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| This Product is intended to be a long-term contract and the cash values, especially in early years are frequently less than the total amount of premiums paid. |
PLANNING FOR THE FUTURE CAN BE EASY
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CORE BENEFITS |
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The Sagicor eZTerm plan is a flexible term plan which offers two coverage options; the 10-year Term Plan or the 20-year Term Plan and provides for a lump sum payment on the death of the insured person (the “Insured”) during the term of the plan. You can decide on your level of coverage and coverage is available in varying amounts to persons between the ages of 18 to 55 years.
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DEATH BENEFIT |
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The insurance coverage under the policy (the ‘Sum Assured’) is payable on accidental death and non-accidental death. Once the policy has been in force for at least 12 months and the Insured dies before the expiry date of the coverage as specified under the policy, then subject to the rights of any assignee, Sagicor will pay the Sum Assured to the beneficiary listed, or if there is no beneficiary, to the estate of the policyowner.
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ACCIDENTAL DEATH BENEFIT |
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Notwithstanding the above, if the Insured’s death is due to bodily harm caused directly (and independent of all other causes) by external, violent and purely accidental means, there will be no reduction of the death benefit where the Insured dies within the 12-month waiting period and the full Sum Assured will be payable.
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REINSTATEMENT |
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If the policy lapses due to non-payment of premium, an application for reinstatement can be made within a maximum of 12 months, after lapse, in writing in the required form. All overdue premiums with interest must be paid at that time in order to receive a Certificate of Reinstatement. Only two (2) reinstatements are permitted.
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SELF-DESTRUCTION |
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If the Insured commits suicide or suffers capital punishment within 1 year of the date of issue or reinstatement of the policy, we will only pay a benefit equal to the amount of premiums paid without interest. This does not affect the applicability of any self-destruction clause included in respect of any other benefit.
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