Burundi : Insurance - BIC RETIREMENT (ADDITIONAL PENSION) - Business Insurance and Reinsurance Company SA (BIC

The BIC RETIREMENT contract is a contract whose object is the constitution and service of a certain annuity through periodic contributions. In the event of life at the end of the contribution period, the certain annuity subscribed is paid over the period of service indicated at the time of subscription. In the event of death / total permanent disability of a member occurring during the pension accrual period, a pension of an amount equal to 10 times the annual pension (not exceeding 10 million) is paid. of the annuity subscribed and this during the residual period of contribution. At the end of the service of this annuity, it is paid in addition to the annuity provided for in the event of life over the period of service subscribed. The first annuity payable on the date of death is calculated on a pro rata basis for the period between the date of death and the next anniversary of the contract. The annuity is payable in advance both in the event of life and in the event of death.