Bancassurance

Wisdom

"Wisdom" is planning your retirement

Preparing for retirement is foreseeing today the income you will need tomorrow.


Is there a right time to start preparing for retirement?

It’s never too late to start planning for retirement. The sooner you start, the more you save.

With « Wisdom », you start saving now and plan your retirement with peace of mind by securing your future and that of your loved ones.


What is « Wisdom »?

 « Wisdom » is a retirement plan and a life insurance offered by Emirates Lebanon Bank sal, proposed by Willis Towers Watson Lebanon in collaboration with Libano-Suisse s.a.l. It allows you to build up a capitalized amount for your retirement.

It guarantees payment of the sum insured to the designated beneficiaries in case of natural or accidental death or to you in case of Total and Permanent Disability, before contract maturity


Optional coverage

« Wisdom » gives you the choice to add an optional Permanent Partial Disability cover.


How does « Wisdom » work?

« Wisdom » is a flexible contract that fits your needs:

Upon subscription:

  • You choose either of below two options
  • You set the amount to be received at contract maturity and the premium will be calculated accordingly.

    You set, depending on your financial situation, the amount of the premium to be paid. The accumulated capital at contract maturity will be calculated accordingly.


  • You select the frequency of payment of your premiums which will be automatically withdrawn from your account: monthly, quarterly, half-yearly or annually starting from 25$/month.
  • You can add, if you wish, an optional Partial and Permanent Disability coverage to your policy.
  • Contract period is of minimum 4 accomplished years.
  • An annual interest rate is guaranteed for the first three policy years and a new rate will be declared every year thereafter to which profit sharing is added (if any).
  • You also have the option to protect your investment against inflation through annual indexation of the premium (between 1% and 10%).
  • At contract maturity, you can receive the saved amount either as a lump sum or as an annual income spread over a period of 5 to 20 years.

  • What happens in case of a covered claim?
  • In case of Death:
    The greater amount between the sum insured and the saved amount is settled by Libano-Suisse s.a.l. to the designated beneficiary(ies).
  • In case of Total and Permanent Disability:
    The greater amount between the sum insured and the saved amount is settled by Libano-Suisse s.a.l. to the insured.
  • In case of Partial and Permanent Disability (optional):
    Libano-Suisse s.a.l. settles a percentage of the sum insured as set by the Continental Scale.


  • « Wisdom » features and terms:

    Minimum age of insured upon subscription: 18 years
    Maximum age of insured upon subscription: 64 years
    Maximum age of insured at contract maturity: 75 years.
    Remark: The coverage ceases at the age of 65 for disability
    Number of beneficiaries  per contract (in case of death): Only or more 1
    Maximum age of beneficiary at contract maturity: N/A
    Sum insured:

    Set by insured at the beginning of contract

    Minimum contract duration: 4 accomplished years
    Currency: USD
    Minimum premium: USD 25 / month
    Frequency of  payment: 1M, 3M, 6M, 12M 
    Premium annual indexation (optional - upon subscription): 1% to 10%
    One-time policy fee (upon issuance): USD 20
    Basic cover: Life insurance - Death plus Total and Permanent Disability
    Optional cover: Permanent Partial Disability
    Payment of saved amount at  contract maturity:

    Lump sum

    or

    Annual income spread over a period of 5 to 20 years


    1. The beneficiary is the insured himself if he is still alive at contract maturity or if he is subject to total and permanent or partial and permanent disability before contract maturity.


    N.B: Libano-Suisse simulation tool does not allow monthly premiums lower than 25$.

    The Bank reserves the right, at its sole discretion, to amend above Terms and Conditions at any time, without prior notice.