Term Assurance
Term assurance is the purest and most straightforward form of financial protection, designed to provide maximum security at minimum cost. The objective of term assurance is to act as a safety net offering a high level of life cover for a specific period of time. It assures that your family is protected incase of any unfortunate incident. Term assurance plans come in various forms, ranging from minimal coverage with affordable premiums to extreme coverage and protection and slightly higher premium ranges.
FAQs
How is the coverage for term assurance decided?
When determining the right amount of coverage, the goal is to ensure your family can maintain their current lifestyle and meet future obligations without your income. The two critical factors in this calculation are your annual income and current age.
when can a term assurance claim be denied?
-non disclosure of material facts
-fraudulent information
-policy exclusion(suicide clause, criminal acts, drug/alcohol abuse)
-lapsed policy
-documentation errors
-fraudulent information
-policy exclusion(suicide clause, criminal acts, drug/alcohol abuse)
-lapsed policy
-documentation errors
when can a claim be made under a term assurance policy?
A term assurance claim can be filed as soon as a claimable event occurs, provided the policy is active at that moment,
upon death of the policyholder
upon diagnosis of a critical or terminal illness (if opted)
upon permanent disability (if opted)
term assurance policies has no maturity benefit. However, you may have a return of premium ;terms and conditions of the insured shall apply.
Get in touch with our support team to learn more.
At Aegis, we are committed to excellence and delivering the best to our clients. We have made sure that our clients received outstanding service ever since we opened our doors in 2019, and we continue to do so.