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Retirement Savings and Investment Plans

 


Have you ever wondered:

How much will your income be after you retire?

Will your income after you retire be enough to secure the same life style you already enjoy?

What is your reward after years of hard work?

What are your retirement dreams?

Do you know that you can start planning for your future now?

Prepare yourself for the future … now.


Allianz Life Assurance Company Egypt in collaboration with HSBC Bank Egypt, brings you a variety of tailored retirement programs which meet different needs and risk profiles therefore helping you to secure your financial future.

Plan Objective


It's a long–term savings plan where you can save on regular basis an affordable premium in accordance to your financial situation, aiming to assist in meeting the financial goals for retirement. Additionally, the plan will provide you with a protection benefit, where in the unfortunate event of loss of life (God forbid) or disability, a lump sum of money would be paid to the beneficiaries.

Retirement Savings Plan


A savings scheme that's not only affordable, but also tailored to best suit your budget and time horizon.

Main features:

Easy to invest with monthly premiums starting from [EGP 250 or USD 50].

On annual basis Allianz Life Assurance Company Egypt announces the profit participation for its policyholders which is then reflected on your investment account

*Retirement Savings Plan is underwritten by Allianz Life Assurance Company Egypt and is subject to Allianz policy terms & conditions.

FAQ

Retirement Savings Plan Key Features

Retirement Investment Plan


Designed to suit your risk profile, the Retirement Investment Plan offers several options according to the type of investor you are.

Main features:

The policy offers you 3 types of investment profiles to choose from based on your risk profile, and the currency of the policy. The investment profiles differ based on their investment scope and risk exposure. The investment profile options are as follows:

Fund TypeInvestment Strategy and spreads.
Cautious (EGP)


Cautious (USD)
From 0 to 25% of the fund value is invested in equity or equity mutual funds &
From 75% to 100% of the fund value is invested in fixed income securities.

From 0 to 15% of the fund value is invested in equity or equity mutual funds &
From 85% to 100% of the fund value is invested in fixed income securities.
Balanced (EGP)


Balanced (USD)
From 20% to 50% of the fund value is invested to equity or equity mutual funds &
From 50% to 80% of the fund value is invested in fixed income securities.

From 10% to 30% of the fund value is invested in equity or equity mutual funds &
From 70% to 90% of the fund value is invested in fixed income securities
Adventurous (EGP)From 20% to 100% of the fund value is invested in equity or equity mutual funds &
From 0 to 80% of the fund value is invested in liquid or cash instruments.

Easy to invest with monthly premiums starting from EGP 1,000 or USD 170.

You have the option of switching between funds during the term of the plan.

You can get an update on the Fund Performance by clicking on the following link:

*Retirement Investment Plan is underwritten by Allianz Life Assurance Company Egypt and is subject to Allianz policy terms & conditions.

Retirement Investment Plan Key Features

Top

General features in both plans

Available in both Egyptian Pound and US Dollar*

Premium payment through a free Direct Debit service from any of your HSBC Bank Egypt accounts to Allianz Life Assurance Company Egypt

Payment at maturity can be received through a lump sum payment or annuities over an agreed period of time or a mix of both.

Lump sum insurance amount paid to the beneficiaries in the unfortunate cases of loss of life of the insured.

Optional total permanent disability cover, where a lump sum insurance amount is paid to the insured in the unfortunate case of total disability.

Policyholders have the option to pay an additional investment contribution into the plan at any time.

Minimum Policy Term: 5 years

Minimum entry age to apply for a policy is 21.

Maximum entry age (for loss of life cover) is 60. This cover can insure you up to the age of 65 for the Retirement Savings Plan product and 75 for the Retirement Investment Plan product.

Maximum entry age (for disability cover) is 55. This cover can insure you up to the age of 60.

The policy surrender is permitted after the 2nd year

Frequency of contribution: Annually – Half Yearly – Quarterly – Monthly

* Adventurous portfolio only available in EGP.

* All insurance products are offered by Allianz Life Assurance Company Egypt and subject to Allianz policy terms & conditions.

Frequently asked questions

Who is the insurer?
The Retirement Plans are offered and underwritten by Allianz Life Assurance Company Egypt.

What is the policy term?
The policy is tailor-made based on the customer's needs, with a minimum policy term of five years.

What is the insurance cover?
In case of the loss of life or disability of the insured, the insurance company will pay a lump sum amount to the beneficiaries.

Can I make single payments in addition to regular premium payments?
The Retirement Plans allow you to make single payments into the policy to boost your savings at any time. The maximum amount of any one additional investment contribution to be injected is 10 times the annual premium. Minimum additional investment contribution amount is 1,200 EGP.

Can I surrender the policy before maturity?
The surrender rules are as follows:

  • During the first 2 years, there is no surrender value
  • From the 3rd to the 10th,year, 95% of the investment account
  • From the 11th year and above, 100% from the investment account
  • Surrender value can be less than the total premiums paid.

What are the risks involved for Retirement Investment Plan?

  • The level of risk and potential investment performance depend on the funds chosen. The values of the units are volatile and therefore can either go up as well as down
  • Return Risk: The value of your plan can go down and you may get back less than the returns shown in the illustration if investment growth is lower than illustrated, or charges and stamps increase above those illustrated or Automatic Contribution Loan takes effect to finance any unpaid premiums
  • Inflation Risk: You must consider the effect that inflation may have on the real value of your investment and potential returns
  • If you surrender your plan within the first 2 years, you will not have any surrender value

What are the risks involved for Retirement Savings Plan?
You may get back less than the amount shown to you on the quotation offer illustration due to the following risk factors:

  • Return Risk: value of your plan can be less than illustrated if the actual profit participation declared is lower than illustrated, or charges and stamps increase above those illustrated or Automatic Contribution loan takes effect to finance any unpaid premiums. For more details on Automatic Contribution Loan please refer to the section below
  • Inflation Risk: You must consider the effect that inflation may have on the real value of your investment and potential returns
  • Cancelation Risk: If you cancel your plan, subject to a written notice to Allianz Egypt, within the first two years, you will not have any surrender value

What is the claim process?

  • All claims are handled directly by Allianz Life Assurance Company Egypt
  • The client or beneficiaries must visit Allianz Life Assurance Company Egypt (headquarters) upon the occurrence of any of the insured events in order to receive the policy benefits
  • Allianz Life Assurance Company Egypt requires specific documents when applying for a claim. Please refer to policy document or contact Allianz Life Assurance Company Egypt for the required documents

Disclaimer:
The plans are underwritten by Allianz Life Assurance Company Egypt and are subject to Allianz Policy terms & conditions.
This is only general information and does not constitute an offer to buy or sell an insurance product or service. It is also not intended to provide any insurance or financial advice. A person interested in this product should read and consider the product brochures, terms & conditions, key features document, benefits illustrations in deciding whether to buy this product. You can ask for these documents from any of our branches.
Buying a life insurance plan is a long-term commitment. An early termination of the plan usually incurs high cost and the surrender value payable (if applicable) may be less than the total premiums paid. The terms & conditions applicable to these products will be of Allianz Life Assurance Egypt and the applicant or the plan holder will not hold HSBC responsible for processing, claims or otherwise.
For the avoidance of doubt, HSBC does not provide tax advice and you should seek your own external tax advice in relation to this product

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