Risk insurance (Family program) is designed to protect you from financial problems in the event of such contingencies as a serious illness or premature death of the person responsible for the welfare of your family. The program does not have the accumulative element, thus the price of the policy is minimal.
How does the program work?
The program provides coverage for a fixed term which you determine at your own discretion.
The scope of insurance coverage is set out in the insurance contract with a view to your needs and possibilities.
You may choose the way you want to pay your insurance premiums, whether as a one-off payment or in installments (annually, every six months, quarterly, monthly).
The insured amount is payable upon the death of the Insured person from any cause.
Examples:
A man of 35 wants to secure his family from financial losses in the event of his premature death. With the amount of $30 000 insured for the risk of death, or $5 000 for the risk of a complex surgery or a critical illness and the term of the insurance of 10 year the size of the annual premium will be $240.
A woman of 32 decides to enter a life insurance contract for 20 years. With the amount of $25000 insured for the risk of death, or $5000 for the risk of a critical illness or a complex surgery, the size of the annual premium will be $105.
Additional insurance:
The Family program may also provide additional insurance for the event of a critical disease with the payment of an additional insured amount.
The size of the insured amount is determined regardless of the main type of insurance within the limit of $25 000.
An insured event in this type of insurance is when the Insured person is diagnosed to have a disease or is referred to a surgery (cancer, myocardial infarction, cerebral crisis, kidney failure, paralysis, surgical treatment of coronaries and transplantation of basic organs).
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