The Golden Harvest Savings Plan
You want to save for your child’s education and wedding, a new car and home, travel, or maybe a comfortable retirement. Well, whatever you’ve planned on achieving, you can—whether you’re here or not. The Golden Harvest Savings Plan is for all life’s goals. You or your loved ones will be able to receive your entire savings goals, in the event of your total and permanent disability or passing (natural or accidental), so your dreams can still become a reality.*
How Do You Enrol in The Golden Harvest Savings Plan?
- You are eligible to enrol in the Golden Harvest Savings Plan once you are a member of a Credit Union, or any of our trusted Policyholders and are between the ages of 15 and 65. Once you’ve signed up, your long-term savings plan will begin with a decreasing term life insurance policy.
- Establish a savings goal and a time frame in which you would like to reach your goal.
- Contract with your Golden Harvest Savings Plan provider to make regular deposits of a set amount.
- Answer one simple medical question to determine your eligibility for coverage. (Your financial advisor will guide you on this.)
Benefits & Special Features:
The Golden Harvest Savings Plan is designed for your financial success and protection, and your monthly deposits guarantee the achievement of your savings goals. In the event you pass away or become totally and permanently disabled, your organisation will pay the total savings on your Golden Harvest Savings Plan account, plus insurance benefits (which equals your savings goal) to you, the insured, or your beneficiary.
There is no minimum savings goal, and no minimum monthly deposit. The maximum savings goal insured is determined according to your needs and subject to the organisation’s contract limit.
Once you have reached your savings goal, you can cash in for a lump sum and start making your dreams a reality!
Insurance Available at No Direct Cost:
All premiums will be paid to CUNA Caribbean Insurance Jamaica Limited by your organisation. If you discontinue the savings contract, all accumulated premiums paid by your organisation on your behalf may be deducted from your Golden Harvest Savings Plan account.
When is Coverage Effective?
As soon as you sign the savings contract with the organisation and pay your first deposit, the insurance coverage becomes effective.
Termination of Coverage
This insurance coverage will be terminated when:
- You cease to be a member of the organisation.
- You have not made a deposit for more than 60 days.
- You withdraw from this programme.
- Upon the date of maturity or when you have received the maturity value of the savings plan.
- You reach age 70.
- The organisation or CUNA Caribbean Insurance Jamaica Limited terminates the group contract.
- Your benefit is paid.
Pre-existing Conditions Clause:
This insurance will not pay death or total and permanent disability benefits due to an illness or injury for which you received medical advice, consultation or treatment within six (6) months prior to the effective date of the certificate. The pre-existing condition limitation will not apply if your death or total and permanent disability begins six (6) months or more after the effective date of the certificate.
This insurance will not pay benefits for death or total and permanent disability caused by the following:
- If you engage in criminal activities.
- If you become totally and permanently disabled or pass away resulting from intentional and harmful actions by the beneficiary.
- Suicide within the first two years of insurance.
- Self-inflicted disabilities.
If you are not yet an owner of the Golden Harvest Savings Plan, then don’t hesitate. Sign up today to secure your life goals.
For more information contact your Credit Union representative, Golden Harvest Savings Plan provider or CUNA Caribbean Insurance Jamaica Limited.