Our term life insurance policy provides coverage for a specific term or length of time, typically between 10 and 30 years. It is a “pure life insurance” because there is no cash value to the policy. The policy is designed solely to give your beneficiaries a pay out if you die during the term. You are likely to go through medical underwriting if the cover level is beyond a certain amount. That is, depending on the insurer or provider it will involve medical tests at a chosen medical facility.
The policy has level premiums, so you pay the same amount every month. When the term expires, there’s no more coverage and you must get a new policy, which will likely come at a higher cost: the older you are, the more expensive it is to get a policy.
Our universal life insurance policy is a form of permanent insurance that offers the cash value and lifetime coverage benefits of whole life. It is a savings policy with some levels of death or disability cover. The premium is flexible.
With our universal policy, you may raise or lower the amount you pay into the policy as you see fit, within the limits of the policy. Paying in less could eventually result in the need to pay in higher amounts in later years to keep your cover, or your policy may go paid-up.
Our Funeral insurance policy is a form of life insurance intended to cover end-of-life expenses such as funeral and burial costs. The coverage is permanent in the sense that if you keep paying premiums, the policy will remain in effect, but there is no cash value or investment component to these policies. The premiums for these plans tend to be modest and the death benefit is limited depending on the insurance company. The average cover can be taken for self, spouse, parents and parents-in-law. Other providers extend the cover to children, siblings and other extended family members.
Our hospital cash policy provide cover for individuals who are admitted at a hospital facility for a number of days. A pre-selected daily amount is paid for each day spent on admission at a registered medical facility. The policy could be extended to provide cover for death and can cover other family members on the same policy.
When you take a loan with a lending institution like a bank, you will be required to take out a credit life policy. Our credit life policy provides cover for the individual for death, disability and/or critical illness during the period when the loan is active. This protects the individual from the lending facility drawing on a collateral in case of any of the incidents listed. It ensures that the family and property of the individual is not adversely affected and the lending institution is also well protected. The policy can be automatically embedded in the charges for your loan facility or may be sort on an individual basis by purchasing directly from a life insurance company which can involve medical test and therefore medical underwriting.
Our Mortgage protection insurance policy provides death, disability and critical illness cover for individuals who access mortgage facilities with mortgage lending institutions. This ensures that the property is not repossessed when any of the incidents listed above occurs. It provides cover to the family of the mortgagor in ensuring that the outstanding loan on the house is paid off by the insurance company.
Our Annuity insurance policy is a type of insurance product that, in exchange for some or all of your pension savings, guarantees to pay you an income usually for the rest of your life. We have many types of annuity products available with a number of features and benefits that you can choose from.
Our Group Life policy is a life insurance that you buy as part of a group, usually through work as part of your employee benefits package, or through a member organization. The policy usually ends when you leave the employer or group. Other essential of the policy include the following;