Retirement Plan
Make today count so you can live the life you love tomorrow.
| Plan options | Premiums | Option to borrow? | Potential bonuses? | |
|---|---|---|---|---|
| 5 to 20 years | Monthly, Annually |
Yes | Yes |
Here's what you get:
- Flexible premiums to suit your budget and risk comfort levels
- Should you die or be made disabled you have an option to waive the premium
- Be paid a potential bonus when your investment achieves a higher return
Plus:
- Distribute your retirement savings to your loved ones if you pass away
- Your contribution will be invested by ALICO Gulf to protect against any investment losses
See how far one monthly premium goes
Here's an example provided by ALICO Gulf based on a male living until 99 years old:
| Entry age | Retirement age | Monthly premium | Agreed annuity | Agreed face value | Benefit until aged 99 |
|---|---|---|---|---|---|
| 25 | 45 | $670 | $10,000 | $216,000 | $540,000 |
| 30 | 50 | $927 | $15,000 | $298,976 | $735,000 |
| 35 | 55 | $1,127 | $20,000 | $363,620 | $880,000 |
| 40 | 60 | $1,269 | $25,000 | $409,350 | $975,000 |
| 45 | 65 | $1,353 | $30,000 | $436,341 | $1,020,000 |
| 50 | 70 | $1,381 | $35,000 | $445,407 | $1,015,000 |
| 55 | 70 | $2,280 | $40,000 | $509,036 | $1,160,000 |
The above table is provided by ALICO Gulf and is for illustrative purposes only.
You are eligible for the Retirement Savings Plan if:
- You're aged between 25 and 55 years old
- You plan to retire aged between 45 and 70 years old
- You hold a valid Bahrain residency visa
Can I stop the plan anytime? If so, what do I get?
If you stop contributions during the accumulation phase and your policy has acquired an encashment value*, your scheduled payout will be scaled down and the plan will continue without requiring any further contributions.
You may also decide to surrender the policy. In this case, if the plan has acquired a surrender value, you would receive it as a lump sum payment, which in the few first years could be less than what you have contributed.
*The encashment value is the basic cash value of the policy plus accrued excess interest bonuses to date.
How much should I contribute to the plan?
Your Relationship Manager can tell you the premium you should contribute to the plan based on your savings goal.
Or you can let us know how much you are comfortable contributing on a regular basis and based on that we will be able to tell you what your returns will be when the plan matures.
What if I die?
The policy will lapse and the Retirement Plan will provide your beneficiaries with the death benefit provided in the illustration. This benefit will be based on the period you contributed to the plan plus any accrued excess interest bonuses.
If this occurs post-retirement, your beneficiaries will receive the total amount of your plan, minus any amount already released to you.
Get a goal-based retirement savings plans and enjoy the life you love now in your later years.
