Benefits of Life Insurance With Us
Having life insurance with us will give you a number of benefits at your disposal such as:
Create an estate - Help provide finance, dignity, and independence for loved ones or create a legacy for heirs or for a charity. Or Preserve an estate by settling an outstanding mortgage and provide a succession plan for a business.
- Waiver of Premium - Often referred to as a “self-completing” feature, the waiver of premium benefit allows premiums on a life insurance policy to be waived if the insured becomes disabled, as defined in the policy. The waiver of premium benefit expires at age 60.
- Convertibility option - Convert a Term policy to a Whole Life Policy without proof of insurability.
- Terminal Illness - If diagnosed with a serious illness and given 6 - 12 months to live, the policy will be paid in full to you.
- Portability - You can move to another country and still keep the coverage.
- Personal Options - Mortgage, Family & Income protection along with estate creation.
- Business Options - Key Man & Buy-Sell agreement.
We offer value-for-money cover and first-class customer care!
Additionally, we offer Accidental Death Benefit up to 1 Million USD which no other company on island offer and (ADB) expires once you reach 65 years old. For example. If you were to pass away by accident, the payout would be doubled to 2 Million USD. The premium will stay the same until the expiration of the policy.
Children Whole of Life Plan
Coverage from birth up to age 17 with a maximum of US$50,000.
Whole of Life with a Term Life Rider
You have the option to combine both policies into one.
Term Life
Term insurance is also known as pure or temporary insurance. Think of term insurance similar to renting an apartment. At the time the lease is up, you move out and no longer have a place to live and the rent you have paid over the term of the lease is gone – i.e. no value. It provides insurance for a set period of time 5-35 years for a specific sum assured. Term insurance is very inexpensive and cost-effective but provides no cash value. Our term insurance is convertible after the first year to a new permanent policy with the same sum assured without further underwriting. Have the financial means to give the life planned for your children, support your spouse, family members or others who depend on you.
Whole Life
Provides lifetime protection, so long as the policy is kept in force. The insurance company pays the death benefit regardless of when death occurs, so long as the policy is kept in force. The policy accumulates cash values that can be used during the insured’s lifetime (withdrawals and loans will reduce the policy’s death benefit and cash value available for use).
Key Man
Insurance purchased by the business to indemnify the business from the losses associated with the death of a Key Employee. The business is the owner, premium payer and policy beneficiary. Key Man Insurance should be part of any business contingency plan. However, the policy can be placed on a Business owner or a Non owner Key Employee. It is an ideal solution for any business as a substantial lump sum payment will be made upon the death of an insured key person so that financial losses to the company are protected against
There are options to value a Key Employee:
- Multiplying of salary
- Trace the capitalized company's earnings to that employee
- Estimate the reduction in the going concern value of the business due to the loss of that employee
- Estimate the costs of replacement