Individual Life Insurance

Purchasing life and health insurance is an important tool in ensuring that your loved ones are protected when you may not be around to provide for them. Maritime Life (Caribbean) Limited has been protecting loved ones for over 50 years and has become synonymous for being there when you are not. When making the decision to purchase life and health insurance it is just as important to select an insurance company that will be there when your loved ones will need it. Do you know, that Maritime’s life policies are reinsured with some of the largest reinsurers in the world, providing you with an additional peace of mind.
We know that purchasing life and health insurance can be a daunting task and below we have provided the major types of plans that you can buy. Each plan was designed to meet a certain need and we advise consulting with one of our qualified financial advisors:

How It Works

• You select an amount in keeping with your present needs
• Pay an initial premium
• Do the necessary medicals
• Your premium never increases
• In early years, your contribution is greater than the cost of coverage and  conversely, it is much smaller in the later years
• So, in the early years a reserve is created, off-setting the growing cost in later years

What Happens If You Quit

• Surrender policy for cash
• Automatic premium loan
• The cash surrender value may be used as a single premium to purchase reduced coverage on a permanent policy
• The same may be done to purchase a term policy equal to the original amount but for a shorter period

If You Become Disabled

• Should you opt for the benefit, Maritime will undertake to pay the premium on your behalf until you recover

If You Become Critically Ill

• Should you opt for the benefit, you will receive a lump sum (or part thereof) to take care of any of these illnesses: 
  
  • Heart Attack
  • Coronary Heart Disease
  • Terminal Illness
  • Stroke
  • Cancer
  • Major Burns
  • Renal Failure
  • Paralysis
  • Heart Valve Replacement
  • Multiple Sclerosis
  • Coma

• Peace of mind that you could afford the best medical treatment money can buy

Life

• Peace of mind that your family will live in their world if you DIE TOO SOON
• Provides funds for both spouses in retirement years
• Sources of cash for emergencies and opportunities
• Sinking funds for your home
• Collateral for your debts and loans
• Helps preserve your estate for your heirs

Death Benefits Paid When Death Occurs

• Guarantees income for loved ones
• Funeral bills, medical bills etc. will be covered
• Mortgage wiped off, as with other loans and debts
• Probate, legal and executor fees will be covered

PERMANENT LIFE INSURANCE
Why do you need permanent life insurance?

• You want income protection to last as long as you need it to, perhaps a lifetime.
• You want to protect the lifestyle your income provides for your family. If two incomes are involved, consider protecting both of them
• You want to help ensure a child or grandchild can attend college whether you live or die
• You need to accumulate money to supplement retirement income.
• You want to provide for a dependent with special needs
• You want to replace the contributions of a non-working spouse.
• You want to provide an inheritance for the people or organization you care about.