Unlike CAP, CEP has no investment options. Nevertheless, the financial benefit is best appreciated in case of death or disability of the insured before the maturity of a given policy.

One percent (1%) of the sum assured is to be paid to the family of the insured monthly till the maturity of the plan. For example if Mr. X has a CEP policy worth N 10million, the amount payable to his family is N 100,000 monthly till the maturity of the plan when the face amount of N 10m will be paid as well.

Another strong point for CEP is the optional level-term rider it offers. With this rider, the cost of insurance will be higher -the premium to be paid increases. However, the benefits of this rider are also best appreciated in case of total disability or death of the insured.

The family of Mr. X in our example, not only gets paid N 100,000 monthly, but receives an instant benefit of N 10m immediately after the death/disability of the insured and another

N 10million again at the maturity of the policy.