The Wekeza Maisha/Invest life Unit Trust is the first investment cum insurance scheme to be established by UTT AMIS in the country.
Unit Linked Insurance Plan (ULIP) is the combination of insurance and unit trust (investment) benefits (i.e. a marriage of Insurance and Unit Trust) ULIP is a one-stop solution providing:
-Life Protection (Insurance Benefits)
-Savings and long term capital appreciation.
More than 99% of your money is invested in income generating instruments and Less than 1% of your money covers Insurance Premiums.
Objectives: An open –end balanced fund which seeks to generate long term capital appreciation, while also offering additional insurance benefits in the form of Life Insurance, Personal Accident/Total Disability and Funeral expenses cover.
Eligible Investor(s) and Entry Age: Open for Investment to resident individual Tanzanians and Non Resident individual Tanzanians in the age group of 18 to 55 years.
Tenure: The tenure of a plan membership under the scheme is 10 years.
Liquidity: Partial repurchase is allowed after completion of 5 years.
Investment options: The scheme offers investment under two options-(a) Regular Contribution Option and (b) Single Contribution Option
Contribution Amount :( a) Minimum Contribution Amount: TZS.1million (however an investor may choose a regular contribution of TZS 8340/- per month and (b) Maximum Contribution Amount: No Limit
Life Insurance Benefits (Death or Total or Permanent Disability)
(a)Regular Contribution Option: Life cover equal to unpaid but not due amount of the chosen Contribution amount subject to a maximum of TZS.25 Million and (b)Single Contribution Option: Life cover equal to the chosen contribution amount subject to the maximum of TZS.25 Million.
Personal Accident Benefits: Available to the extent of 20% of the chosen contribution amount subject to maximum cover amount of TZS.5Million (irrespective of chosen investment option)
Funeral Expenses Benefits: Available per member to the extent of TZS 500,000/= irrespective of chosen investment option/contribution amount.
Loyalty Bonus: Provision to pay loyalty bonus on completion of plan membership period or if death occurs during last year of the plan period (7% on single contribution and 5% on regular contribution)
News & Events
VACANCY ANNOUNCEMENT - MANAGING DIRECTOR
The deadline for submission of application is on 10th November, 2017 at 3:30 pm