Life
By means of a comprehensive platform of LIFE insurance products, at SupraInvest we help you to provide your client with an extensive range of products that covers all possible requirements.
Temporary products
This type of insurance offers protection for a specific amount of years, and pays benefits only if the insured dies during that period. The main advantage is that it can be renewed for a set amount of periods, and the insured may choose to extend the contract for equal amounts of time.
The insurance will be without effect once the term for which it was taken expires. This type of insurance may be taken for annual periods up to a certain age, and does not accumulate cash value.
Universal Life
This is a savings-oriented insurance with a flexible type of cover, where the amount and frequency of payments may be modified to suit the client's requirements. It intends that the insured should have savings at retirement age, but it may also be used for other purposes like paying for children's education.
The premium is calculated on the basis of the individual's capital and the duration of the insurance cover, taking into account the mortality rates, the charges and the interest that will be accredited. The intention is to keep the policy valid for the stipulated period, and to accumulate the forecasted savings.
Additional covers
This is about protection that increases the value of the premium paid for the plan, and which will be in effect only if expressly selected:
- Supplementary Life Insurance:
- This is a fixed term life insurance which can be added to a Universal Life plan, and in general it can only be taken at the time of purchasing the plan.
- Life Benefit:
- In general it is free of cost. It provides a percentage of the sum insured if the client is diagnosed with a terminal illness, up to a maximum amount set by the company.
- Critical Illness Benefit:
- It allows for the payment of a percentage of the sum insured, if the insured is diagnosed with any critical illness like cancer, stroke or heart attack.
- Accidental death benefit:
- It provides an additional sum for the case when death occurs as the result of an accident.
- Accidental death and/or dismemberment:
- Provides an additional sum if death results from an accident, and also covers different bodily injuries.
- Accidental death benefit:
- Provides a sum insured on the primary beneficiary's life should his death be the result of an accident.
- Waiver of Premium:
- Allows the policy to remain in effect during a period of total disability of the insured.
- Other Insured Supplement:
- Provides temporary life insurance to other eligible persons such as spouses, children and in certain cases business partners.
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