Individual Life Assurance

In case of death, the sum assured less any partial maturity sum already paid becomes payable to the beneficiary. All bonuses on the policy are payable at maturity. Minimum premium is N5, 000.00 per month. This is another ideal plan for saving and building up a risk-free capital for the future. Provision is made for the benefit of the policy to be taken in phases of three equal term or period. One-third of the sum assured is cashed at the end of the first term; another one-third is cashed at the end of the second term while the last part is cashed at maturity inclusive of interest.

It is an ideal vehicle for providing risk-free capital for important events at a specified future date. The stated sum assured plus bonus is payable if the life assured survives the specified period. It provides excellent life cover by paying the sum assured if death occurs any time before the period. It also serves as a form of investment and can be used as a collateral security to raise loan from a financial institution. Minimum premium is N5, 000.00. The policyholder can take a loan on the policy subject to 90% of investment balance. It offers tax rebate.

Mortgage Protection Assurance Policy guarantees loans obtained for specific purpose such as housing, business etc. It guarantees that the outstanding balance  in respect of a mortgage loan which is repayable by level installments of capital and interest will be paid by Goldlink.

This is payable if the life assured should die before the loan is fully repaid provided of course the repayments under the loan are not in arrears and the basis on which the loan was taken has not changed.

Premium ceases on death of the life assured. No payment is made if the life assured survives the term selected.

This product provides cover for financial protection needs and future personal pension planning. It guarantees maximized investment yield by holding premium in high yielding units of equal value. It is designed to last a working life time maturing at age 55 or 60. It affords the policy holder to be paid a lump sum of total contribution plus interest at maturity. It also offers death benefit for the dependents of the policyholder, provided the policy is in force. Minimum premium is N5, 000.00 and policyholder is entitled to 80% policy loan on the surrender value. The policy can be used as collateral for loan applications with financial institutions. There is also free additional benefit of N50, 000.00 if there is sudden death of the life assured as a result of accident. It offers tax rebate and there is Retirement Annuity Benefit Option after maturity.

This product is an open-ended policy which can be cashed without the normal surrender penalty at any time after five years consecutive premiums have been paid. It guarantees maximized investment yield by holding premiums in high yielding units of equal value. It can be taken for a minimum period of five (5) years and multiple of five years i.e. 5,10,15,20 etc. Minimum premium is N5, 000.00 per month. It provides death benefit of the sum assured in the event of death of the policyholder to the named beneficiaries, provided the policy is in force. Flexi-dowment can be used as collateral to secure loan from financial institution. The Policy holder is entitled to 80% policy loan on the surrender value. There is also free additional benefit of N50, 000.00 if there is sudden death of the life assured as a result of accident before maturity. Flexi-dowment has annuity benefit after the maturity of the policy. It offers tax rebate.

This cover provides a capital sum payable at death. It is one of the cheapest forms of life assurance. It is appropriate for providing a capital sum required anytime death occurs. The premium is arranged to cease about the time the policy holder's income can be expected to diminish instead of continuing throughout life. It alleviates financial burden that may befall the dependent of the assured. It enables policy holder to enjoy tax rebate. Minimum premium is N5, 000.00 per month.

Education Endowment helps the policy holder to plan for school fees and other incidentals of a named child. This cover is designed such that its benefits are used for the education of a named child. It can be issued on the life of the father or the mother. There are two covers, the Secondary Education Cover and the University Education Cover.

The Secondary Education Cover starts paying increasing annual or terminal benefits from the 11th to the 16th birthdays of the child while the University Education Cover pays increasing annual or semester benefits from the 17th to the 20th birthdays of the child.

Minimum premium is N5, 000.00. The sudden death of the policy holder prior to maturity will not affect payment of the sum agreed provided policy holder paid premium up to the time of death. In the event of death of the named child (beneficiary), there is provision for policy holder to substitute with another child without altering the terms of the policy. Alternatively, the policy holder can apply for refund of premium paid to date. Premium paid so far can be used to purchase another policy. Other benefits include tax rebate and it can also be used as collateral for loan.

• This is a basic savings account that encourages policy holder to save for a specific purpose.
• Minimum duration of the policy is 2 years.
• Minimum premium is ₦5,000.00 per month.
• Guaranteed minimum interest rate of 4% per annum subject to prevailing interest rate in the market.
• Policy holders are entitled to 50% part withdrawal after one year and once in a year subject to tenure of the policy.
• GICO Savings enables policy holder to enjoy tax relief on his or her personal income.

• It is the cheapest and simplest form of Life Assurance.
• It gives a lump sum if death occurs within the duration of the policy.
• Minimum premium is ₦5,000.00 per month.
• You can commence the policy with relatively small premium for a large sum assured at death.
• It can be used as collateral security for a loan.
• Income tax rebate from tax office is guaranteed.

• It provides regular income to annuitant until death.
• A guaranteed regular income after retirement.
• It has flexible plans ranging from immediate to deferred annuity plans.
• Tax relief on contribution.
• It is designed to help individuals plan and enjoy their retirement benefits.
• It offers single life immediate annuity with a 10 year guaranteed period.
• It protects the annuitant against the risk of outliving assets (programmed withdrawal).