When it comes to securing your financial future, making the right investment choices is critical. If you’re looking for a plan that provides both security and attractive returns, the Imarika Investment Plan (Lumpsum) by Britam could be your answer. This investment-linked savings plan is designed to offer competitive returns, flexibility, and added benefits like life insurance. In this article, we will dive into how you can grow your savings with the Imarika Lumpsum Investment Plan and enjoy long-term financial stability.
What is the Imarika Investment Plan?
The Imarika Investment Plan (Lumpsum) is a goal-oriented savings plan that provides an opportunity for individuals to invest a significant amount of money (starting from Ksh 50,000) and earn high returns. With the plan, you can enjoy returns of between 8% to 12% per annum on your savings, with a guaranteed minimum return of 5% in case of market downturns. The plan is regulated by the Insurance Regulatory Authority, ensuring the safety and security of your investment.
This product is tailored for Kenyans looking for a flexible, transparent, and tax-efficient way to invest their lump sum savings while enjoying extra benefits like free life insurance.
Key Features of Imarika Investment Plan (Lumpsum)
- High Returns: Earn between 8-12% per annum, ensuring that your savings grow over time. Even in periods of poor market performance, the plan guarantees a 5% return on maturity.
- Tax Relief: Opting for a long-term investment of 10 years or more allows you to benefit from a 15% tax relief on your annual contributions, up to a maximum of Ksh 60,000 per year.
- Flexible Withdrawals: After the 25th month, you can make partial or full withdrawals without any charges. Withdrawals made earlier attract minimal exit charges (10% for the first 12 months and 5% for months 13 to 24).
- Free Life Insurance: Along with your investment, you get free life insurance cover of Ksh 50,000, providing you and your family with peace of mind.
- Flexible Contributions: The plan allows you to adjust your contributions based on your financial situation, with no penalties for taking a premium holiday.
- Transparency: Monthly statements are provided to keep you informed about your fund balance. You will receive updates via email and your mobile phone, ensuring complete transparency.
How to Sign Up for Imarika Investment Plan (Lumpsum)
Signing up for the Imarika Lumpsum Plan is a simple process. You can get started by following these steps:
- Complete the application form and attach the required documents (ID, KRA PIN, and a valid email).
- Make an initial deposit of at least Ksh 50,000 using any of the payment methods available:
- M-Pesa Paybill (Account Name: NEW, Paybill No. 541400)
- Bank transfer via RTGS or EFT
- Direct debit from your bank account
- Cheque payable to Britam
For investments of Ksh 2 million or more, a Declaration of Source of Funds Form must be completed.
Modes of Payment and Top-Up Options
Once you are signed up, adding to your investment is flexible. You can top up your plan through the following methods:
- My Britam Portal or My Britam App for easy online management.
- M-Pesa, Bank transfer, or direct debit for quick payments.
- Cheque (personal or bank) in favor of Britam.
Charges and Fees
The Imarika Investment Plan has a low management fee of 0.21% per month on the total fund value. This small fee ensures that your funds are professionally managed to give you the best possible returns.
Benefits of the Imarika Lumpsum Investment Plan
- Security and Peace of Mind: With Britam managing your investment, you can rest assured that your funds are in good hands. The product is also regulated by the Insurance Regulatory Authority, offering an additional layer of security.
- Guaranteed Returns: Even in poor market conditions, you are guaranteed a 5% return upon maturity, protecting you from losing your hard-earned money.
- Flexibility: The plan allows you to adjust contributions, take premium holidays without penalties, and withdraw funds after the 25th month at no cost.
- Tax Efficiency: By investing for 10 years or more, you can take advantage of tax relief on your contributions, maximizing the growth of your investment.
- Free Life Insurance: The added life insurance cover of Ksh 50,000 offers your loved ones financial security in case of an unforeseen event.
Early Withdrawal Charges
While the plan is designed for long-term growth, you can withdraw your funds at any time. Withdrawals made before 25 months are subject to the following charges:
- 10% for withdrawals within the first 12 months.
- 5% for withdrawals between 13 to 24 months.
- No charge after 25 months.
Frequently Asked Questions
- How Can I Top Up My Account? You can top up your investment at any time using the payment methods mentioned earlier. Ensure to quote your investment policy number for easy processing.
- Is the 0.21% Management Fee Charged on Principal or Interest? The management fee is charged on the total fund value, including both the principal and the interest earned. This fee is clearly indicated in your monthly statements.
- What is the Maximum Investment Period? The maximum investment period is 20 years, with the maximum age for cover being 80 years. A 75-year-old can invest for a maximum of 5 years.
The Imarika Investment Plan (Lumpsum) offers a reliable and flexible way to grow your savings while enjoying attractive returns and additional benefits. Whether you’re planning for retirement, education, or a major purchase, this plan gives you the financial security and freedom to achieve your goals. With its combination of high returns, tax efficiency, and life insurance cover, Imarika is the perfect vehicle for those seeking to maximize their lump sum investments.
To start your journey towards financial security, visit Britam’s website, or contact them via phone or WhatsApp. Let the Imarika Lumpsum Investment Plan help you achieve your financial dreams today!
