Individual Life

Temporal life coverage

This plan provides financial protection for a specified period of time. The insured amount is paid by the Company upon the death of the Assured if this occurs during the period of insurance. If the Assured person survives the period covered in the policy, this will remain automatically cancelled and without the value, but the insured may renew the contract at the expiry date by paying the premium that corresponds with his/her age at that date.

Cancer Plan

The company will pay the Assured the face amount shown on the policy schedule on the receipt by the company of proof satisfactory to the Company’s Medical Officer of the occurrence of the first diagnosis of cancer as defined in this policy.

This policy has a ninety-day “waiting period”; that is, no benefits are payable on diagnosis of cancer before the Policy has been in force for ninety (90) days.

Details of Cover

 

Funeral Expense

This plan was designed to assist in burial expenses at the time of the insured’s death. The beneficiary is paid the sum assured upon satisfactory proof of death. The Company guarantees benefits for death by natural causes and by accident. Eligible ages range from 30 to 80 years.

Group Life Insurance

This plan provides financial protection to members of a Company or an Association. The applicant would be the Company or the Association. The Insurance Company will pay the benefits as stated in the Schedule of the policy. Basic benefit is the death benefit. The assured is also able to select Total & Permanent Disability benefit, Funeral Expense benefit and Double indemnity for accidental death and dismemberment benefit.

Every member of the scheme will be required to nominate in writing the beneficiaries for his/her Death Benefit. The Employer, as trustee, will pay each member's death benefit to his/her beneficiaries in accordance with his/her nomination.

Credit Life

Collective Mortgage Cancellation Insurance

Collective Mortgage Cancellation insurance provides indemnity to the creditor for an amount equal to the net loan balance that exists at the date of the named borrower’s death including any delinquent payments, interest outstanding and legal expenses, up to and not exceeding the sum insured.

Debt Balance Insurance

Debt Balance Insurance provides indemnity to the creditor for an amount equal to the net loan balance that exists at the date of the Insured borrower’s death for unsecured personal loans.

Temporal Life Insurance

Temporal Life Insurance provides indemnity to the creditor for the sum, if any, owed by the named borrower of an overdraft facility at the time of death in an amount not exceeding the sum insured.

Collective Temporal Life Insurance

Collective Temporal Life Insurance provides indemnity to the creditor up to a maximum being the sum insured at the renewal anniversary date at the date of the insured borrower’s death for unsecured commercial facility.