LIFE INSURANCE 
 
 

 



 
 



A life policy provides payment of the sum insured in case of Death. We offer the following life assurance coverage from the market to meet your requirements:

- Decreasing Term / Reducing Term

As the title suggests, the Sum Assured is reduced every year in line with your loan. Such a plan is usually issued to pay off your mortgage in case of death. This is the cheapest option whereby the premium is a fixed rate taking into consideration only the outstanding amount with the bank. For example: A loan of €100,000 is provided. Five years into repayments, the policyholder would have paid off €20,000 but passes away in the same year. The policy will pay off the remaining €80,000 due to the bank only. 


- Level Term Life 

This is a relatively low cost life assurance policy issued for a predetermined period of time to protect your family from an early or untimely death, say in the case of the existence of long term financial commitments e.g. bank overdraft. This is slightly more expensive than a decreasing term policy as the amount payable upon death remains the same, irrelevant of the amount outstanding with the bank. For example: A loan of €100,000 is provided. Five years into repayments, the policyholder would have paid off €20,000 but passes away in the same year. The policy will pay off the remaining €80,000 due to the bank and the €20,000 (already settled) to heirs.


- Savings Plan / Retirement Plan

- Child Policy

It is important to note that a standard life policy may take an average of 5 working days (10 working days should medicals be required) from when all original documentation is in hand.

 
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