit.
Double Protection Benefit means that another person is named to be a co-planholder (co-insured). That in case the co-planholder dies, all unpaid installments are considered paid and the maturity value is available upon maturity.
PLAN BENEFITS:
a. Guaranteed Maturity Value
The Amount, as chosen by the planholder depending on his needs, shall be available upon maturity of the plan. This amount is back-up by a Trust Fund managed by Eternal Plans' Trustee Banks.
b. Insurance Protection:
1. Insurance protection during the paying period:
During the paying period, the planholder will be covered with the following insurance benefits:
o Creditors Group Life Insurance (CGLI). Waiver of Balance if the planholder dies before age 75. The beneficiary is entitled to get the maturity value on the maturity date.
o Waiver of Installment due to Total and Permanent Disability (WITPD). If the Planholder gets totally and permanently disabled before age 66, the installments will be considered paid as it falls due. On the maturity date, the planholder receives the maturity value.
o Accidental Death and Dismemberment (AD&D) Benefit. Cash Benefit for the beneficiary equal to 100% of the Contract Price if the Planholder dies of Accidental cause before age 66.
In case of dismemberment, the PLANHOLDER shall receive an amount equal to 100% of the PNP or a portion thereof according to the following:
Loss of Both Hands |
100% of the Contract Price |
Loss of Both Feet |
100% of the Contract Price |
Loss of Sight of Both eyes |
100% of the Contract Price |
Loss of One hand and One foot |
100% of the Contract Price |
Loss of One Hand and Sight of One eye |
100% of the Contract Price |
Loss of One Foot and Sight of one eye |
100% of the Contract Price |
Loss of one hand or one foot |
50% of the Contract Price |
Loss or Sight of one eye |
50% of the Contract Price |
2. Extended Insurance protection
o Group Yearly Renewable Term Insurance (GYRT). Cash Benefit for the beneficiary equal to 100% of the Maturity Value (MV) if the Planholder dies one year after the contestability period, before the maturity of the plan and before age 75.
C. Double Protection:
Double Protection Benefit (DPB). A Co-planholder is provided with a
Creditor's Group Life Insurance. If the co-planholder dies before age 75, the unpaid balance will be considered fully paid and the Maturity Value will be available on maturity date.
D. Return of Installment:
Five years after the maturity date, the planholder or beneficiary is entitled to receive 100% of the Contract Price as Return of Installments (ROI).
4 Options to choose from in availing of the Maturity Value:
1. Full Pension Benefit (FPB) - The planholder receives the entire amount of the Maturity Value in lump sum within 30 days following the Maturity Date.
2. Periodic Pension Benefit (PerPB) - The Planholder may receive the interest of the maturity value on a monthly, quarterly, semi-annual or annual mode for a period of 20 years and still receive the maturity value after receiving the interests.
3. Partial Pension Benefits (ParPB) - The Planholder is given the option to withdraw a portion of the Maturity Value in lump sum and receive a periodic pension benefit based on the remaining balance of the maturity value. Should the planholder decide to stop receiving the periodic pension, he shall receive the balance of his plan Maturity Value within 30 days following the termination and last payment of the periodic pension.
4. Fixed Period Pension Benefit (FPPB) - The Planholder receives a yearly Fixed Period Pension Benefit for either 4 or 5 years from the maturity date. The amount to be given shall be computed by dividing the Maturity Value by 4 or 5 years. The succeeding annual benefits shall include the interest of the remaining balance.
OTHER FEATURES OF THE PLAN:
TRANSFERABILITY - The Planholder may sell, transfer or convey his rights, interest and benefit to another person called the transferee subject to the conditions stipulated in the contract.
GRACE PERIOD - Failure or inability of the Planholder to remit any contribution when due renders the Pension Plan in a state of default. However, the Planholder is given a Grace Period of sixty (60) days from due date within which to settle the unremitted contributions after the grace period, the plan is considered lapsed.
REINSTATEMENT - A lapsed plan can be reinstated within two years subject to the conditions stipulated in the contract.
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5. ePension Plus
This Plan are for people who wish to enjoy a steady stream of income. Cash Allowances are given on an annual basis depending on when one wishes to get them, either 1 year after full payment and every year thereafter or on the 10th year after purchasing the plan, for a period of 5 years or 9 years. . The Maturity Value is given on the maturity date.
This Pension program provides extra funds for annual programmed expenses over a period of several years.
PLAN BENEFITS:
a. Guaranteed Maturity Value
The Amount, as chosen by the planholder depending on his needs, shall be available upon maturity of the plan. This amount is back-up by a Trust Fund managed by Eternal Plans' Trustee Banks.
b. Insurance Protection:
1. insurance protection during the Paying Period:
During the paying period, the planholder will be covered with the following insurance benefits:
o Creditors Group Life Insurance (CGLI). Waiver of Balance if the planholder dies before age 75. The beneficiary is entitled to get the maturity value on the maturity date.
o Waiver of Installment due to Total and Permanent Disability (WITPD). If the Planholder gets totally and permanently disabled before age 66, the installments will be considered paid as it falls due. On the maturity date, the planholder receives the maturity value.
o Accidental Death and Dismemberment (AD&D) Benefit. Cash Benefit for the beneficiary equal to 100% of the Contract Price if the Planholder dies of Accidental cause before age 66.
In case of dismemberment, the PLANHOLDER shall receive an amount equal to 100% of the PNP or a portion thereof according to the following:
Loss of Both Hands |
100% of the Contract Price |
Loss of Both Feet |
100% of the Contract Price |
Loss of Sight of Both eyes |
100% of the Contract Price |
Loss of One hand and One foot |
100% of the Contract Price |
Loss of One Hand and Sight of One eye |
100% of the Contract Price |
Loss of One Foot and Sight of one eye |
100% of the Contract Price |
Loss of one hand or one foot |
50% of the Contract Price |
Loss or Sight of one eye |
50% of the Contract Price |
2. Extended Insurance Protection:
o Group Yearly Renewable Term Insurance (GYRT). Cash Benefit equal to 100% of the Contract Price is given to the beneficiary, if the Planholder dies while paying for the plan and before age 75.
C. Cash Allowance:
Annual cash allowances shall be given to the planholder before the maturity of the plan. The amount and the duration of the release of the cash allowances shall depend on the program adopted by the planholder.
5 years paying
period
4 Options to choose from in availing of the maturity value:
1. Full Pension Benefit (FPB) - The planholder receives the entire amount of the Maturity Value in lump sum within 30 days following the Maturity Date.
2. Periodic Pension Benefit (PerPB) - The Planholder may receive the interest of the maturity value on a monthly, quarterly, semi-annual or annual mode for a period of 20 years and still receive the maturity value after receiving the interests.
3. Partial Pension Benefits (ParPB) - The Planholder is given the option to withdraw a portion of the Maturity Value in lump sum and receive a periodic pension benefit based on the remaining balance of the maturity value. Should the planholder decide to stop receiving the periodic pension, he shall receive the balance of his plan Maturity Value within 30 days following the termination and last payment of the periodic pension.
4. Fixed Period Pension Benefit (FPPB) - The Planholder receives a yearly Fixed Period Pension Benefit for either 4 or 5 years from the maturity date. The amount to be given shall be computed by dividing the Maturity Value by 4 or 5 years. The succeeding annual benefits shall include the interest of the remaining balance.
OTHER FEATURES OF THE PLAN:
TRANSFERABILITY - The Planholder may sell, transfer or convey his rights, interest and benefit to another person called the transferee subject to the conditions stipulated in the contract.
GRACE PERIOD - Failure or inability of the Planholder to remit any contribution when due renders the Pension Plan in a state of default. However, the Planholder is given a Grace Period of sixty (60) days from due date within which to settle the unremitted contributions after the grace period, the plan is considered lapsed.
REINSTATEMENT - A lapsed plan can be reinstated within two years subject to the conditions stipulated in the contract.
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