Family Master Plan Policy (FMP)

This product is designed to suit the personal needs of an individual and his/her family. The plan covers self, immediate family and extended family. To this end it is the only product of its kind in the market.  Some of the best features of this policy are simplicity and flexibility.

The FMP offers an attractive combination of savings and life assurance to better meet client’s needs.The product in a nut shell provides for:

• Life Cover for self and covered dependants:  Take advantage of this benefit to cover your nuclear family, parents, brothers and sisters, uncles and aunts as well as cousins.

• Waiver of premium: free continuance of cover for nuclear family:  On death of life assured while the policy is in force Pioneer will continue covering wife/husband and children for as long as the life assured, had he lived, would have been 65 years old.  This benefit is available at no additional cost as long as members of the nuclear family were on cover at the point of death of the life assured.

• Annual partial maturities as from the 3rd year: Three years from the date you take your policy we will pay you partial maturity of 10% of your sum assured.  Every year thereafter, you will receive similar amount for as long as you maintain the policy in force. Should there be a reason to stop this policy any time after 3 years, you may apply for the policy cash value which will be paid and policy terminated.