Money Back Topics
A number of inquiries regarding Money Back that needs to elaborate for them to understand the scheme. Well, I'll share it to you here using some visual aids to help my explanations clear.
Let say, for example on St. Francis plan:
(Note: This is an Old Plan - For purposes of discussion only)
Let say, for example on St. Francis plan:
(Note: This is an Old Plan - For purposes of discussion only)
St. FRANCIS
Monthly - P 875
Quarterly - P 2,530
Semi-Annual - P 4,875
Annual - P 9,200
Contract Price - P 46,000
The Money Back for St. Francis plan is P 9,200.
Why because, if look at the screen shot below, the Return of Premium (or Money Back) is 20% of the Contract Price each year. So, 20% of the of P 46,000 is P 9,200. This will be return back to you this amount of P 9,200 every year for 5 years. But, take note, you cannot collect this full contract price amount in one instance, since this is a 5-year paying period. This scheme is stipulated in your policy.
Money Back
No matter if your mode of payment is Monthly, Quarterly, Semi-Annual, Annual and even Spot Cash, there is a 5-year paying period, 5-year goodwill period, 5-year waiting period and on the 16th year will start your Money Back until the end of the 20th year.
For the practical people of 25 years old who has a St. Peter Life Plan then, at the age of 45 his/her investment will start coming back to his/her pocket, plus the assured intact Life Plan Package.
For the practical people of 25 years old who has a St. Peter Life Plan then, at the age of 45 his/her investment will start coming back to his/her pocket, plus the assured intact Life Plan Package.
Hope this simple topics I just did shared it here will help you understand regarding the Money Back scheme.