Savings and investment plans
Endowment Plans
Life insurance that pays out a lump sum on a date you choose, or in instalments along the way, and pays in full if you die before then.
- Sold in
- Guyana
- Currency
- GYD
- Plan
- 6000
- Underwritten by
- Demerara Mutual Life Assurance Society Limited
Who it suits
Who should consider Endowment Plans
For people saving towards a date: a child starting university, a business idea, or retirement, who also want their family protected if they die first.
Cover
What it pays
A regular endowment pays the sum insured on the maturity date if you are alive, and pays the same amount to your beneficiaries if you die during the term.
An anticipated endowment (E20 in Guyana; E20, E25 and E30 in the Eastern Caribbean) pays part of the sum insured at set points during the term, with the balance at maturity, while keeping the full death benefit throughout.
The plans are non-participating. Minimum cover is GYD 1,000,000 (XCD 50,000 in the Eastern Caribbean).
At a glance
Key features
- Lump sum at maturity, or instalments on the anticipated plans
- Full death benefit throughout the term
- Level premium for the whole term
- Builds a cash value; you can surrender the policy for it, or stop paying and keep a reduced paid-up sum insured
- Optional riders on the adult plans: waiver of premium (premiums waived after six months of total disability, to age 65) and accidental death and dismemberment (to age 65)
- Optional rider on E18: payor benefit, which keeps the policy going if the person paying dies or is totally disabled
Choose a term
Plan options in Guyana
| Option | Cover and issue ages |
|---|---|
| E10 | Cover for 10 years. Issue ages 18 to 60. |
| E15 | Cover for 15 years. Issue ages 18 to 55. |
| E20 | Anticipated endowment over 20 years, paying 20% of the sum insured at the end of years 5, 10 and 15 and 40% at year 20. Issue ages 18 to 50. |
| E60 | Cover to age 60. Issue ages 18 to 50. |
| E65 | Cover to age 65. Issue ages 18 to 55. |
Eligibility
Who can apply
Issue ages depend on the plan. Adult plans are issued from 18; E18 is issued for children from birth to 13. The plans are fully underwritten.
Maintained by Life OperationsUpdated
Talk to an agent
Not sure which plan fits? Ask an agent in Guyana.
Tell us what you want to cover or save for. An agent from your local office will call you back to explain the options and the cost.
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