Cornerstone Universal Plan
Cornerstone Universal Plan (CUP) is a short-term savings plan that assists in providing a lump sum over a maximum period of time, 24 months, with a guaranteed interest that is tied to the Monetary Policy Rate (MPR) declared by the Central Bank of Nigeria (CBN), currently fixed as MPR minus 5%.
- You are eligible to take up this plan if you are under the age of 60
- Guaranteed interest rate, subject to annual review.
- Interest will be credited the moment payment is successful via using an ATM card.
- Interest policy loan, subject to a maximum of 70% of the fund balance.
- Policy duration is 24 months
- Policy can be surrendered after a minimum of 10months (subject to policy terms and conditions)
- Minimum contribution of N10,000.00
- Attracts surrender/paid up value.
- Creates capital for future needs (i.e. school fees, home ownership, start own business, etc.)
- The sum assured (Life cover) is the FIRST INSTALLMENT DEPOSIT paid on the policy e.g. if one choose a 24month N120,000.00 premium per annum policy, then the sum assured will be N10,000.00 (for monthly payment); N30,000.00 (for quarterly payment), N60,000.00 (for half yearly payment) and N120,000.00 (for yearly payment).
- In the event of early death (of investor) before maturity, the death benefit is the amount in the policyholders account (fund balance) plus the Life Cover mentioned.
- Maturity benefit is accumulated account balance as at maturity date
- Policy can be tendered as collateral with any financial institution.