This life insurance policy is designed to pay a sum assured after a specified term (on its maturity) or when the life insured dies within the specified period.
Scope of cover: This policy covers the death by accident and illness.
- Personal saving for Future Plans (Education/Home/Business)
- Security of Financial obligations,
- Extra earnings – Bonus/reduction of tax obligations.
- Suicide case
- Pre-existing illness
- SIGN Proposal Form
- PROVIDE Life Assured Date of Birth
- Salary automatic deduction form
- Verbal Agreement for Self Pay
- Agreement on the minimum premium $5.00 PER fortnight/ $5.00 twice PER MONTH.
Terms and Premium:
- 1. Different terms
- 10 years
- 15 years
- 20 years
- 25 years
- Up to retirement age (50 & 55 ages).
Current age plus 5 greater than the retirement age – not entitled.
- 2. Minimum Premium - $5.00 per fortnight or $5.00 twice per month.
Types of claims:
- Maturity Claim (Sum Assured plus Bonus),
- Death Claim (Sum Assured),
- Surrender Claim:-Adult Surrender;Minor Surrender