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Retirement Terms and conditions

  • The promotion is not valid with other offers, privileges or promotions unless otherwise stated.
  • This promotion is valid from 20 February 2020 till 31 July 2020 (both days included), unless otherwise specified.
  • The Bank may vary, modify, add, delete or otherwise revise any of the terms and conditions governing the promotion.
  • The Bank reserves the right to determine at its sole and absolute discretion all matters arising out of or in connection with the promotion, including your eligibility for the Gifts and/or promotion and/or the amount of interest that you are entitled to receive. The Bank’s determination of all matters relating to this promotion shall be final and conclusive.
  • Only regular premium life insurance products are eligible for this promotion (My Future Saver, My Life Protect & International Term Assurance (ITA). The Wealth Accumulation Plan is excluded from this offer.
  • Minimum monthly premium amounts apply as per below:
Product Premium frequency Minimum premium requirement
My Future Saver and
My Life Protect
Monthly USD 750
International Term Assurance Monthly USD 200
International Term Assurance Annual USD 2,400
  • One-month premium waiver – all clients will be liable to pay the 1st premium, following which the Bank will credit the 2nd month’s premium into the eligible client’s bank account on the due date. For policies with payment terms other than monthly, the free premium will be proportioned to its 1-month equivalent. For example:
    • For a Quarterly premium of USD 2,400, 2nd month’s equivalent premium of USD 800 will be credited to the customer’s account post the free look period (Formula would be USD 2,400/3 = USD 800).
    • For a Semi-Annual premium of USD 6,000, 2nd month’s equivalent premium of USD 1,000 will be credited to the customer’s account post the free look period (Formula would be USD 6,000/6 = USD 1000)
    • For an Annual premium of USD 24,000, 2nd month’s equivalent premium of USD 2,000 will be credited to the customer’s account post the free look period (Formula would be USD 24,000/12 = USD 2,000