Term Insurance

Term Insurance: Term insurance is usually the most affordable and widely sold life insurance product in the world. There is no build up of a cash value, like an ordinary life policy, and the benefit is payable only when the insured dies and the policy is in force.

The policy owner has the right to convert the term policy to a whole life plan of insurance. This is not an automatic conversion. The conversion period is spelt out in the policy. Even if your health has deteriorated to the point that you may be uninsurable you can still obtain lifetime coverage, since evidence of insurability is not required at the time of conversion.

Most individuals purchase term insurance because of its affordability, as a requirement by lending institutions such as banks, and to complement other insurances such as ordinary life.

T-LIFE AND E-LIFE

Our T-LIFE and E-LIFE plans provide coverage for death during the term of the policy. Premiums are payable over the full term of the policy. The plans carry the privilege of convertibility to a permanent plan at any time during the convertible period.

T-Life 10, 15, 20, 25, T-Life to 60, 65, 70, 75, 80 and 85 are plans available.

The Executive T-LIFE (E-LIFE) has been customized for the executive market. The durations are the same as in T-LIFE.

On all plans there is a minimum sum assured of $75,000.The minimum issue age is 20 and the maximum varies from 55 to 70, based on the plan duration.