Loan Protection Life Insurance is often a minimum requirement when arranging a business loan.
Level Term Life Insurance provides a fixed amount of cover, known as the sum assured, which becomes payable if the death of the insured occurs within the term of the policy. Without such cover, the death of a business owner could have a significant financial impact upon the business.
Level Term Optional Benefits
Subject to certain exclusions and different premium levels, and depending on time and age limits, we also offer the following optional benefits in addition to the policy main benefits:
Accidental Death Benefit: Offers payment of an additional death benefit to the beneficiary if death of the Life Insured occurs due to an accident. A claim on this additional benefit terminates the policy.
Accidental Death and Dismemberment Benefit: Offers a payment of an additional benefit to the beneficiary if death or dismemberment of the Life Insured occurs due to an accident. A claim on this additional benefit terminates the policy if the claim is made as a result of the death of the Life Insured but the policy remains in effect if the claim is made as a result of dismemberment of the Life Insured.
Permanent Total Disability: Offers payment of an additional benefit which covers the Life Insured in case of an injury which renders him/her unable to work in an own or any other occupation. A claim on this additional benefit does not necessarily terminate the policy.
Note: Life Protection plans only pay on death within the specific term of the policy, should the insured survive the duration of the policy, no benefits would be payable. These policies cannot be discontinued for cash or converted to a paid-up policy. The Perla Unit-Linked plans are life assurance policies which are tied to a number of funds. These funds and the income from them can go down as well as up and is not guaranteed, and the investor may not get back the amount originally invested especially if the plan is surrendered within 5 years from its commencement date. Past performance is not necessarily a guide to future performance. Changes in the rate of exchange of currencies, particularly where overseas securities are held, may also affect the value of your investment.
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