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In the thriving investment hub of the UAE, where a multitude of investment avenues ranging from mutual funds to real estate entice investors, the realm of unit-linked plans stands out as an attractive option. Amidst this array of choices, one plan that has garnered attention for its unique approach is the HAYAH Simple Saver Investment Plan.
What sets this plan apart from other options is its linkage to the performance of the investment options chosen by the policyholders, ensuring a dynamic and flexible investment strategy. In this article, we will dive into the key details of the HAYAH Simple Saver Insurance Plan. We will explore its distinct features and compelling benefits, and shed light on who can opt for this plan.
Whether you are a seasoned investor seeking new avenues or a beginner exploring the unit-linked plans’ world, you will find plenty of details here to make informed financial decisions for a secure and prosperous future with our guide about this incredible investment plan.
Listed below are the key features and benefits of the Simple Saver investment plan-
Keep the following points in mind while assessing the premium of the HAYAH Simple Saver Investment plan –
It's important to note that any attempt to raise the premium beyond the initially agreed level is not permissible.
By accessing your portal account, you can conveniently instruct HAYAH Insurance to make the necessary adjustments, subject to the minimum premium requirement applicable during that period.
Despite halting premium payments, the deduction of plan charges will continue, safeguarding the integrity of your investment and the maintenance of your plan's value.
The HAYAH Simple Saver Investment Plan presents an inclusive and accessible investment option for individuals seeking simplicity, affordability, and ease of online management.
Whether you are a young adult entering the world of savings or an experienced investor seeking a straightforward approach, this plan welcomes all those who wish to secure their financial future with prudence and convenience.
Here are some factors related to the ideal candidates for the HAYAH Simple Saver Investment Plan -
Given below is a table depicting the charges associated with the HAYAH Simple Saver Investment Plan. Check it out for a clear breakdown of each charge and its calculation method -
|Plan Management Charge||The Plan Management Charge is levied daily and calculated as 1/365th of the annual charge applicable to your plan value at the end of each calendar month. The first and last charges are pro-rated based on the plan issuance and end dates.||Deducted by selling Units proportionally from your selected Investment Options when the charge is due|
|Charges on Withdrawals||Partial withdrawals don’t incur any charges. However, full withdrawals may be subject to a fee as specified in your Plan Schedule.||The fee is deducted from the proceeds of the sales of your Investment Options|
|Administration Charge||In case instructions are processed by HAYAH Insurance outside your Portal account, an Administration Charge of USD 100 may apply.||-|
|Bank Charges||While HAYAH Insurance does not impose direct bank charges, any charges by your bank or other financial institutions related to your plan activities are your responsibility.||-|
|Foreign Exchange Charge||In situations where currency conversion is required (e.g., premium receipt, withdrawal payment or purchasing or redeeming Units in a different currency), exchanges are done at prevailing market rates.||-|
|Investment Adviser Fee||If you have appointed an Investment Adviser, their fee is displayed in your Plan Schedule. The fee, calculated quarterly, is a quarter of the annual fee applied to your plan value.||-|
At any point in time, you can initiate a withdrawal request through your portal account. Upon receiving your request, HAYAH Insurance will instruct the sale of units from your selected investment options on the next available dealing day, following approval.
The time taken for the sale of units to settle will vary as per the specific investment option. Once all unit sales have been completed, the withdrawal amount will be paid in the plan currency to your nominated bank account.
The HAYAH Simple Saver Investment Plan offers various withdrawal options to provide you with the flexibility to access your funds as per your financial requirements. Here are the available withdrawal options and the process for each one -
It's essential to consider the implications of a full withdrawal, as it will result in the termination of your Plan.
Policybazaar Insurance UAE is the go-to site to check a diverse range of investment opportunities in the UAE. It is an excellent choice to apply for the HAYAH Simple Saver Plan in just a few clicks from the comfort of your home!
Here's a step-by-step guide on how to apply for this investment plan through Policybazaarinsurance.ae:
Advantages of Applying for an Investment Plan via Policybazaarinsurance.ae:
Take a look at some frequently asked questions to gather more information on HAYAH Simple Saver Investment Plan.
Ans: The HAYAH Simple Saver Investment Plan concludes upon the occurrence of the earliest of the following events -
Ans: The HAYAH Simple Saver Investment Plan distinguishes itself through its unique linkage to the performance of the chosen investment options, offering a dynamic and flexible investment approach for policyholders.
Ans: Yes, the Simple Saver Plan is an exclusively online offering, providing convenient access to your plan details through a personalised portal account. Multi-factor authentication ensures high security, and all you need here is a valid email address and mobile number to manage your investments efficiently.
Ans: Yes, the plan is available to individuals aged between 18 and 69, catering to a broad spectrum of potential investors.
Ans: The plan has an open-ended policy term, i.e., it remains active until the death of the last life assured or until voluntary termination.
Ans: Yes, you have the flexibility to reduce your premium at any time through your portal account, adhering to the applicable minimum premium requirement. Additionally, you can increase your premium if previously reduced, subject to the maximum premium limit at that time.
Ans: While partial withdrawals don’t incur charges, full withdrawals may be subject to fees as specified in your Plan Schedule. Please review the charges and implications before making a withdrawal decision.